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City · 10,662 residents · Fluvanna County, Virginia

Lake Monticello , Virginia

In Lake Monticello, a typical home is worth $325,900 and typical rent is $1,981 a month. Compared with all of Fluvanna County, typical rent is 65% higher, typical household income is 10% higher, and the share of households that own their home is 7 points higher.

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  • Typical home value

    $325,900

    4% above the county

    15% below Virginia

    • Lake Monticello
    • Fluvanna
    • Virginia

  • Typical rent

    $1,981a month

    65% above the county

    25% above Virginia

    • Lake Monticello
    • Fluvanna
    • Virginia

  • Typical household income

    $106,818a year

    10% above the county

    15% above Virginia

    • Lake Monticello
    • Fluvanna
    • Virginia

  • Households that own their home

    96%

    7 points above the county

    29 points above Virginia

    • Lake Monticello
    • Fluvanna
    • Virginia

Source: U.S. Census Bureau, Average 2020–2024

Lake Monticello is in Fluvanna County. The FHA loan limit ($598,000 for a one-unit home), the fair market rents and the help on this page are those of all of Fluvanna County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Lake Monticello apart

What this place has that others do not, from public data, most unusual first.

  1. The typical rent in Lake Monticello is $1,981 a month, 65% more than in Fluvanna County as a whole ($1,204).

  2. Nearby, in Orange, the typical rent is $1,103: 44% less than in Lake Monticello ($1,981).

  3. Lake Monticello has the 7th highest homeownership rate of the 158 cities in Virginia with more than 5,000 people (96%).

  4. Nearby, in Orange, the typical home value is $273,300: 16% less than in Lake Monticello ($325,900).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Lake Monticello

What homes there are in Lake 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 houses, standing on their own, make up 99% of homes here, against 90% in Fluvanna County.

Year built

In Lake Monticello, half of the homes were built before 1997; in Fluvanna County, before 1995.

There is more room for a big family here: 97% of homes have 3 bedrooms or more, against 89% in Fluvanna County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,785 a month

Fluvanna County: $1,777 a month

Without a mortgage

$666 a month

Fluvanna County: $583 a month

Owners with a mortgage

70%

Fluvanna County: 68%

The typical cost for an owner with a mortgage in Lake Monticello is $1,785 a month, near the figure in Fluvanna County ($1,777).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Lake Monticello rose 42%; in Fluvanna County, it rose 34%.

Rent in Lake Monticello moved so little since 2015–2019 that the Census cannot say whether it rose or fell.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLake MonticelloFluvanna CountyVirginiaUnited States
Rental vacancy Unreliable estimateUnreliable estimate4.8%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.1%3.4%
People per household 2.502.592.522.53
Drive alone 63%69%68%69%
Carpool 10%12%8%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike Unreliable estimateUnreliable estimate2%3%
Work from home 22%17%18%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate30 to 39 minutes20 to 29 minutes20 to 29 minutes

A household in Lake Monticello has 2.50 people on average, about the same as in Fluvanna County (2.59).

Working from home is more common in Lake Monticello: 22%, against 17% in Fluvanna County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Lake Monticello?

A typical home is tight for the typical income

We start with a typical home in Lake Monticello, worth $325,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 29% of the typical household income in Lake Monticello, which is $106,818 a year. For that payment to be 28% of income, a household would need to earn about $112,118 a year.

The calculator's FHA and conventional loan limits are those of all of Fluvanna County.

Your numbers

Local data
$

Starts at the typical home value in Lake Monticello. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $11,407 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,616

at 7.18% · 30 years

Loan amount
$319,997
Total interest
$460,400
Paid off in
November 2056

Includes $5,504 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,492 a month

  • Tight

    $2,492 to $3,205 a month

    Your payment · 29%

  • Hard

    more than $3,205 a month

Compared with the typical household income in Lake Monticello ($106,818 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,616
Principal & interest$2,168
Property tax$168
Home insurance$136
FHA mortgage insurance (MIP)$144

You need at least $11,407 for the down payment, plus closing costs.

Next step

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.

The city and its county

Lake Monticello and Fluvanna County

Lake Monticello is in Fluvanna County, Virginia. 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).

Lake Monticello's own numbers

Typical home value
$325,900
Typical monthly rent
$1,981
Typical yearly household income
$106,818
Households that own their home
96%
Effective property tax rate
0.62%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Fluvanna County

FHA limit, one-unit home
$598,000
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,642
Price change over 5 years (FHFA)
+44%
Homes in a high flood-risk zone
0.2%

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 Fluvanna County.

Everything about Fluvanna County

Buying

Buying a home in Lake Monticello

A typical home in Lake Monticello is worth $325,900: 4% above the county and 15% below Virginia. With the typical household income in Lake Monticello ($106,818 a year), a typical home costs 3.1 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.

  • Lake Monticello 3.1 years
  • Fluvanna 3.2 years
  • Virginia 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Fluvanna County

According to FHFA’s house price index, home prices in Fluvanna County rose 69% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Fluvanna County.

Period County Virginia U.S.
Last year (2025) −0.8% +3.7% +2.9%
5 years (2020–2025) +44% +49% +47%
10 years (2015–2025) +69% +75% +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

Lake Monticello next to Fluvanna County, Virginia and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Lake Monticello $325,900
  • Fluvanna $314,100
  • Virginia $383,700
  • United States $332,700
Typical monthly rent
  • Lake Monticello $1,981
  • Fluvanna $1,204
  • Virginia $1,579
  • United States $1,413
Typical yearly household income
  • Lake Monticello $106,818
  • Fluvanna $96,768
  • Virginia $93,170
  • United States $80,734
See the full table
Lake Monticello next to Fluvanna County and Virginia
Measure Lake Monticello Fluvanna County Virginia U.S.
Typical home value $325,900 $314,100 $383,700 $332,700
Typical monthly rent $1,981 $1,204 $1,579 $1,413
Typical yearly household income $106,818 $96,768 $93,170 $80,734
Households that own their home 96% 89% 67% 65%
Typical yearly property tax $2,011 $1,967 $2,790 $3,119
Effective property tax rate 0.62% 0.63% 0.73% 0.94%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Fluvanna 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 Lake Monticello

For a typical $325,900 home in Lake Monticello, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lake Monticello's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,616a month

    Least cash to close
    Down payment
    $11,407
    Cash to close
    $21,184
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $144

  • Conventional, 5% down $2,556a month

    Down payment
    $16,295
    Cash to close
    $26,072
    Rate
    7.18%
    Mortgage insurance
    PMI · $155

  • Conventional, 20% down, no PMI $2,070a month

    Down payment
    $65,180
    Cash to close
    $74,957
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,372a month

    Down payment
    $48,885
    Cash to close
    $58,662
    Rate
    8.18%
    Mortgage insurance
    None

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.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Lake Monticello and for Fluvanna County.

Property tax

Effective rate in Lake Monticello

0.62%of the home’s value each year

$2,011 a year for the typical owner in Lake Monticello.

  • Lake Monticello 0.62%
  • Fluvanna 0.63%
  • Virginia 0.73%

What Virginia publishes Local exemption or deferral for people 65 and older or with disabilities (Virginia General Assembly (Code of Virginia))

Exemptions and deadlines in Virginia

Flood risk in Fluvanna County

FEMA does not publish these numbers by city: they are for all of Fluvanna County.

Homes in the high-risk zone
0.2%
23
Of those, with NFIP insurance
17%
County Virginia U.S.
Homes in the high-risk zone 0.2% 1.5% 3.5%
Of those, with NFIP insurance 17% 100% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Lake Monticello

Typical rent in Lake Monticello is $1,981 a month: 65% above the county.

HUD publishes a fair market rent for all of Fluvanna County, by unit size. To pay the 2-bedroom one ($1,642 a month) without spending more than 30% of your income, you would need to earn $31.58 an hour working full time.

HUD fair market rent for all of Fluvanna County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,279 $24.60 $51,160
1 bedroom $1,442 $27.73 $57,680
2 bedrooms $1,642 $31.58 $65,680
3 bedrooms $1,997 $38.40 $79,880
4 bedrooms $2,458 $47.27 $98,320

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 Lake Monticello

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lake Monticello is in ZIP code 22963.

For 2 bedrooms it is $1,820: $178 more than the fair market rent for Fluvanna County ($1,642).

  • 22963 $1,820$2,220

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lake 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 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Lake Monticello

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 Fluvanna County. The nearest ones are below; many serve by phone or online.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Lake Monticello

No down payment, repair or rent-help program on our list is for Lake Monticello or Fluvanna County. The ones below are statewide in Virginia: they work in Lake Monticello the same as in the rest of the state.

Which programs do I qualify for? All programs in Virginia

  • Down Payment Assistance Grant

    Statewide in Virginia

    Virginia state agency down payment grant that you do not repay; for first-time buyers, or any buyer in economic opportunity zones, with a Virginia Housing mortgage. Offered by Virginia Housing (Virginia Housing Development Authority).

    Grant

    See the program Official page

  • Virginia Housing Plus Second Mortgage

    Statewide in Virginia

    Virginia Housing 30-year fixed-rate second mortgage of up to 5% of the price for the down payment (and part of the closing costs with a credit score of 680 or higher); for first-time buyers and for people who have owned a home before. Offered by Virginia Housing (Virginia Housing Development Authority).

    Type not stated

    See the program Official page

  • Closing Cost Assistance Grant

    Statewide in Virginia

    Virginia Housing grant that you do not repay, of up to 2% of the price, for the closing costs of buyers with a Virginia Housing RD (Rural Development) or VA loan. Offered by Virginia Housing (Virginia Housing Development Authority).

    Grant

    See the program Official page

Housing counselors near Lake Monticello

The HUD-approved agencies closest to the center of Lake Monticello, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Greater Charlottesville Habitat for Humanity

    967 2nd St SE, Charlottesville · 11 miles away · Spanish

    • Budget and financial counseling
    • Budget and credit workshops
    • and 5 more
    (434) 293-9066

  • Piedmont Housing Alliance

    682 Berkmar Cir, Charlottesville · 14 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (434) 817-2436

  • Skyline Community Action Partnership, Inc.

    532 S Main St, Madison · 32 miles away

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 6 more
    (540) 948-3916

All counseling agencies in Virginia

Help in Spanish near Lake Monticello

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Lake Monticello

HUD lists no housing authority with an office in Fluvanna County. One in a neighboring county or the state’s may serve the area.

All housing agencies in Virginia Source: HUD

Cities

Nearby cities

The cities closest to Lake Monticello, with the typical home value.

Everything about Fluvanna County Housing in Virginia

Neighboring counties

If Fluvanna County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Lake Monticello.

All guides
A father smiles as he carries his baby on his shoulders outdoors.

Questions

Housing questions about Lake Monticello

Short answers with the numbers for Lake Monticello and all of Fluvanna 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 Lake Monticello?

The typical home value in Lake Monticello is $325,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Fluvanna County it is $314,100.

How much does it cost to rent in Lake Monticello?

Typical rent in Lake Monticello is $1,981 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Fluvanna County is $1,642.

What is the FHA loan limit in Lake Monticello?

Lake Monticello uses the FHA limit for all of Fluvanna County (2026): $598,000 for a one-unit home and $1,150,000 for a four-unit home.

How much property tax do owners pay in Lake Monticello?

The typical homeowner in Lake Monticello pays $2,011 a year, according to the U.S. Census Bureau. That is 0.62% of the home’s value; in Fluvanna County, the rate is 0.63%.

Where can I find free help to buy or rent in Lake Monticello?

We found no HUD-approved counseling agencies with an office in Fluvanna County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).