Quick facts: Monticello, MS

Quick Facts

92.7
Cost of Living
below US average
1,388
Population
144.09
Crime Rate per 1000
above US average
$27,150
Median Income
below US average
$121,000
Median House Price
above US average
$1000.0
Average Rent
below US average
21%
Poverty Rate
above US average
5.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $27,150.

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Income Needed to Buy

βœ— Stretch
$38k/year
Based on $121,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $38k vs median $27,150
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Income Needed to Rent

⚠ Stretch
$43k/year
Based on $1000.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $43k vs median $27,150
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Monticello, MS

Monticello, Mississippi, is a small, welcoming town located in Lawrence County. Known for its friendly atmosphere and rich Southern culture, Monticello serves as a hub for local agriculture and craftsmanship. The town has a population of around 1,500 residents, fostering a tight-knit community feel. Monticello is surrounded by beautiful natural landscapes, including nearby parks and recreational areas that provide ample opportunities for outdoor activities such as fishing, hiking, and picnicking. The local economy is primarily driven by agriculture, with various farms and markets reflecting the region's commitment to farming traditions. Culturally, Monticello hosts several annual events and festivals that celebrate its heritage and foster community involvement. The town also features several historic landmarks that tell the story of its past, including charming architecture that reflects the Southern way of life. Overall, Monticello offers a peaceful rural lifestyle while celebrating its rich history and community spirit, making it a unique place to live or visit in Mississippi.

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