Market Overview
Home Prices in Monticello, MS
The median home value in Monticello, MS is $121,580 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.4% compared to a year ago and down 8.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Monticello are priced70% below average.
Over the past five years, Monticello home values have fallen by approximately4.2%, reflecting softening conditions in this market.
Price History
Monticello Home Price Trend
2020
$114,625
$115K
—
2021
$126,946
$127K
+10.7%
2022
$141,199
$141K
+11.2%
2023
$137,066
$137K
-2.9%
2024
$132,966
$133K
-3.0%
2025
$122,110
$122K
-8.2%
2026
$121,580
$122K
-0.4%
City Comparison
Monticello vs. National Median
🏠 Monticello
$121,580
National Median
$410,000
At $121,580, homes in Monticello cost 70% 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
$24,316
on $121,580
Monthly P&I
$634/mo
30-yr @ 6.8%
Total Monthly Est.
~$805/mo
incl. taxes & insurance
Income Needed
$32,200
gross annual (30% rule)
10% Down Option
$12,158
+ PMI applies
Loan Amount (20% dn)
$97,264
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, MS?
The median home value in Monticello is $121,580 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.4% year-over-year.
How much have home prices changed in Monticello?
Over the past year, home values in Monticello have decreased by 0.4%. Over five years, prices have fallen approximately 4.2%.
How much do I need to earn to buy a home in Monticello?
To comfortably afford the median home price of $121,580 with a 20% down payment ($24,316) at today's rates (6.8%), you'd need a gross annual income of approximately $32,200. 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 $121,580, homes in Monticello are 70% below the national average.