2

Monticello, KY Homes for Rent

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  • /11

    $750 Per Month

    • 2 Beds
    • 1 Bath
    • House for Rent

    15 Carter Gregory, Monticello, KY 42633

    Property Id: 1749116This is a recently remodeled 2 bedroom, 1 bath unit. Kitchen and bathrooms have been updated, new paint, partial new flooring. Brand new porch and big yard to enjoy!

    15 Carter Gregory, Monticello, KY 42633
  • /30

    $1,500 Per Month

    • 3 Beds
    • 2 Baths
    • 1,200 Sq Ft
    • Townhouse for Rent

    302 Clear Sky Way, Monticello, KY 42633

    Practically brand new 3 BR, 2BA luxury duplex located 5 min to downtown Monticello & just 20 min to Somerset. Practically brand new 3BR, 2BA luxury duplex located 5 min. to downtown Monticello & just 20 minutes to Somerset.

    302 Clear Sky Way, Monticello, KY 42633

Why Live in Monticello

Monticello, KY, a small city near Lake Cumberland, is known for its strong community feel and growing housing market. The city offers a variety of things to do, from outdoor recreation at Lake Cumberland and Big South Fork National River and Recreation Area to local events like the Lake Cumberland Fall Festival and Wayne County Fair & Horse Show. Monticello-Wayne County Memorial Park provides ample recreational facilities, including athletic fields, playgrounds, and a disc golf course. The Aspire Community Center features an outdoor pool and indoor courts for basketball and pickleball. Housing styles in Monticello range from early-20th-century National Folk and Craftsman homes to mid-20th-century ranch-style houses and newer rustic properties near the lake, such as A-frame cabins and modern farmhouses. Local dining options include Black Stallion Steak House, City Pool Hall, and The Boathouse, with fresh produce available at the Wayne County Farmers Market. The city is car-dependent, with State routes 90 and 92 intersecting and providing access to Lexington, 110 miles away. Wayne County Public Schools serve the educational needs of the community, with various schools offering different grade levels. Monticello is experiencing growth with new employers like Centaurus Farms and Provalus, promising to bring additional jobs to the area.

Frequently Asked Questions

How much does it cost to rent a home in Monticello, KY?
The median rent for a home in Monticello, KY is $1,125 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 while townhouses are currently more expensive.
How much do you need to make to afford rent in Monticello, KY?
To comfortably afford the median rent in Monticello, KY, a household needs to earn roughly $45,000 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 $1,125 per month in Monticello, KY, renters typically need to show $3,375 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, KY?
In Monticello, KY, the price-to-rent ratio is 12.6, 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 Home Trends

Number of Homes for Rent
2
Median Rent
$1,125
Median Single Family Home Rent
$750
Median Townhouse Rent
$1,500
How to Rent a Home