In Monroe, a typical home is worth $167,900 and typical rent is $909 a month. Compared with all of Monroe County, the typical home value is 27% lower, typical household income is 23% lower, and the share of households that own their home is 12 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $172,413 to $220,791.
Typical rent
$1,236a month
▲ 5.4% more than 12 months ago
Typical rent from Zillow, December 2023 to September 2026: from $1,108 to $1,236.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Monroe is in Monroe County. 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 Monroe County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in Monroe is worth $167,900,27% less than in Monroe County as a whole ($228,900).
2
The typical household income in Monroe is $59,813,23% less than in Monroe County as a whole ($77,335).
3
69% of households in Monroe own their home, against 82% in Monroe County.
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 houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Monroe
Monroe County
Michigan
United States
Kind of home: Monroe and its comparisons
Measure
Monroe
Monroe County
Michigan
United States
Detached house
72%
78%
72%
61%
Attached house
4%
2%
5%
6%
Building of 2 to 4
8%
3%
5%
8%
Apartments (5 or more)
16%
9%
13%
19%
Mobile home
Unreliable estimate
8%
5%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Monroe, 7 in 10 homes are single-family detached houses; in Monroe County, 8.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Monroe
Monroe County
Michigan
United States
Year built: Monroe and its comparisons
Measure
Monroe
Monroe County
Michigan
United States
Before 1960
61%
34%
36%
26%
1960–1979
23%
24%
26%
24%
1980–1999
11%
21%
22%
25%
2000–2009
4%
13%
10%
14%
2010 or later
Unreliable estimate
8%
6%
11%
The typical home in Monroe was built in 1953, 21 years before the typical one in Monroe County.
There are fewer big homes in Monroe than in Monroe County: 65% have 3 bedrooms or more, against 76%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K14%
$100K–$200K57%
$200K–$300K18%
$300K–$500K10%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Monroe and its comparisons
Measure
Monroe
Under $100K
14%
$100K–$200K
57%
$200K–$300K
18%
$300K–$500K
10%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
With an FHA limit of $541,287, at least 99% of owner-occupied homes in Monroe sit below it: they are worth less than $500,000.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $50011%
$500–$99955%
$1,000–$1,49927%
HUD fair market rent, 2 bedrooms: $1,304
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Monroe and its comparisons
Measure
Monroe
Under $500
11%
$500–$999
55%
$1,000–$1,499
27%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable
By rent, most homes in Monroe cost less than HUD's 2-bedroom fair market rent ($1,304): about 83%.
With a mortgage
$1,344 a month
Monroe County: $1,586 a month
Without a mortgage
$495 a month
Monroe County: $602 a month
Owners with a mortgage
66%
Monroe County: 61%
Owning costs less in Monroe: with a mortgage, the typical cost is $1,344 a month; in Monroe County, $1,586. Without one, $495.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Monroe+37%
Monroe County+42%
Michigan+50%
United States+53%
Typical rent
Monroe+23%
Monroe County+27%
Michigan+30%
United States+33%
Typical household income
Monroe+29%
Monroe County+24%
Michigan+28%
United States+29%
Change since 2015–2019: Monroe and its comparisons
Measure
Monroe
Monroe County
Michigan
United States
Typical home value
+37%
+42%
+50%
+53%
Typical rent
+23%
+27%
+30%
+33%
Typical household income
+29%
+24%
+28%
+29%
Homes in Monroe gained value more slowly than in Monroe County: 37% since 2015–2019, against 42%.
Rents in Monroe rose more slowly than in Monroe County: 23% since 2015–2019, against 27%.
The typical household income in Monroe rose 29% over that time; home values changed +37% and rent +23%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Monroe and its comparisons
Measure
Monroe
Monroe County
Michigan
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
5.1%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.8%
0.9%
More than one person per room
Unreliable estimate
1.3%
1.6%
3.4%
People per household
2.31
2.45
2.42
2.53
Drive alone
80%
82%
74%
69%
Carpool
8%
7%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
2%
2%
3%
Work from home
7%
9%
14%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
10 to 19 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Households in Monroe are smaller: 2.31 people on average; in Monroe County, 2.45.
To get to work, 80% of workers in Monroe drive alone; in Monroe County, 82%.
Do the math
What would you pay each month for a home in Monroe?
A typical home is tight for the typical income
We start with a typical home in Monroe, worth $167,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 29% of the typical household income in Monroe, which is $59,813 a year. For that payment to be 28% of income, a household would need to earn about $62,559 a year.
The calculator's FHA and conventional loan limits are those of all of Monroe County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Monroe. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $5,877 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,460
at 7.18% · 30 years
Loan amount
$164,858
Total interest
$237,193
Paid off in
November 2056
Includes $2,835 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,396 a month
Tight
$1,396 to $1,794 a month
Your payment · 29%
Hard
more than $1,794 a month
Compared with the typical household income in Monroe ($59,813 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,117
Property tax
$199
Home insurance
$70
FHA mortgage insurance (MIP)
$74
You need at least $5,877 for the down payment, plus closing costs.
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.
Total monthly payment $1,460; principal and interest $1,117.
The city and its county
Monroe and Monroe County
Monroe is in Monroe County, Michigan. 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
Map of Monroe County, Michigan, with Monroe marked. Around it, the neighboring counties.
Monroe
Monroe County
Other cities with a page
Monroe's own numbers
Typical home value
$167,900
Typical monthly rent
$909
Typical yearly household income
$59,813
Households that own their home
69%
Effective property tax rate
1.42%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Monroe County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,304
Price change over 5 years (FHFA)
+45%
Homes in a high flood-risk zone
6.4%
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 Monroe County.
A typical home in Monroe is worth $167,900: 27% below the county and 28% below Michigan. With the typical household income in Monroe ($59,813 a year), a typical home costs 2.8 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.
Monroe2.8 years
County3.0 years
Michigan3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Monroe County
According to FHFA’s house price index, home prices in Monroe County rose 81% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Monroe County.
Yearly change in FHFA’s price index in Monroe County, 2016 to 2025
2016: +4.0% +4.0% 2016
2017: +5.8% +5.8% 2017
2018: +5.7% +5.7% 2018
2019: +4.1% +4.1% 2019
2020: +3.3% +3.3% 2020
2021: +10.2% +10.2% 2021
2022: +11.1% +11.1% 2022
2023: +5.5% +5.5% 2023
2024: +5.7% +5.7% 2024
2025: +6.3% +6.3% 2025
Change in FHFA’s price index in Monroe County, Michigan and the United States
Period
County
Michigan
U.S.
Last year (2025)
+6.3%
+4.7%
+2.9%
5 years (2020–2025)
+45%
+52%
+47%
10 years (2015–2025)
+81%
+97%
+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 Monroe County, Michigan and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Monroe$167,900
County$228,900
Michigan$231,600
United States$332,700
Typical monthly rent
Monroe$909
County$1,059
Michigan$1,129
United States$1,413
Typical yearly household income
Monroe$59,813
County$77,335
Michigan$72,875
United States$80,734
See the full table
Monroe next to Monroe County and Michigan
Measure
Monroe
Monroe County
Michigan
U.S.
Typical home value
$167,900 ▼27% below the county
$228,900
$231,600
$332,700
Typical monthly rent
$909 ▼14% below the county
$1,059
$1,129
$1,413
Typical yearly household income
$59,813 ▼23% below the county
$77,335
$72,875
$80,734
Households that own their home
69% ▼12 points below the county
82%
73%
65%
Typical yearly property tax
$2,380 ▼10% below the county
$2,648
$2,904
$3,119
Effective property tax rate
1.42% ▲0.26 points above the county
1.16%
1.25%
0.94%
Renters with high rent for their income
61% ▲11 points above the county
51%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Monroe County. “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 $167,900 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$1,460a month
Least cash to close
Down payment
$5,877
Cash to close
$10,914
Rate
7.18%
Mortgage insurance
FHA MIP · $74
Conventional, 5% down$1,429a month
Down payment
$8,395
Cash to close
$13,432
Rate
7.18%
Mortgage insurance
PMI · $80
Conventional, 20% down, no PMI$1,179a month
Down payment
$33,580
Cash to close
$38,617
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,334a month
Down payment
$25,185
Cash to close
$30,222
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Monroe
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,460
$5,877
$164,859
7.18%
FHA MIP · $74
$10,914
580
Conventional, 5% down
$1,429
$8,395
$159,505
7.18%
PMI · $80
$13,432
620*
Conventional, 20% down, no PMI
$1,179
$33,580
$134,320
7.18%
None
$38,617
620*
ITIN, 15% down (example)
$1,334
$25,185
$142,715
8.18%
None
$30,222
Set by the lender
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.
Typical rent in Monroe is $909 a month: 14% below the county. In Monroe, 61% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Monroe County, by unit size. To pay the 2-bedroom one ($1,304 a month) without spending more than 30% of your income, you would need to earn $25.08 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Monroe County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$908
$17.46
$36,320
1 bedroom
$997
$19.17
$39,880
2 bedrooms
$1,304
$25.08
$52,160
3 bedrooms
$1,595
$30.67
$63,800
4 bedrooms
$2,153
$41.40
$86,120
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 2 ZIP codes with their own.
For 2 bedrooms it runs from $1,200 in 48162 to $1,220 in 48161.
None is above the fair market rent for Monroe County ($1,304).
Fair market rent by ZIP code and size in Monroe, fiscal year 2027.
48161
$850
$930
$1,220
$1,490
$2,010
48162
$830
$910
$1,200
$1,450
$1,940
ZIP code2 bd3 bd
48161 $1,220$1,490
48162 $1,200$1,450
2 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 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
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 Monroe County; none says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Monroe or Monroe County. The ones below are statewide in Michigan: they work in Monroe the same as in the rest of the state.
Michigan state agency loan of up to $10,000, with no interest and no monthly payments, for the down payment, closing costs and prepaid expenses; it goes with MSHDA's MI Home Loan mortgage and is repaid in certain cases, such as when you pay off the first mortgage, sell or refinance the home, or no longer live in it.Offered by Michigan State Housing Development Authority (MSHDA).
Michigan state authority certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, for the life of the loan; you apply with an approved lender before you buy.Offered by Michigan State Housing Development Authority (MSHDA).
No legal help resource on our list is for Monroe or Monroe County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Monroe and all of Monroe County. 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 $167,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Monroe County it is $228,900.
How much does it cost to rent in Monroe?
Typical rent in Monroe is $909 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Monroe County is $1,304.
What is the FHA loan limit in Monroe?
Monroe uses the FHA limit for all of Monroe County (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 $2,380 a year, according to the U.S. Census Bureau. That is 1.42% of the home’s value; in Monroe County, the rate is 1.16%.
Where can I find free help to buy or rent in Monroe?
There is 1 HUD-approved counseling agency with an office in Monroe County. They can help you get ready to buy, with your credit, or with rent.
