Pros and Cons of Living In Monticello, Kentucky. Is Monticello, KY a Nice Place To Live or Retire?

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Monticello, Kentucky

Moving to Monticello In Kentucky ? Is Monticello, KY a Nice Place To Live? Pros and Cons of Living in Monticello, Kentucky. Find out the best and worst about to live, raise a family or retire in Monticello.

Monticello is a city in Wayne County, Kentucky, in the United States. It is the seat of its county. The population was 5,753 at the time of the 2020 United States census.

Monticello claims to be "The Houseboat Capital of the World" as there are numerous houseboat manufacturers in the city. The city is located along Lake Cumberland. Its economy is built on serving the recreational and tourist traffic to the lake.

DEMOGRAPHICS

Population
5999
Unemployment
10.7%
128% NAT AVG.
Poverty
31.3%
124% NAT AVG.
Cost Of Living
74
26% NAT AVG.

ECONOMICS

Median Home Cost
$97300
58% NAT AVG.
Median Income
$36956
45% NAT AVG.
Median Rent
$565
51% NAT AVG.
Overall Score
4

CRIME REPORT

Total Crime
132
6% NAT. AVG.
9% STATE AVG.
Violent Crime
10
57% NAT. AVG.
35% STATE AVG.
Property Crime
122
4% NAT. AVG.
15% STATE AVG.

SOCIO-ECONOMICS

People Living Below BPL
1 in 3
Unemployed People
1 in 9
People Earning < $10,000
1 in 6
People Earning < $50,000
66.7%
People With Any Degree
1 in 5.3

ETHNICITY

Ethnicity Monticello USA
White 86.5% 60.1%
African American 2.7% 12.2%
American Indian 0.1% 0.6%
Asian 0% 5.6%
Hawaiian 0% 0.2%
Multiracial 2% 2.8%
Hispanic 8.7% 18.2%
Other 0% 0.3%

HOUSEHOLD INCOME

HOUSEHOLD INCOME Monticello USA
Less than $10,000 15.4% 5.8%
$10,000 to $14,999 8.9% 4.1%
$15,000 to $24,999 13.7% 8.5%
$25,000 to $34,999 9.9% 8.6%
$35,000 to $49,999 18.8% 12.0%
$50,000 to $74,999 21.1% 17.2%
$75,000 to $99,999 7.8% 12.8%
$100,000 to $149,999 2.7% 15.6%
$150,000 to $199,999 1.7% 7.1%

EDUCATION

Education Monticello USA
< 9th Grade 16% 5.0%
9-12th Grade 10% 7.0%
High School or GED 38% 27.0%
Other College 17% 20.0%
Associate's Degree 5% 9%
Bachelor's Degree 9% 20.0%
Master's Degree 5% 9.0%
Professional Degree 0% 2.0%
Doctorate Degree 0% 1.0%
Monticello is a city in Kentucky state in USA with a population of 5999 residents.. The poverty rate of Monticello is 31.3%, which is 124% higher than national average. The typical household in Monticello earns $36956 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 3 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 6 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 66.7% of households earn less than $50,000 a year compared to 39% national rate. With a lack of available jobs, many in Monticello are struggling financially. Nearly one in every 1 in every 9 workers in Monticello is unemployed. The unemployment rate of Monticello remained 10.7%, which is 128% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census.

Cost of living in Monticello is 74, which is 26% lower than national average. In Monticello, only 14% of adults have a bachelor's degree and 22% have some college but no degree. Median home value in Monticello is $97300 , which is 58% lower than national average. While median income in Monticello remained $36956, which is 45% lower than national average.
Monticello Scorecard

Jobs40%

Housing40%

Affordability80%

Safety60%

Amenities80%

Diversity60%

Education40%

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