Monroe, MI—48162
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Monroe, MI
Home Price Trends — Monroe, MI
As of Oct '25, the median home price in Monroe, MI is $228,000, with a year-over-year change of 4.4%. This indicates that home prices in Monroe, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $228,000 | 4.4% |
| Single Family | $227,000 | 4.6% |
| Condos | $259,000 | 6.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $96,000 | 6.7% |
2 Bed | $165,000 | 6.5% |
3 Bed | $227,000 | 4.6% |
4 Bed | $289,000 | 4.7% |
| 5 Bed | $305,000 | 3.7% |
% of Housing Stock
Rental Trends — Monroe, MI
As of July '25, Rentcast reports the average rent in Monroe, MI is $1,060, with a year-over-year rent change of 2.9%. Per bedroom, the median rent as of July '25 in Monroe, MI is studios: $385, 1-bedrooms: $913, 2-bedrooms: $1,150, 3-bedrooms: $2,400. The most common rental property sizes in Monroe, MI are 2-bedroom and 1-bedroom, accounting for 38.1% and 37.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,060 |
| Studio Rent | $385 | $385 |
| 1 Bed Rent | $895 | $913 |
| 2 Bed Rent | $999 | $1,150 |
| 3 Bed Rent | $2,400 | $2,400 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Monroe, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Monroe, MI is 44. This is a increase of 23.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $254,000 | 5.0% |
Listing Count | 92 | 1.0% |
| Listings as % of Homes | 0.4% | 1.0% |
Days on Market | 44 | 23.0% |
Demographics — Monroe, MI
As of the latest ACS Survey released in 2023, Monroe, MI has a population of 28,300, which has remained stable by 1.0% over the past 5 years. Monroe, MI is a moderately popular place for families, as children make up 19.6% of the population. The area has a poorly educated workforce, with 23.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,300 | 1.0% |
% Under 18 | 19.6% | -8.0% |
% Seniors | 20.2% | 11.6% |
% WFH | 6.5% | 170.8% |
% w/ College Degree | 23.6% | 24.9% |
As of the latest ACS Survey released in 2023, Monroe, MI is a predominantly white area, with 89.8% of the population identifying as white. The white population has shrunk by 0.1% in the last 5 years. The second most common race or ethnicity in Monroe, MI is black, making up 3.2% of the population. Foreign-born residents account for 1.9% of the population in Monroe, MI, and this percentage has increased by 5.6% 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 | 89.8% | -0.1% |
% Black | 3.2% | -17.9% |
% Hispanic | 2.5% | -40.5% |
% Asian | 0.6% | 100.0% |
% Foreign Born | 1.9% | 5.6% |
Mortgage and Risk — Monroe, MI
According to HUD data as of 2023, there were 561 mortgage originations in Monroe, MI, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Monroe, MI. Investor activity is low, as 1.0% 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 | 561 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Monroe, MI
Monroe, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 626 |
Total Units Section 8 | 364 |
% Rentals under Section 8 | 13.0% |
% Occupied Section 8 | 90.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $5 | $895 | $900 |
| 2 Bedroom | $181 | $999 | $1,180 |
| 3 Bedroom | -$930 | $2,400 | $1,470 |
| 4 Bedroom | N/A | N/A | $1,880 |
Affordability — Monroe, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $228,000 |
| Median Household Income | $68,800 |