Monroe, CT—06468
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Monroe, CT
As of Oct '25, the median home price in Monroe, CT is $587,000, with a year-over-year change of 2.7%. This indicates that home prices in Monroe, CT are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $587,000 | 2.7% |
| Single Family | $614,000 | 2.5% |
| Condos | $392,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $318,000 | 2.3% |
2 Bed | $429,000 | 4.4% |
3 Bed | $554,000 | 3.0% |
4 Bed | $717,000 | 2.4% |
| 5 Bed | $782,000 | 3.3% |
% of Housing Stock
Rental Trends — Monroe, CT
As of July '25, Rentcast reports the average rent in Monroe, CT is $3,470, with a year-over-year rent change of 17.6%. Per bedroom, the median rent as of July '25 in Monroe, CT is 1-bedrooms: $2,000, 2-bedrooms: $3,350, 3-bedrooms: $3,560, 4-bedrooms: $4,150. The most common rental property sizes in Monroe, CT are 1-bedroom and 3-bedroom, accounting for 50.4% and 28.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,400 | $3,470 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,000 | $2,000 |
| 2 Bed Rent | $3,400 | $3,350 |
| 3 Bed Rent | $3,800 | $3,560 |
| 4 Bed Rent | $3,800 | $4,150 |
% of Rental Stock
Property Listings — Monroe, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Monroe, CT is 32. This is a decrease of -11.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $700,000 | 3.0% |
Listing Count | 64 | 3.0% |
| Listings as % of Homes | 0.9% | 3.0% |
Days on Market | 32 | -11.0% |
Demographics — Monroe, CT
As of the latest ACS Survey released in 2023, Monroe, CT has a population of 18,800, which has decreased by -4.0% over the past 5 years. Monroe, CT is a popular place for families, as children make up 25.2% of the population. The area has a highly educated workforce, with 57.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,800 | -4.0% |
% Under 18 | 25.2% | 0.0% |
% Seniors | 15.7% | 1.9% |
% WFH | 13.7% | 158.5% |
% w/ College Degree | 57.8% | 19.4% |
As of the latest ACS Survey released in 2023, Monroe, CT is a predominantly white area, with 83.4% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Monroe, CT is hispanic, making up 6.8% of the population. Foreign-born residents account for 11.5% of the population in Monroe, CT, and this percentage has increased by 10.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.4% | -3.0% |
% Black | 0.8% | -38.5% |
% Hispanic | 6.8% | 38.8% |
% Asian | 6.6% | 22.2% |
% Foreign Born | 11.5% | 10.6% |
Mortgage and Risk — Monroe, CT
According to HUD data as of 2023, there were 377 mortgage originations in Monroe, CT, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Monroe, CT. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 377 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Monroe, CT
As of 2024, the percent of homes in Monroe, CT under the Section 8 program is 0.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Monroe, CT, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$350 | $2,000 | $1,650 |
| 2 Bedroom | -$1,400 | $3,400 | $2,000 |
| 3 Bedroom | -$1,240 | $3,800 | $2,560 |
| 4 Bedroom | -$1,100 | $3,800 | $2,700 |
Affordability — Monroe, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $587,000 |
| Median Household Income | $157,000 |