Living in Montevideo, Minnesota
Cost of living, income, home prices, rent and demographics of Montevideo · Census data 2020–2024
Montevideo has 5,315 residents with a median age of 41.9. The median household income is $68,596 (23% lower than the Minnesota median), the median home value is $141,000, the median rent is $851/month.
Montevideo at a glance
- Population
- 5,315
- Median age
- 41.9State: 38.8
- Median household income
- $68,596State: $89,062
- Median home value
- $141,000State: $329,300
- Median rent
- $851/moState: $1,280
- Homeowners
- 65.2%
- Bachelor's degree or higher
- 19%
- Average commute
- 15 min
Is Montevideo a good place to live?
Pros: Home values 57% lower than the state median; an average commute of 15 minutes; unemployment of 2.3%.
Cons: Median household income 23% lower than the Minnesota median; a poverty rate of 19.6%.
The weather is best in June to September.
Cost of living in Montevideo
Housing is the biggest part of the cost of living. In Montevideo the median home value is $141,000, 58% lower than the U.S. median. Renters pay a median of $851 per month, which is 29% of household income. Homeowners with a mortgage pay $1,363 a month in housing costs.
Montevideo median household income
The median household income in Montevideo is $68,596 and the income per person is $30,459. 19.6% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Montevideo: homes for sale and rent
- Housing units
- 2,545
- Owner-occupied
- 65.2%
- Renter-occupied
- 34.8%
- Vacant
- 10.6%Includes seasonal homes
- Median year built
- 1958
- Average household size
- 2.25
Montevideo demographics
- Population
- 5,315
- Median age
- 41.9
- Under 18
- 23.3%
- 65 and older
- 22.4%
- Households
- 2,274
- Foreign-born
- 8.2%
- Veterans
- 10.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Montevideo ›
Education in Montevideo
19% of adults 25 and older in Montevideo have a bachelor's degree or higher (Minnesota: 39.4%), and 5.9% have a graduate or professional degree.
Jobs and commute in Montevideo
- Unemployment rate
- 2.3%State: 4.1%
- Average commute
- 15 minState: 23 min
- Work from home
- 4.6%
- Drive alone
- 85.5%
- Public transit
- 0%
- Walk to work
- 0.3%
- Homes with broadband
- 83.7%
Montevideo vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Montevideo | 5,315 | $68,596 | $141,000 | $851 |
| Watson | 200 | $34,722 | $68,400 | $741 |
| Boyd | 172 | $54,375 | $27,500 | $535 |
| Clarkfield | 913 | $63,359 | $95,600 | $833 |
| Maynard | 234 | $41,563 | $80,000 | $1,420 |
| Granite Falls | 2,685 | $59,375 | $136,700 | $920 |
| Milan | 564 | $53,594 | $71,400 | $1,096 |
| Dawson | 1,513 | $68,929 | $137,500 | $586 |
| Clara City | 1,466 | $63,636 | $114,300 | $1,068 |
More for people moving to Montevideo
Montevideo ZIP code ›Weather and climate ›Living in Montevideo: FAQ
What is the median household income in Montevideo, MN?
The median household income in Montevideo is $68,596, 23% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Montevideo?
The median home value in Montevideo is $141,000, compared with $329,300 in Minnesota.
How much is rent in Montevideo?
The median gross rent in Montevideo is $851 per month, about 29% of household income.
Is Montevideo, MN a good place to live?
Pluses: home values 57% lower than the state median; an average commute of 15 minutes; unemployment of 2.3%. Minuses: median household income 23% lower than the Minnesota median; a poverty rate of 19.6%.
What is the median age in Montevideo?
The median age in Montevideo is 41.9 years (Minnesota: 38.8).
How long is the commute in Montevideo?
The average commute to work in Montevideo is 15 minutes; 4.6% of workers work from home.
What is the unemployment rate in Montevideo?
The unemployment rate in Montevideo is 2.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Montevideo?
19% of adults in Montevideo 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.
Last updated: