Living in Monterey, Tennessee
Cost of living, income, home prices, rent and demographics of Monterey · Census data 2020–2024
Monterey has 2,768 residents with a median age of 27. The median household income is $45,922 (34% lower than the Tennessee median), the median home value is $165,000, the median rent is $715/month.
Monterey at a glance
- Population
- 2,768
- Median age
- 27State: 38.9
- Median household income
- $45,922State: $69,595
- Median home value
- $165,000State: $286,700
- Median rent
- $715/moState: $1,189
- Homeowners
- 58.6%
- Bachelor's degree or higher
- 9.6%
- Average commute
- 21 min
Is Monterey a good place to live?
Pros: Home values 42% lower than the state median; an average commute of 21 minutes; unemployment of 2.2%.
Cons: Median household income 34% lower than the Tennessee median; a poverty rate of 29.9%.
The weather is best in May–June and August–September.
Cost of living in Monterey
Housing is the biggest part of the cost of living. In Monterey the median home value is $165,000, 50% lower than the U.S. median. Renters pay a median of $715 per month, which is 30.6% of household income. Homeowners with a mortgage pay $986 a month in housing costs.
Monterey median household income
The median household income in Monterey is $45,922 and the income per person is $23,188. 29.9% of residents live below the poverty line (Tennessee: 13.8%).
Housing in Monterey: homes for sale and rent
- Housing units
- 1,071
- Owner-occupied
- 58.6%
- Renter-occupied
- 41.4%
- Vacant
- 13.1%Includes seasonal homes
- Median year built
- 1976
- Average household size
- 2.89
Monterey demographics
- Population
- 2,768
- Median age
- 27
- Under 18
- 35.7%
- 65 and older
- 14.7%
- Households
- 931
- Foreign-born
- 5.3%
- Veterans
- 5.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Monterey ›
Education in Monterey
9.6% of adults 25 and older in Monterey have a bachelor's degree or higher (Tennessee: 31.1%), and 4.3% have a graduate or professional degree.
Jobs and commute in Monterey
- Unemployment rate
- 2.2%State: 4.7%
- Average commute
- 21 minState: 26 min
- Work from home
- 3.3%
- Drive alone
- 85.4%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 82.7%
Monterey vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Monterey | 2,768 | $45,922 | $165,000 | $715 |
| Algood | 4,036 | $42,359 | $190,300 | $817 |
| Pleasant Hill | 514 | $51,406 | $175,000 | $1,261 |
| Cookeville | 36,088 | $51,375 | $305,400 | $917 |
| Bowman | 422 | $78,500 | $342,300 | — |
| Bon Air | 205 | $63,750 | — | — |
| Livingston | 3,999 | $39,567 | $123,000 | $730 |
| Grimsley | 1,171 | $57,212 | $150,600 | — |
| Sparta | 4,939 | $50,080 | $217,000 | $731 |
More for people moving to Monterey
Monterey ZIP code ›Weather and climate ›Living in Monterey: FAQ
What is the median household income in Monterey, TN?
The median household income in Monterey is $45,922, 34% lower than the Tennessee median of $69,595 (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 $165,000, compared with $286,700 in Tennessee.
How much is rent in Monterey?
The median gross rent in Monterey is $715 per month, about 30.6% of household income.
Is Monterey, TN a good place to live?
Pluses: home values 42% lower than the state median; an average commute of 21 minutes; unemployment of 2.2%. Minuses: median household income 34% lower than the Tennessee median; a poverty rate of 29.9%.
What is the median age in Monterey?
The median age in Monterey is 27 years (Tennessee: 38.9).
How long is the commute in Monterey?
The average commute to work in Monterey is 21 minutes; 3.3% of workers work from home.
What is the unemployment rate in Monterey?
The unemployment rate in Monterey is 2.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Monterey?
9.6% 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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