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Monticello, IL Homes for Rent

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  • /30

    $2,150 Per Month

    • 3 Beds
    • 2.5 Baths
    • 1,976 Sq Ft
    • Apartment for Rent

    2 Hedgerow Ct, Monticello, IL 61856

    This adorable Arts & Crafts style detached condo has been perfectly updated! Tucked away on a private drive with a lovely commons area, this property is overflowing with charm, starting with a welcoming front porch. Inside you'll find new LVM flooring and a cozy gas fireplace in the living room, a formal dining area, and a wonderfully updated kitchen. Tile flooring, grey cabinets, beadboard

    Natalie Nielsen Pathway Realty, PLLC

    2 Hedgerow Ct, Monticello, IL 61856
  • /18

    $1,450 Per Month

    • 3 Beds
    • 1 Bath
    • 1,165 Sq Ft
    • House for Rent

    1011 Park Dr, Monticello, IL 61856

    YOUR NEXT HOME COULD BE RIGHT HERE! 3 Bedrooms | ? 1 Bathroom | ? 1,165 Sq. Ft. Want to be close to school without giving up space? This one is worth a look. Located just steps from the Monticello Grade School and High School, this home sits on a quiet street and gives you room to actually live. Inside you'll find: • A HUGE 17' x 20' living room • 3 comfortable

    1011 Park Dr, Monticello, IL 61856
  • /11

    $850 Per Month

    • 1 Bed
    • 1 Bath
    • 650 Sq Ft
    • Condo for Rent

    603 N State St Unit 3A, Monticello, IL 61856

    603 N State St Unit 3A, Monticello, IL 61856

Why Live in Monticello

Monticello, IL, is a quiet residential community known for its highly rated schools and vibrant park system. The Monticello Community Unit School District No. 25, along with Washington Elementary School, White Health Elementary School, Monticello Middle School, and Monticello High School, all receive high ratings, making the area attractive to families. Housing options include older bungalows, midcentury ranch-style homes, and New Traditional homes, with some new construction available. The tree-lined streets often feature sidewalks, contributing to the community's quaint atmosphere. Monticello boasts several parks, including Nick's Park, a 1-acre community park with a playground and walking path, and the East Prairie Bicycle & Walking Path, a mile-long trail for walkers, cyclists, runners, and roller bladers. The Monticello Family Aquatic Center offers six swimming lanes and a water slide. Dining options include 3Ravens Food & Spirits, an Irish-American pub, and Filippo's Pizza, a local favorite since the 1970s. Residents shop at County Market and have access to fast food chains like McDonald's, Dairy Queen, and Subway. Kirby Medical Center provides primary care and emergency services, while Willard Airport, 19 miles away, offers nonstop flights to Chicago O'Hare and Dallas-Fort Worth. Monticello is conveniently located near Interstate 72, approximately 20 miles from Champaign, 30 miles from Decatur, and 45 miles from Bloomington.

Frequently Asked Questions

How much does it cost to rent a home in Monticello, IL?
The median rent for a home in Monticello, IL is $1,450 per month, though prices vary by neighborhood, size, and property type. As of September 2026, single-family homes tend to be the most affordable option while condos are currently more expensive.
How much do you need to make to afford rent in Monticello, IL?
To comfortably afford the median rent in Monticello, IL, a household needs to earn roughly $58,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,450 per month in Monticello, IL, renters typically need to show $4,350 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Monticello, IL?
In Monticello, IL, the price-to-rent ratio is 15.2, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Monticello, IL are best for renting a home?
The best neighborhood for renting in Monticello, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include West Haven, Parkland Ridge, Downtown Champaign, Clark and Campustown, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
3
Median Rent
$1,450
Median Single Family Home Rent
$1,450
Median Condo Rent
$1,500
How to Rent a Home