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These days, finding an affordable place to live in the Monroe area can be challenging. Home prices in Monroe are now at a median cost of $200,337, lower than the Michigan average of $250,415.
The average cost of rent is $962/mo in Monroe, primarily driven by the current value of real estate in the Monroe area. In Monroe, 24.43% of households rent, and 40.18% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monroe is $5,602 per month. Households that rent pay about 17.18% of their income on rent here. Monroe’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Detroit Beach, MI: higher priced homes
- Bolles Harbor, MI: equally priced homes
- La Salle, MI: higher priced homes
- Scofield, MI: higher priced homes
- Newport, MI: higher priced homes
- Oldport, MI: higher priced homes
- Luna Pier, MI: equally priced homes
- Carleton, MI: higher priced homes
- Estral Beach, MI: less expensive homes
- Ida, MI: higher priced homes
Cities with Similar Populations
- Aspen Hill, MD: higher priced homes
- Findlay, OH: higher priced homes
- Evans, GA: higher priced homes
- Enid, OK: less expensive homes
- Encinitas, CA: higher priced homes
- Edina, MN: higher priced homes
- Downers Grove, IL: higher priced homes
- Delaware, OH: higher priced homes
- Crown Point, IN: higher priced homes
- Collierville, TN: higher priced homes
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