Due to its total area of just over half a square mile, Monument does not have distinct neighborhoods in the traditional urban sense. Instead, the community is understood geographically:
- **Town Center**: The small core along Main Street (Highway 402), housing the school, the post office, and civic buildings. - **Riverfront**: Properties sitting adjacent to the North Fork John Day River, often featuring more trees and direct water access. - **Outskirts/Ranchlands**: The immediate areas outside the city limits, transitioning directly into large-acreage cattle ranches and agricultural fields.