61856, Monticello, IL

Monticello, Illinois is located in the 61856 zip code. According to the 2010 census, the population of Monticello was 3,868. The median household income in Monticello was $77,527 and the median family income was $92,912. In 2008, home prices in Monticello were estimated at $147,000. Home equity in Monticello is estimated at $209,000.

The average home value in the 61856 zip code increased by 10% from 2007 to 2008 and by 13% from 2006 to 2007. The average home value increased by an additional 9% from 2009 to 2010. The increase in home values can be attributed to a number of factors including low interest rates and increasing demand for housing due to an improving economy.

Home equity is important because it provides homeowners with a cushion against unexpected expenses or economic downturns. Homeowners who have a large amount of equity are more likely to stay in their homes during tough times and may be able to borrow money against their homes if they need to purchase another property or take out a loan for other reasons.