Living in Monterey, Indiana
Cost of living, income, home prices, rent and demographics of Monterey · Census data 2020–2024
Monterey has 143 residents with a median age of 53.3. The median household income is $39,149 (46% lower than the Indiana median), the median home value is $82,500, the median rent is $628/month.
Monterey is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Monterey at a glance
- Population
- 143
- Median age
- 53.3State: 38.1
- Median household income
- $39,149State: $71,957
- Median home value
- $82,500State: $218,200
- Median rent
- $628/moState: $1,062
- Homeowners
- 40.2%
- Bachelor's degree or higher
- 7.9%
- Average commute
- 17 min
Is Monterey a good place to live?
Pros: Home values 62% lower than the state median; an average commute of 17 minutes.
Cons: Median household income 46% lower than the Indiana median; a poverty rate of 13.3%.
The weather is best in June to September.
Cost of living in Monterey
Housing is the biggest part of the cost of living. In Monterey the median home value is $82,500, 75% lower than the U.S. median. Renters pay a median of $628 per month, which is 17.8% of household income. Homeowners with a mortgage pay $1,050 a month in housing costs.
Monterey median household income
The median household income in Monterey is $39,149 and the income per person is $33,169. 13.3% of residents live below the poverty line (Indiana: 12.3%).
Housing in Monterey: homes for sale and rent
- Housing units
- 102
- Owner-occupied
- 40.2%
- Renter-occupied
- 59.8%
- Vacant
- 9.8%Includes seasonal homes
- Median year built
- 1978
- Average household size
- 1.55
Monterey demographics
- Population
- 143
- Median age
- 53.3
- Under 18
- 10.5%
- 65 and older
- 11.2%
- Households
- 92
- Foreign-born
- 0%
- Veterans
- 3.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Monterey ›
Education in Monterey
7.9% of adults 25 and older in Monterey have a bachelor's degree or higher (Indiana: 29.5%), and 0% have a graduate or professional degree.
Jobs and commute in Monterey
- Unemployment rate
- 0%State: 4.3%
- Average commute
- 17 minState: 24 min
- Work from home
- 8.3%
- Drive alone
- 38.5%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 94.6%
Monterey vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Monterey | 143 | $39,149 | $82,500 | $628 |
| Hartz Lake | 312 | $45,360 | — | — |
| Culver | 1,392 | $42,857 | $243,900 | $649 |
| Lake Bruce | 163 | $31,750 | — | — |
| Leiters Ford | 183 | $43,798 | $331,400 | — |
| Bass Lake | 983 | $73,086 | $324,600 | $1,278 |
| Winamac | 2,473 | $47,083 | $147,600 | $742 |
| Kewanna | 533 | $36,528 | $77,300 | — |
| Knox | 3,479 | $48,931 | $140,300 | $540 |
More for people moving to Monterey
Monterey ZIP code ›Weather and climate ›Living in Monterey: FAQ
What is the median household income in Monterey, IN?
The median household income in Monterey is $39,149, 46% lower than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Monterey?
The median home value in Monterey is $82,500, compared with $218,200 in Indiana.
How much is rent in Monterey?
The median gross rent in Monterey is $628 per month, about 17.8% of household income.
Is Monterey, IN a good place to live?
Pluses: home values 62% lower than the state median; an average commute of 17 minutes. Minuses: median household income 46% lower than the Indiana median; a poverty rate of 13.3%.
What is the median age in Monterey?
The median age in Monterey is 53.3 years (Indiana: 38.1).
How long is the commute in Monterey?
The average commute to work in Monterey is 17 minutes; 8.3% of workers work from home.
What is the unemployment rate in Monterey?
The unemployment rate in Monterey is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Monterey?
7.9% of adults in Monterey have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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