In Monticello, a typical home is worth $132,400 and typical rent is $779 a month. Compared with all of Wayne County, typical rent is 7% higher and the share of households that own their home is 15 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $112,511 to $155,474.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Monticello is in Wayne County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Wayne County. See the county
What this place has that others do not, from public data, most unusual first.
1
54% of households in Monticello own their home, against 69% in Wayne County.
2
According to Zillow, in the 12 months to September 2026 the typical home value in Monticello fell 3.2%; in Kentucky, it barely changed.
3
Monticello has the 6th lowest typical home value of the 83 cities in Kentucky with more than 5,000 people ($132,400).
Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data
The homes here
Housing in Monticello
What homes there are in Monticello, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Monticello
Wayne County
Kentucky
United States
Kind of home: Monticello and its comparisons
Measure
Monticello
Wayne County
Kentucky
United States
Detached house
72%
70%
68%
61%
Attached house
Unreliable estimate
Unreliable estimate
3%
6%
Building of 2 to 4
14%
4%
7%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
12%
19%
Mobile home
8%
22%
11%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Monticello, 7 in 10 homes are single-family detached houses, about the same as in Wayne County.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Monticello
Wayne County
Kentucky
United States
Year built: Monticello and its comparisons
Measure
Monticello
Wayne County
Kentucky
United States
Before 1960
20%
14%
22%
26%
1960–1979
38%
25%
26%
24%
1980–1999
25%
38%
28%
25%
2000–2009
Unreliable estimate
14%
15%
14%
2010 or later
9%
8%
11%
11%
In Monticello, half of the homes were built before 1976; in Wayne County, before 1986.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K33%
$100K–$200K52%
$200K–$300K10%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Monticello and its comparisons
Measure
Monticello
Under $100K
33%
$100K–$200K
52%
$200K–$300K
10%
$300K–$500K
Unreliable estimate
$500K–$750K
Unreliable
$750K–$1M
Unreliable estimate
$1M or more
Unreliable
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99952%
$1,000–$1,499Unreliable
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Monticello and its comparisons
Measure
Monticello
Under $500
Unreliable estimate
$500–$999
52%
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$943 a month
Wayne County: $1,100 a month
Without a mortgage
$362 a month
Wayne County: $342 a month
Owners with a mortgage
47%
Wayne County: 38%
Owning costs less in Monticello: with a mortgage, the typical cost is $943 a month; in Wayne County, $1,100. Without one, $362.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Monticello+35%
Wayne County+53%
Kentucky+46%
United States+53%
Typical rent
Monticello+48%
Wayne County+35%
Kentucky+27%
United States+33%
Typical household income
Monticello+42%
Wayne County+31%
Kentucky+26%
United States+29%
Change since 2015–2019: Monticello and its comparisons
Measure
Monticello
Wayne County
Kentucky
United States
Typical home value
+35%
+53%
+46%
+53%
Typical rent
+48%
+35%
+27%
+33%
Typical household income
+42%
+31%
+26%
+29%
From 2015–2019 to 2020–2024, the typical home value in Monticello rose 35%; in Wayne County, it rose 53%.
The typical rent in Monticello rose 48% over the same time; in Wayne County, it rose 35%.
While home values in Monticello changed +35% and rent +48%, the typical household income rose 42%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Monticello and its comparisons
Measure
Monticello
Wayne County
Kentucky
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
4.6%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.9%
0.9%
More than one person per room
Unreliable estimate
Unreliable estimate
2.0%
3.4%
People per household
2.31
2.40
2.43
2.53
Drive alone
57%
72%
77%
69%
Carpool
18%
14%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
Unreliable estimate
2%
3%
Work from home
Unreliable estimate
11%
10%
15%
Other means
Unreliable estimate
Unreliable estimate
1%
2%
Typical commute
Unreliable estimate
10 to 19 minutes
20 to 29 minutes
20 to 29 minutes
Much as in Wayne County, a household in Monticello has 2.31 people on average.
In Monticello, 18% of workers share a car to get to work; in Wayne County, 14%.
Do the math
What would you pay each month for a home in Monticello?
A typical home is tight for the typical income
We start with a typical home in Monticello, worth $132,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 28% of the typical household income in Monticello, which is $44,952 a year. For that payment to be 28% of income, a household would need to earn about $45,265 a year.
The calculator's FHA and conventional loan limits are those of all of Wayne County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Monticello. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $4,634 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,056
at 7.18% · 30 years
Loan amount
$130,002
Total interest
$187,042
Paid off in
November 2056
Includes $2,236 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,049 a month
Tight
$1,049 to $1,349 a month
Your payment · 28%
Hard
more than $1,349 a month
Compared with the typical household income in Monticello ($44,952 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$881
Property tax
$62
Home insurance
$55
FHA mortgage insurance (MIP)
$59
You need at least $4,634 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,056; principal and interest $881.
The city and its county
Monticello and Wayne County
Monticello is in Wayne County, Kentucky. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Monticello
Map of Wayne County, Kentucky, with Monticello marked. Around it, the neighboring counties.
Monticello
Wayne County
Monticello's own numbers
Typical home value
$132,400
Typical monthly rent
$779
Typical yearly household income
$44,952
Households that own their home
54%
Effective property tax rate
0.56%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Wayne County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$909
Price change over 5 years (FHFA)
+67%
Homes in a high flood-risk zone
1.1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Wayne County.
A typical home in Monticello is worth $132,400: 2% below the county and 36% below Kentucky. With the typical household income in Monticello ($44,952 a year), a typical home costs 2.9 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Monticello2.9 years
Wayne3.0 years
Kentucky3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Wayne County
According to FHFA’s house price index, home prices in Wayne County rose 102% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Wayne County.
Yearly change in FHFA’s price index in Wayne County, 2016 to 2025
2016: +6.8% +6.8% 2016
2017: −0.5% −0.5% 2017
2018: +3.0% +3.0% 2018
2019: +5.7% +5.7% 2019
2020: +4.4% +4.4% 2020
2021: +14.7% +14.7% 2021
2022: +11.3% +11.3% 2022
2023: +11.3% +11.3% 2023
2024: +10.5% +10.5% 2024
2025: +6.5% +6.5% 2025
Change in FHFA’s price index in Wayne County, Kentucky and the United States
Period
County
Kentucky
U.S.
Last year (2025)
+6.5%
+3.9%
+2.9%
5 years (2020–2025)
+67%
+50%
+47%
10 years (2015–2025)
+102%
+84%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Monticello next to Wayne County, Kentucky and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Monticello$132,400
Wayne$135,700
Kentucky$205,600
United States$332,700
Typical monthly rent
Monticello$779
Wayne$727
Kentucky$967
United States$1,413
Typical yearly household income
Monticello$44,952
Wayne$45,739
Kentucky$63,726
United States$80,734
See the full table
Monticello next to Wayne County and Kentucky
Measure
Monticello
Wayne County
Kentucky
U.S.
Typical home value
$132,400 ▼2% below the county
$135,700
$205,600
$332,700
Typical monthly rent
$779 ▲7% above the county
$727
$967
$1,413
Typical yearly household income
$44,952
$45,739
$63,726
$80,734
Households that own their home
54% ▼15 points below the county
69%
68%
65%
Typical yearly property tax
$735 ▼3% below the county
$758
$1,544
$3,119
Effective property tax rate
0.56%
0.56%
0.75%
0.94%
Renters with high rent for their income
39% ▼1 points below the county
40%
45%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Wayne County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Monticello
For a typical $132,400 home in Monticello, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Monticello's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,056a month
Least cash to close
Down payment
$4,634
Cash to close
$8,606
Rate
7.18%
Mortgage insurance
FHA MIP · $59
Conventional, 5% down$1,032a month
Down payment
$6,620
Cash to close
$10,592
Rate
7.18%
Mortgage insurance
PMI · $63
Conventional, 20% down, no PMI$834a month
Down payment
$26,480
Cash to close
$30,452
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$957a month
Down payment
$19,860
Cash to close
$23,832
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Monticello
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,056
$4,634
$130,002
7.18%
FHA MIP · $59
$8,606
580
Conventional, 5% down
$1,032
$6,620
$125,780
7.18%
PMI · $63
$10,592
620*
Conventional, 20% down, no PMI
$834
$26,480
$105,920
7.18%
None
$30,452
620*
ITIN, 15% down (example)
$957
$19,860
$112,540
8.18%
None
$23,832
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Monticello is $779 a month: 7% above the county. In Monticello, 39% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Wayne County, by unit size. To pay the 2-bedroom one ($909 a month) without spending more than 30% of your income, you would need to earn $17.48 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Wayne County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$650
$12.50
$26,000
1 bedroom
$834
$16.04
$33,360
2 bedrooms
$909
$17.48
$36,360
3 bedrooms
$1,259
$24.21
$50,360
4 bedrooms
$1,519
$29.21
$60,760
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Monticello
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Monticello is in ZIP code 42633.
For 2 bedrooms it is $910: $1 more than the fair market rent for Wayne County ($909).
Fair market rent by ZIP code and size in Monticello, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
42633
$650
$830
$910
$1,260
$1,520
ZIP code2 bd3 bd
42633 $910$1,260
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Monticello when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 7 buildings with rents for lower incomes in Monticello. These are the largest.
Homestead Heights155 Conn St, Monticello 42633103 homes, 102 low-income · Run by Housing Authority of Monticello · Average payment: $376 a month · Average wait: 14 months · Homes at several sites(606) 348-6286
Mason Greene Apartments345 Stokes St, Monticello 4263368 low-income homes · For families(606) 348-5242
Beech Valley Manor301 Beech Valley Mnr, Monticello 4263332 low-income homes · For older adults(606) 348-9676
Monticello Senior ApartmentsCumberland Court DR., Monticello 4263324 low-income homes · 1 bd: 24 · In service since 1995 · For older adults
Monticello VillageSurrey Hill Road, Monticello 4263323 low-income homes · 1 bd: 8 · 2 bd: 15 · In service since 2012 · For families
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Wayne County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Monticello or Wayne County. The ones below are statewide in Kentucky: they work in Monticello the same as in the rest of the state.
Kentucky state corporation loan of up to $12,500 for the down payment and closing costs, repaid over 15 years as a second loan, for buyers who take a KHC mortgage.Offered by Kentucky Housing Corporation (KHC).
No legal help resource on our list is for Monticello or Wayne County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Monticello and all of Wayne County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Monticello?
The typical home value in Monticello is $132,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Wayne County it is $135,700.
How much does it cost to rent in Monticello?
Typical rent in Monticello is $779 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Wayne County is $909.
What is the FHA loan limit in Monticello?
Monticello uses the FHA limit for all of Wayne County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Monticello?
The typical homeowner in Monticello pays $735 a year, according to the U.S. Census Bureau. That is 0.56% of the home’s value; in Wayne County, the rate is 0.56%.
Where can I find free help to buy or rent in Monticello?
We found no HUD-approved counseling agencies with an office in Wayne County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
