Market Overview
Home Prices in Monticello, IN
The median home value in Monticello, IN is $246,050 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6% compared to a year ago and up 4.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Monticello are priced40% below average. Monticello is part of the Lafayette-West Lafayette, IN metro area.
Over the past five years, Monticello home values have risen by approximately29.9%, reflecting strong long-term appreciation in this market.
Price History
Monticello Home Price Trend
City Comparison
Monticello vs. National Median
At $246,050, homes in Monticello cost 40% below the national median of $410,000. This makes Monticello a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Monticello?
20% Down Payment
$49,210
on $246,050
Monthly P&I
$1,283/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,629/mo
incl. taxes & insurance
Income Needed
$65,160
gross annual (30% rule)
10% Down Option
$24,605
+ PMI applies
Loan Amount (20% dn)
$196,840
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Monticello, IN?
The median home value in Monticello is $246,050 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6% year-over-year.
How much have home prices changed in Monticello?
Over the past year, home values in Monticello have increased by 6%. Over five years, prices have risen approximately 29.9%.
How much do I need to earn to buy a home in Monticello?
To comfortably afford the median home price of $246,050 with a 20% down payment ($49,210) at today's rates (6.8%), you'd need a gross annual income of approximately $65,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Monticello compare to the national average home price?
The national median home value is approximately $410,000. At $246,050, homes in Monticello are 40% below the national average.
What metro area is Monticello part of?
Monticello is part of the Lafayette-West Lafayette, IN metropolitan area. Home prices and market conditions can vary across the broader metro region.