Affordable

What Salary Do You Need to Live in Monticello?

To afford a 2-bedroom in Monticello, you need to earn at least $32,040/year based on estimated fair market rent data. The median household income here is $65,266, which means the typical resident is $33,226 above the threshold.

Census ACS Data Pop. 4,034

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$561	$1,870	$22,440	$-42,826
1 Bedroom	$665	$2,217	$26,600	$-38,666
2 Bedroom BENCHMARK	$801	$2,670	$32,040	$-33,226
3 Bedroom	$977	$3,257	$39,080	$-26,186
4 Bedroom	$1,202	$4,007	$48,080	$-17,186

Affordability Breakdown

Where the required salary line crosses above Monticello's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$65,266

Annual household

2BR Required Salary

$32,040

Under 30% rule

Income Gap

+$33,226

Surplus

Verdict

Affordable

Ratio: 14.7%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Monticello

Your Annual Salary

Pre-filled with Monticello's median household income

Max monthly rent you can afford$1,632

Studio

$561/mo

1 BR

$665/mo

2 BR

$801/mo

3 BR

$977/mo

4 BR

$1,202/mo

Your salary is $0 above the median income in Monticello.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Monticello's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Monticello

Monticello, Iowa stands out as one of the more financially accessible housing markets in the state. The median household income of $65,266 significantly exceeds the $32,040 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $33,226 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Monticello, a studio at $561/month offers an even more aggressive savings rate. Even a 3-bedroom at $977/month remains accessible for dual-income households earning above $39,080.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $48,060 would position you well — though many residents in Monticello manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Monticello, Iowa.

With a total population of 4,034, the city supports an active civilian workforce of 2,231 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $32,040 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

2,231

Active civilian employees in Monticello

Frequently Asked Questions About Renting in Monticello

What salary do I need to live in Monticello, Iowa?

To afford a 2-bedroom in Monticello under the 30% rule, you need an annual salary of at least $32,040. The median household income in Monticello is $65,266.

Can I afford a 2-bedroom in Monticello on $65,266?

The affordability verdict for Monticello is "Affordable". The rent-to-income ratio is 14.7%, meaning median earners have a $33,226 surplus.

What is the average rent in Monticello compared to median income?

The median gross rent in Monticello is $665/month. With a median household income of $65,266, residents spend approximately 14.7% of their income on rent.

What salary do I need for a studio in Monticello?

A studio in Monticello rents for approximately $561/month. Under the 30% rule, you need an annual salary of $22,440 to afford this.

Is Monticello considered an affordable place to live?

Based on the surplus of $33,226 and an affordability verdict of "Affordable", Monticello is considered a affordable rental market when comparing the required 2-bedroom salary of $32,040 to the local median household income.

How Monticello Compares

Other cities in Iowa with salary requirements