Total monthly cost of ownership
Cost to Own a Home in Monticello, Iowa
A $161,000 home here costs
$1,429per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $828. The real number is $602 higher every month — 73% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Monticello against Jones County and Iowa
| Measure | Monticello | Jones County |
|---|---|---|
| Median home value | $160,500 | $183,400 |
| Median property tax | $2,422 | $2,381 |
| Effective tax rate | 1.509% | 1.298% |
| Median gross rent | $659 | $759 |
| Population | 4,055 | 20,799 |
The weather behind that power bill
Monticello sits in Jones County, which averages a high of 82.8°F in its hottest month and a low of 8.8°F in its coldest, with 40.15" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 672 cooling and 7,182 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Jones County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jones County
Common questions
How much does it cost to own a home in Monticello?
A $161,000 home in Monticello, Iowa costs approximately $1,429 per month with 20% down at 6.66%. That is $828 principal and interest, $202 property tax, $70 homeowners insurance, $195 utilities and $134 set aside for maintenance.
What is the property tax rate in Monticello?
Monticello has an effective property tax rate of 1.509%, based on a median home value of $160,500 and median real estate taxes of $2,422. That is higher than the Jones County average of 1.298%.
What is the average home price in Monticello?
The median owner-occupied home value in Monticello, Iowa is $160,500, against $183,400 across Jones County.
Is it cheaper to rent or buy in Monticello?
Median gross rent in Monticello is $659 a month, against $1,429 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Monticello — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Iowa.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.