Cost of Living in Monticello, MN
Population 14,607 · Minnesota · Data vintage 2023
(100 = US avg)
Monticello is a smaller Minnesota community of around 15000 residents, where median household incomes of $81,563 and housing costs ($298,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. The labor market has been unusually tight, with unemployment around 2.2% — below most comparable cities in the state.
Monticello is about 35 miles northwest of Minneapolis, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 14% lower than Minneapolis' $346,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Monticello
The median home value in Monticello is $298,400 — 2% below the national median of $305,000. Median rent runs $1,462/month, 11% higher than the national median of $1,314/month. The median household income of $81,563/year is 9% higher than the US median of $74,580. The local unemployment rate is 2.2%, below the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Monticello has a cost of living index of 103 versus the US average of 100, meaning it is 3% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Monticello, MN?
Monticello has a cost index of 103 (100 = national average). It is 3% above the national average.
What is average rent in Monticello, MN?
The median gross rent in Monticello is $1,462 per month based on 2023 Census data.
What is the average home price in Monticello?
The median home value in Monticello is $298,400 according to Zillow and Census data.
What is the median income in Monticello?
The median household income in Monticello is $81,563 per year (2023 ACS 5-year estimates).
What is the sales tax in Monticello, MN?
The combined state and local sales tax rate in Monticello is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Monticello, MN affordable?
Monticello is near the national average in terms of cost of living, with an index of 103 (100 = US average).
Monticello at a Glance
- Population
- 14,607
- Median Income
- $81,563
- Home Value
- $298,400
- Median Rent
- $1,462/mo
- Unemployment
- 2.2%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
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