MONTICELLO HOUSING MARKET INFORMATION With 7,221 people, 2,840 houses or apartments, and a median cost of homes of $315,987, Monticello real estate and house prices are near the national average for all cities and towns. Large apartment complexes or high rise apartments are the single most common housing type in Monticello, accounting for 40.56% of the village's housing units. Other types of housing that are prevalent in Monticello include single-family detached homes ( 32.24%), duplexes, homes converted to apartments or other small apartment buildings ( 17.13%), and a few mobile homes or trailers ( 5.27%). Villages with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact villages that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen. Monticello is dominated by renter-occupied one, two, or no bedrooms apartments. 73.51% of Monticello's dwellings are rentals. There is a lot of housing in Monticello built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Monticello built between 1940-1969 ( 28.12%). A lesser amount of the housing stock also hails from before 1939 ( 24.50%). There's also some housing in Monticello built between 2000 and later ( 10.70%). Vacant housing appears to be an issue in Monticello. Fully 15.85% of the housing stock is classified as vacant. Left unchecked, vacant Monticello homes and apartments can be a drag on the real estate market, holding Monticello real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor. MONTICELLO HOME APPRECIATION RATES In the last 10 years, Monticello has experienced some of the highest home appreciation rates of any community in the nation. Monticello real estate appreciated 193.72% over the last ten years, which is an average annual home appreciation rate of 11.38%, putting Monticello in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Monticello definitely has a track record of being one of the best long term real estate investments in America through the last ten years. Appreciation rates are so strong in Monticello that despite a nationwide downturn in the housing market, Monticello real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monticello appreciation rates continue to be some of the highest in America, at 10.39%, which is higher than appreciation rates in 85.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monticello. Monticello appreciation rates in the latest quarter were at 4.83%, which equates to an annual appreciation rate of 20.75%. Importantly, this makes Monticello one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength. Relative to New York, our data show that Monticello's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.