Living in Lake Monticello, Virginia
Cost of living, income, home prices, rent and demographics of Lake Monticello · Census data 2020–2024
Lake Monticello has 10,662 residents with a median age of 42.1. The median household income is $106,818 (15% higher than the Virginia median), the median home value is $325,900, the median rent is $1,981/month.
Lake Monticello at a glance
- Population
- 10,662
- Median age
- 42.1State: 39
- Median household income
- $106,818State: $93,170
- Median home value
- $325,900State: $383,700
- Median rent
- $1,981/moState: $1,579
- Homeowners
- 95.9%
- Bachelor's degree or higher
- 51.8%
- Average commute
- 30 min
Is Lake Monticello a good place to live?
Pros: Median household income 15% higher than the Virginia median; home values 15% lower than the state median; unemployment of 3%; a poverty rate of 6.7%.
Cons: An average commute of 30 minutes.
The weather is best in May–June and September–October.
Cost of living in Lake Monticello
Housing is the biggest part of the cost of living. In Lake Monticello the median home value is $325,900, about the same as the U.S. median. Renters pay a median of $1,981 per month, which is 25.1% of household income. Homeowners with a mortgage pay $1,785 a month in housing costs.
Lake Monticello median household income
The median household income in Lake Monticello is $106,818 and the income per person is $54,583. 6.7% of residents live below the poverty line (Virginia: 9.9%).
Housing in Lake Monticello: homes for sale and rent
- Housing units
- 4,646
- Owner-occupied
- 95.9%
- Renter-occupied
- 4.1%
- Vacant
- 8.4%Includes seasonal homes
- Median year built
- 1997
- Average household size
- 2.50
Lake Monticello demographics
- Population
- 10,662
- Median age
- 42.1
- Under 18
- 21.1%
- 65 and older
- 24.6%
- Households
- 4,258
- Foreign-born
- 1.5%
- Veterans
- 12.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Monticello ›
Education in Lake Monticello
51.8% of adults 25 and older in Lake Monticello have a bachelor's degree or higher (Virginia: 42.2%), and 21.6% have a graduate or professional degree.
Jobs and commute in Lake Monticello
- Unemployment rate
- 3%State: 4.3%
- Average commute
- 30 minState: 27 min
- Work from home
- 21.9%
- Drive alone
- 62.9%
- Public transit
- 0%
- Walk to work
- 1.9%
- Homes with broadband
- 97.6%
Lake Monticello vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lake Monticello | 10,662 | $106,818 | $325,900 | $1,981 |
| Rivanna | 2,211 | $146,328 | $852,400 | — |
| Keswick | 402 | $250,001 | $1,133,100 | — |
| Pantops | 4,665 | $127,552 | $522,900 | $1,881 |
| Scottsville | 510 | $40,417 | $309,600 | $900 |
| Charlottesville | 45,437 | $74,824 | $486,700 | $1,540 |
| University of Virginia | 9,065 | $52,546 | $442,600 | $1,421 |
| Rio | 1,252 | $56,250 | — | $1,688 |
| Hollymead | 8,482 | $118,250 | $435,300 | $2,140 |
More for people moving to Lake Monticello
Lake Monticello ZIP code ›Weather and climate ›Living in Lake Monticello: FAQ
What is the median household income in Lake Monticello, VA?
The median household income in Lake Monticello is $106,818, 15% higher than the Virginia median of $93,170 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lake Monticello?
The median home value in Lake Monticello is $325,900, compared with $383,700 in Virginia.
How much is rent in Lake Monticello?
The median gross rent in Lake Monticello is $1,981 per month, about 25.1% of household income.
Is Lake Monticello, VA a good place to live?
Pluses: median household income 15% higher than the Virginia median; home values 15% lower than the state median; unemployment of 3%; a poverty rate of 6.7%. Minuses: an average commute of 30 minutes.
What is the median age in Lake Monticello?
The median age in Lake Monticello is 42.1 years (Virginia: 39).
How long is the commute in Lake Monticello?
The average commute to work in Lake Monticello is 30 minutes; 21.9% of workers work from home.
What is the unemployment rate in Lake Monticello?
The unemployment rate in Lake Monticello is 3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Monticello?
51.8% of adults in Lake Monticello 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: