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City · 36,759 residents · Union County, North Carolina

Monroe , North Carolina

In Monroe, a typical home is worth $309,100 and typical rent is $1,246 a month. Compared with all of Union County, typical household income is 30% lower, the typical home value is 26% lower, and the share of households that own their home is 20 points lower.

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  • Typical home value

    $309,100

    26% below the county

    7% above North Carolina

    • Monroe
    • Union
    • North Carolina

  • Typical rent

    $1,246a month

    17% below the county

    About the same as North Carolina

    • Monroe
    • Union
    • North Carolina

  • Typical household income

    $72,540a year

    30% below the county

    About the same as North Carolina

    • Monroe
    • Union
    • North Carolina

  • Households that own their home

    62%

    20 points below the county

    5 points below North Carolina

    • Monroe
    • Union
    • North Carolina

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

Market now, with Zillow data

Zillow data
Typical home value
$352,279
0.6% less than 12 months ago
Typical rent
$1,896 a month
2.4% more than 12 months ago

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

Monroe is in Union 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 Union County. 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. 62% of households in Monroe own their home, against 82% in Union County.

  2. The typical household income in Monroe is $72,540, 30% less than in Union County as a whole ($102,900).

  3. The typical home in Monroe is worth $309,100, 26% less than in Union County as a whole ($417,300).

  4. The typical rent in Monroe is $1,246 a month, 17% less than in Union County as a whole ($1,496).

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

In Monroe, 7 in 10 homes are single-family detached houses; in Union County, 9.

Year built

The typical home in Monroe was built in 1989, 11 years before the typical one in Union County.

There are fewer big homes in Monroe than in Union County: 69% have 3 bedrooms or more, against 86%.

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

By price, most homes in Monroe sit under the FHA limit for Union County ($541,287): about 90%.

Monthly rent with utilities

With a mortgage

$1,615 a month

Union County: $1,940 a month

Without a mortgage

$578 a month

Union County: $553 a month

Owners with a mortgage

70%

Union County: 70%

The typical cost for an owner with a mortgage in Monroe is $1,615 a month, less than in Union County ($1,940); without one, $578.

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 89%; in Union County, it rose 73%.

Rents in Monroe rose more slowly than in Union County: 27% since 2015–2019, against 45%.

The typical household income in Monroe rose 40% over that time; home values changed +89% and rent +27%.

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

MeasureMonroeUnion CountyNorth CarolinaUnited States
Rental vacancy Unreliable estimate2.7%7.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.3%0.9%
More than one person per room 6.2%2.6%2.2%3.4%
People per household 2.862.952.442.53
Drive alone 75%70%72%69%
Carpool 15%9%9%9%
Public transit Unreliable estimate0%1%3%
Walk or bike Unreliable estimate1%2%3%
Work from home 8%20%16%15%
Other means Unreliable estimate1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

In Monroe, 6.2% of households live with more than one person per room, against 2.6% in Union County.

By size, households in Monroe look like those in Union County: 2.86 people on average.

More people carpool to work in Monroe than in Union County: 15% against 9%.

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 $309,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income in Monroe, which is $72,540 a year. For that payment to be 28% of income, a household would need to earn about $106,670 a year.

The calculator's FHA and conventional loan limits are those of all of Union County.

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 $10,819 (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

$2,489

at 7.18% · 30 years

Loan amount
$303,501
Total interest
$436,667
Paid off in
November 2056

Includes $5,220 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,693 a month

  • Tight

    $1,693 to $2,176 a month

  • Hard

    more than $2,176 a month

    Your payment · 41%

Compared with the typical household income in Monroe ($72,540 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,489
Principal & interest$2,056
Property tax$167
Home insurance$129
FHA mortgage insurance (MIP)$137

You need at least $10,819 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 Union County

Monroe is in Union County, North Carolina. 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
$309,100
Typical monthly rent
$1,246
Typical yearly household income
$72,540
Households that own their home
62%
Effective property tax rate
0.65%

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

Numbers for all of Union County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,785
Price change over 5 years (FHFA)
+69%
Homes in a high flood-risk zone
0.2%

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 Union County.

Everything about Union County

Buying

Buying a home in Monroe

A typical home in Monroe is worth $309,100: 26% below the county and 7% above North Carolina. With the typical household income in Monroe ($72,540 a year), a typical home costs 4.3 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 4.3 years
  • Union 4.1 years
  • North Carolina 4.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Union County

According to FHFA’s house price index, home prices in Union County rose 128% in the 10 years through 2025.

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

Period County North Carolina U.S.
Last year (2025) +3.5% +2.5% +2.9%
5 years (2020–2025) +69% +60% +47%
10 years (2015–2025) +128% +107% +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 Union County, North Carolina and the U.S.

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

Typical home value
  • Monroe $309,100
  • Union $417,300
  • North Carolina $288,900
  • United States $332,700
Typical monthly rent
  • Monroe $1,246
  • Union $1,496
  • North Carolina $1,228
  • United States $1,413
Typical yearly household income
  • Monroe $72,540
  • Union $102,900
  • North Carolina $72,388
  • United States $80,734
See the full table
Monroe next to Union County and North Carolina
Measure Monroe Union County North Carolina U.S.
Typical home value $309,100 $417,300 $288,900 $332,700
Typical monthly rent $1,246 $1,496 $1,228 $1,413
Typical yearly household income $72,540 $102,900 $72,388 $80,734
Households that own their home 62% 82% 67% 65%
Typical yearly property tax $1,994 $2,396 $1,896 $3,119
Effective property tax rate 0.65% 0.57% 0.66% 0.94%
Renters with high rent for their income 49% 43% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Union 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 $309,100 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 $2,489a month

    Least cash to close
    Down payment
    $10,819
    Cash to close
    $20,092
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $137

  • Conventional, 5% down $2,432a month

    Down payment
    $15,455
    Cash to close
    $24,728
    Rate
    7.18%
    Mortgage insurance
    PMI · $147

  • Conventional, 20% down, no PMI $1,971a month

    Down payment
    $61,820
    Cash to close
    $71,093
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,257a month

    Down payment
    $46,365
    Cash to close
    $55,638
    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 Union County.

Property tax

Effective rate in Monroe

0.65%of the home’s value each year

$1,994 a year for the typical owner in Monroe.

  • Monroe 0.65%
  • Union 0.57%
  • North Carolina 0.66%

What North Carolina publishes Elderly or Disabled Homestead Exclusion (North Carolina General Assembly (statute))

Exemptions and deadlines in North Carolina

Flood risk in Union County

FEMA does not publish these numbers by city: they are for all of Union County.

Homes in the high-risk zone
0.2%
196
Of those, with NFIP insurance
59%
County North Carolina U.S.
Homes in the high-risk zone 0.2% 2.8% 3.5%
Of those, with NFIP insurance 59% 53% 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 $1,246 a month: 17% below the county. In Monroe, 49% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Union County, by unit size. To pay the 2-bedroom one ($1,785 a month) without spending more than 30% of your income, you would need to earn $34.33 an hour working full time.

HUD fair market rent for all of Union County

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 $1,574 $30.27 $62,960
1 bedroom $1,640 $31.54 $65,600
2 bedrooms $1,785 $34.33 $71,400
3 bedrooms $2,179 $41.90 $87,160
4 bedrooms $2,773 $53.33 $110,920

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 $1,360 in 28112 to $1,620 in 28110.

None is above the fair market rent for Union County ($1,785).

  • 28110 $1,620$1,980
  • 28112 $1,360$1,660

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 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 5 buildings with rents for lower incomes in Monroe. These are the largest.

  • Icemorlee Street Apartments 1615 Icemorlee St, Monroe 28110 100 homes, 90 low-income · For families (704) 289-1042
  • Cotton Street Commons 819 Cotton St, Monroe 28112 72 low-income homes · For older adults (704) 392-0369
  • Jefferson Village Apartments 800 W Jefferson St, Monroe 28112 20 low-income homes · For families (704) 289-6298
  • Arc/HDS Union County Group Home #3 1708 Lake Monroe Dr, Monroe 28112 7 homes, 6 low-income · For people with disabilities (704) 289-6655
  • ARC Union Apartments (The) W. Phifer Street, Monroe 28110 5 low-income homes · For people with disabilities

See all 11 buildings in Union County 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 Union County; 1 says it serves in Spanish.

A grandmother smiles, seated at home.

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 Union County. The ones below are statewide in North Carolina: they work in Monroe the same as in the rest of the state.

Which programs do I qualify for? All programs in North Carolina

  • NC Home Advantage Mortgage

    Statewide in North Carolina

    NCHFA fixed-rate mortgage with down payment assistance, for first-time buyers and for people who have owned a home before, in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Forgivable

    See the program Official page

  • NC 1st Home Advantage Down Payment

    Statewide in North Carolina

    A fixed amount of NCHFA down payment assistance for first-time buyers and veterans in North Carolina. Offered by North Carolina Housing Finance Agency (NCHFA).

    Type not stated

    See the program Official page

  • Community Partners Loan Pool (CPLP)

    Statewide in North Carolina

    NCHFA interest-free loan with deferred payments of up to 25% of the price (maximum $50,000) for the down payment of low- and moderate-income buyers in North Carolina; you apply through a member organization. Offered by North Carolina Housing Finance Agency (NCHFA).

    Deferred

    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.

  • Monroe-Union County Community Development Corporation

    349 E Franklin St, Monroe · 2 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (704) 283-8804

  • NSC (naca Counseling Subsidiary) - National Counseling Center

    5855 Executive Center Dr Suite 400, Charlotte · 17 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (606) 230-6222

  • NSC (naca Counseling Subsidiary) - Charlotte, NC

    5500 Executive Center Dr Ste 105, Charlotte · 17 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (704) 536-7676

Every agency in Union County All counseling agencies in North Carolina

Help in Spanish near Monroe

3 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 Union County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Monroe Housing Authority Public housing and Section 8 vouchers (704) 289-2514

All housing agencies in North Carolina Source: HUD

Cities

Other cities in Union County

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

Everything about Union County Housing in North Carolina

Nearby cities

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

Neighboring counties

If Union County 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 Union 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 $309,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Union County it is $417,300.

How much does it cost to rent in Monroe?

Typical rent in Monroe is $1,246 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Union County is $1,785.

What is the FHA loan limit in Monroe?

Monroe uses the FHA limit for all of Union 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 $1,994 a year, according to the U.S. Census Bureau. That is 0.65% of the home’s value; in Union County, the rate is 0.57%.

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

There is 1 HUD-approved counseling agency with an office in Union County. 1 says it serves in Spanish. 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).