2

Newest Homes for Rent in Monticello, IN

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  • /12

    $1,750 Per Month

    • 1 Bed
    • 1 Bath
    • 900 Sq Ft
    • House for Rent

    9775 N Rock Ridge Rd, Monticello, IN 47960

    Property Id: 2592718Private Furnished Cottage on the Tippecanoe River - All Utilities IncludedWelcome to your home away from home in Monticello, Indiana. This fully furnished private cottage offers approximately 900 square feet of comfortable living space and is located on the beautiful Tippecanoe River, just minutes from Lake Shafer.Ideal for travel nurses, healthcare

    (219) 951-4372

    9775 N Rock Ridge Rd, Monticello, IN 47960
  • /10

    $1,500

    Total Monthly Price

    • 3 Beds
    • 1 Bath
    • 936 Sq Ft
    • House for Rent

    216 Heritage Rd, Monticello, IN 47960

    This 3 bedroom 1 bath home is in a quiet neighborhood on the edge of town and features a washer and dryer and a gas oven!

    216 Heritage Rd, Monticello, IN 47960

Frequently Asked Questions

How much does it cost to rent a home in Monticello, IN?
The median rent for a home in Monticello, IN is $1,500 per month, though prices vary by neighborhood, size, and property type. As of June 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Monticello, IN?
To comfortably afford the median rent in Monticello, IN, a household needs to earn roughly $60,000 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 $1,500 per month in Monticello, IN, renters typically need to show $4,500 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, IN?
In Monticello, IN, the price-to-rent ratio is 11.4, 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.

Rental Trends in Monticello, IN

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$1,500
Median Single Family Home Rent
$1,500
How to Rent a Home