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City · 47,004 residents · Ouachita Parish, Louisiana

Monroe , Louisiana

In Monroe, a typical home is worth $198,900 and typical rent is $886 a month. Compared with all of Ouachita Parish, typical household income is 26% lower, typical rent is 8% lower, and the share of households that own their home is 13 points lower.

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  • Typical home value

    $198,900

    2% above the parish

    8% below Louisiana

    • Monroe
    • Ouachita
    • Louisiana

  • Typical rent

    $886a month

    8% below the parish

    17% below Louisiana

    • Monroe
    • Ouachita
    • Louisiana

  • Typical household income

    $40,505a year

    26% below the parish

    33% below Louisiana

    • Monroe
    • Ouachita
    • Louisiana

  • Households that own their home

    48%

    13 points below the parish

    20 points below Louisiana

    • Monroe
    • Ouachita
    • Louisiana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$154,730
2.9% more than 12 months ago
Typical rent
$1,216 a month
8.5% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Monroe is in Ouachita Parish. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Ouachita Parish. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Monroe apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Bastrop, the typical home value is $87,800: 56% less than in Monroe ($198,900).

  2. The typical household income in Monroe is $40,505, 26% less than in Ouachita Parish as a whole ($54,688).

  3. Nearby, in Grambling, the typical rent is $709: 20% less than in Monroe ($886).

  4. 48% of households in Monroe own their home, against 61% in Ouachita Parish.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Monroe

What homes there are in Monroe, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses, standing on their own, make up 71% of homes here, against 67% in Ouachita Parish.

Year built

Homes in Monroe are older: the typical year built is 1971; in Ouachita Parish, 1983.

In Monroe, 14% of homes have 1 bedroom or none (studios); 60% have 3 bedrooms or more, against 68% in Ouachita Parish.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA loan limit for Ouachita Parish is $541,287, and about 93% of owner-occupied homes in Monroe are worth less than that.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Ouachita Parish is $1,017: about 64% of rents in Monroe are below it.

With a mortgage

$1,495 a month

Ouachita Parish: $1,458 a month

Without a mortgage

$439 a month

Ouachita Parish: $455 a month

Owners with a mortgage

47%

Ouachita Parish: 53%

Owning costs about the same in Monroe as in Ouachita Parish: with a mortgage, $1,495 a month; without one, $439.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Monroe rose 43%; in Ouachita Parish, it rose 33%.

Rents in Monroe rose at about the same pace as in Ouachita Parish: 26% since 2015–2019, against 25%.

While home values in Monroe changed +43% and rent +26%, the typical household income rose 33%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMonroeOuachita ParishLouisianaUnited States
Rental vacancy 9.2%9.3%7.8%5.5%
Homeowner vacancy Unreliable estimate1.4%1.3%0.9%
More than one person per room 1.6%1.6%2.3%3.4%
People per household 2.412.502.492.53
Drive alone 73%78%79%69%
Carpool 12%10%9%9%
Public transit 3%1%1%3%
Walk or bike 4%2%2%3%
Work from home 8%8%8%15%
Other means Unreliable estimate1%2%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

Much as in Ouachita Parish, the rental vacancy rate in Monroe is 9.2%.

Much as in Ouachita Parish, 1.6% of households in Monroe have more than one person per room.

By size, households in Monroe look like those in Ouachita Parish: 2.41 people on average.

The car rules in Monroe: 73% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Monroe?

A typical home costs more than the typical income allows

We start with a typical home in Monroe, worth $198,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 47% of the typical household income in Monroe, which is $40,505 a year. For that payment to be 28% of income, a household would need to earn about $67,574 a year.

The calculator's FHA and conventional loan limits are those of all of Ouachita Parish.

Your numbers

Local data
$

Starts at the typical home value in Monroe. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,962 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,577

at 7.18% · 30 years

Loan amount
$195,297
Total interest
$280,986
Paid off in
November 2056

Includes $3,359 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $945 a month

  • Tight

    $945 to $1,215 a month

  • Hard

    more than $1,215 a month

    Your payment · 47%

Compared with the typical household income in Monroe ($40,505 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,577
Principal & interest$1,323
Property tax$83
Home insurance$83
FHA mortgage insurance (MIP)$88

You need at least $6,962 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Monroe and Ouachita Parish

Monroe is in Ouachita Parish, Louisiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Monroe's own numbers

Typical home value
$198,900
Typical monthly rent
$886
Typical yearly household income
$40,505
Households that own their home
48%
Effective property tax rate
0.5%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Ouachita Parish

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,017
Price change over 5 years (FHFA)
+26%
Homes in a high flood-risk zone
11%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Ouachita Parish.

Everything about Ouachita Parish

Buying

Buying a home in Monroe

A typical home in Monroe is worth $198,900: 2% above the parish and 8% below Louisiana. With the typical household income in Monroe ($40,505 a year), a typical home costs 4.9 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Monroe 4.9 years
  • Ouachita 3.6 years
  • Louisiana 3.6 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Ouachita Parish

According to FHFA’s house price index, home prices in Ouachita Parish rose 36% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Ouachita Parish.

Period Parish Louisiana U.S.
Last year (2025) +4.1% +1.8% +2.9%
5 years (2020–2025) +26% +22% +47%
10 years (2015–2025) +36% +38% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Monroe next to Ouachita Parish, Louisiana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Monroe $198,900
  • Ouachita $194,400
  • Louisiana $216,500
  • United States $332,700
Typical monthly rent
  • Monroe $886
  • Ouachita $959
  • Louisiana $1,064
  • United States $1,413
Typical yearly household income
  • Monroe $40,505
  • Ouachita $54,688
  • Louisiana $60,756
  • United States $80,734
See the full table
Monroe next to Ouachita Parish and Louisiana
Measure Monroe Ouachita Parish Louisiana U.S.
Typical home value $198,900 $194,400 $216,500 $332,700
Typical monthly rent $886 $959 $1,064 $1,413
Typical yearly household income $40,505 $54,688 $60,756 $80,734
Households that own their home 48% 61% 67% 65%
Typical yearly property tax $1,001 $1,054 $1,180 $3,119
Effective property tax rate 0.5% 0.54% 0.55% 0.94%
Renters with high rent for their income 65% 58% 55% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Ouachita Parish. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Monroe

For a typical $198,900 home in Monroe, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Monroe's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,577a month

    Least cash to close
    Down payment
    $6,962
    Cash to close
    $12,929
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $88

  • Conventional, 5% down $1,540a month

    Down payment
    $9,945
    Cash to close
    $15,912
    Rate
    7.18%
    Mortgage insurance
    PMI · $94

  • Conventional, 20% down, no PMI $1,244a month

    Down payment
    $39,780
    Cash to close
    $45,747
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,428a month

    Down payment
    $29,835
    Cash to close
    $35,802
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Monroe and for Ouachita Parish.

Property tax

Effective rate in Monroe

0.5%of the home’s value each year

$1,001 a year for the typical owner in Monroe.

  • Monroe 0.5%
  • Ouachita 0.54%
  • Louisiana 0.55%

What Louisiana publishes Homestead exemption: $7,500 of assessed value (Louisiana State Legislature (Louisiana Constitution))

Exemptions and deadlines in Louisiana

Flood risk in Ouachita Parish

FEMA does not publish these numbers by city: they are for all of Ouachita Parish.

Homes in the high-risk zone
11%
6,209
Of those, with NFIP insurance
47%
Parish Louisiana U.S.
Homes in the high-risk zone 11% 15% 3.5%
Of those, with NFIP insurance 47% 73% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Monroe

Typical rent in Monroe is $886 a month: 8% below the parish. In Monroe, 65% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Ouachita Parish, by unit size. To pay the 2-bedroom one ($1,017 a month) without spending more than 30% of your income, you would need to earn $19.56 an hour working full time.

HUD fair market rent for all of Ouachita Parish

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $782 $15.04 $31,280
1 bedroom $794 $15.27 $31,760
2 bedrooms $1,017 $19.56 $40,680
3 bedrooms $1,314 $25.27 $52,560
4 bedrooms $1,337 $25.71 $53,480

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Monroe

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Monroe has 5 ZIP codes with their own.

For 2 bedrooms it runs from $940 in 71202 to $1,130 in 71209.

4 of the 5 are above the fair market rent for Ouachita Parish ($1,017).

  • 71201 $1,030$1,330
  • 71202 $940$1,210
  • 71203 $1,130$1,460
  • 71209 $1,130$1,460
  • 71212 $1,030$1,330

3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Monroe when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Monroe

HUD lists 62 buildings with rents for lower incomes in Monroe. These are the largest.

  • Burg Jones Lane 709 Beverly St, Monroe 71202 305 homes, 301 low-income · Run by Housing Authority of Monroe · Average payment: $288 a month · Average wait: 33 months (318) 388-1500
  • Parkview Apts. 1101 Richwood Road 2, Monroe 71202 225 low-income homes · 1 bd: 8 · In service since 1993 · For older adults, people with disabilities, families (318) 322-1541
  • Johnson-Carver Terrace 11A Roy Dr, Monroe 71202 225 homes, 223 low-income · Run by Housing Authority of Monroe · Average payment: $332 a month · Average wait: 44 months (318) 388-1500
  • Robinson Place 809A Standifer Ave, Monroe 71202 213 homes, 211 low-income · Run by Housing Authority of Monroe · Average payment: $366 a month · Average wait: 48 months (318) 388-1500
  • Miller Square 4302 Crown Cir, Monroe 71203 195 homes, 193 low-income · Run by Housing Authority of Monroe · Average payment: $372 a month · Average wait: 76 months · Homes at several sites (318) 388-1500

See all 79 buildings in Ouachita Parish Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Monroe

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Ouachita Parish; none says it serves in Spanish.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Monroe

No down payment, repair or rent-help program on our list is for Monroe or Ouachita Parish. The ones below are statewide in Louisiana: they work in Monroe the same as in the rest of the state.

Which programs do I qualify for? All programs in Louisiana

  • HomeStart Assist

    Statewide in Louisiana

    Louisiana state corporation 30-year mortgage for first-time buyers with 4% of the loan in assistance, as a 0% second mortgage forgiven after 60 months. Offered by Louisiana Housing Corporation (LHC).

    Forgivable

    See the program Official page

  • HomeStart Advantage

    Statewide in Louisiana

    Louisiana state corporation 30-year mortgage with 4% of the loan in assistance, as a 0% second mortgage forgiven after 60 months; you do not need to be a first-time buyer, but you cannot own another home at closing. Offered by Louisiana Housing Corporation (LHC).

    Forgivable

    See the program Official page

Housing counselors near Monroe

The HUD-approved agencies closest to the center of Monroe, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Mount Pleasant Community Development Corp. Inc

    105 Bernice Drive, Monroe · 2 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (318) 323-3632

  • Rapides Station Community Ministries

    1429 3rd St, Alexandria · 86 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (318) 487-9254

  • Cenla Community Action Committee, Incorporated

    2011 Macarthur Dr, Alexandria · 89 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (318) 314-3480

Every agency in Ouachita Parish All counseling agencies in Louisiana

Help in Spanish near Monroe

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Monroe

HUD’s record names them for Monroe or Ouachita Parish. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of Monroe Public housing and Section 8 vouchers (318) 388-1500
  • Ouachita Parish Police Jury Section 8 vouchers (318) 460-3933

One other authority has an office in Ouachita Parish: see the list Source: HUD

Cities

Other cities in Ouachita Parish

These cities are also in Ouachita Parish. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Ouachita Parish Housing in Louisiana

Nearby cities

The cities closest to Monroe, with the typical home value.

Neighboring counties

If Ouachita Parish is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Monroe.

All guides
A man and two girls read a book together on the sofa.

Questions

Housing questions about Monroe

Short answers with the numbers for Monroe and all of Ouachita Parish. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Monroe?

The typical home value in Monroe is $198,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Ouachita Parish it is $194,400.

How much does it cost to rent in Monroe?

Typical rent in Monroe is $886 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Ouachita Parish is $1,017.

What is the FHA loan limit in Monroe?

Monroe uses the FHA limit for all of Ouachita Parish (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Monroe?

The typical homeowner in Monroe pays $1,001 a year, according to the U.S. Census Bureau. That is 0.5% of the home’s value; in Ouachita Parish, the rate is 0.54%.

Where can I find free help to buy or rent in Monroe?

There is 1 HUD-approved counseling agency with an office in Ouachita Parish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).