Monticello, AR Profile: Facts & Data

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Monticello, Arkansas - Basic Facts

The City of Monticello had a population of 9,588 as of July 1, 2020. Monticello ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Arkansas. See peer rankings below.

The primary coordinate point for Monticello is located at latitude 33.629 and longitude -91.791 in Drew County. The formal boundaries for the City of Monticello encompass a land area of 11.02 sq. miles and a water area of 0.01 sq. miles. Drew County is in the Central time zone (GMT -6). The elevation is 299 feet.

The City of Monticello (GNIS ID: 2404290) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The City of Monticello is located within Township of Marion, a minor civil division (MCD) of Drew County.


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Monticello, AR Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 9,588 (100%)
Population in Households 8,870 (92.5%)
Population in Families 6,894 (71.9%)
Population in Group Quarters1 718 ( 7.5%)
Population Density 880
Diversity Index2 54
 
 

INCOME

Median Household Income $37,160
Average Household Income $52,499
% of Income for Mortgage4 12%
Per Capita Income $20,755
Wealth Index5 43
 

HOUSING

Total HU (Housing Units) 4,255 (100%)
Owner Occupied HU 2,119 (49.8%)
Renter Occupied HU 1,590 (37.4%)
Vacant Housing Units 547 (12.9%)
Median Home Value $104,221
Average Home Value $139,377
Housing Affordability Index3 214
 

HOUSEHOLDS

Total Households 3,708
Average Household Size 2.39
Family Households 2,325
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population 0.15% -0.21%
Households 0.06% -0.21%
Families 0.13% -0.38%
Median Household Income   1.71%
Per Capita Income   1.76%
Owner Occupied HU   -0.23%

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Monticello, AR - Peer Comparisons by Rank and Percentile

The table below compares Monticello to the other 540 incorporated cities, towns and CDPs in Arkansas by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 41 93rd
Population Density # 93 83rd
Median Household Income # 353 35th
Housing Affordability Index # 196 36th
Per Capita Income # 342 37th
Diversity Index # 103 81st

Additional comparisons and rankings can be made with a VERY EASY TO USE Arkansas Census Data Comparison Tool.

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