Monterey, VA housing market
The typical Monterey home is worth about $285,000, up 4.5% in a year, 31% below the Virginia typical home.
Home values, sales, trends and how Monterey compares with the towns next door — updated as new data is published.
Monterey at a glance
Typical home value, 2016–2026
Show as a table
| January | Monterey | Virginia |
|---|---|---|
| 2017 | $177,000 | $253,000 |
| 2018 | $178,000 | $263,000 |
| 2019 | $180,000 | $271,000 |
| 2020 | $178,000 | $284,000 |
| 2021 | $199,000 | $311,000 |
| 2022 | $223,000 | $345,000 |
| 2023 | $237,000 | $367,000 |
| 2024 | $256,000 | $386,000 |
| 2025 | $274,000 | $405,000 |
| 2026 | $280,000 | $411,000 |
| August 2026 | $285,000 | $415,000 |
A two-bedroom rents for about $910
HUD's Fair Market Rent for a two-bedroom in Monterey is $910 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $740 · 4 bedrooms $1,440
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (24465; Highland County, VA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.