Monroe, WA—98272
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Monroe, WA
As of Oct '25, the median home price in Monroe, WA is $712,000, with a year-over-year change of 0.7%. This indicates that home prices in Monroe, WA are flat. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $712,000 | 0.7% |
| Single Family | $727,000 | 0.4% |
| Condos | $387,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $404,000 | -1.0% |
2 Bed | $499,000 | 1.2% |
3 Bed | $658,000 | 0.2% |
4 Bed | $874,000 | 1.3% |
| 5 Bed | $907,000 | 1.1% |
% of Housing Stock
Rental Trends — Monroe, WA
As of July '25, Rentcast reports the average rent in Monroe, WA is $2,720, with a year-over-year rent change of -6.5%. Per bedroom, the median rent as of July '25 in Monroe, WA is 1-bedrooms: $1,430, 2-bedrooms: $2,150, 3-bedrooms: $2,740, 4-bedrooms: $3,650. The most common rental property sizes in Monroe, WA are 3-bedroom and 2-bedroom, accounting for 35.8% and 35.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,780 | $2,720 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,430 |
| 2 Bed Rent | $1,900 | $2,150 |
| 3 Bed Rent | $2,800 | $2,740 |
| 4 Bed Rent | $3,700 | $3,650 |
% of Rental Stock
Property Listings — Monroe, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Monroe, WA is 51. This is a increase of 22.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $900,000 | 2.0% |
Listing Count | 112 | 29.0% |
| Listings as % of Homes | 0.5% | 29.0% |
Days on Market | 51 | 22.0% |
Demographics — Monroe, WA
As of the latest ACS Survey released in 2023, Monroe, WA has a population of 32,100, which has increased by 2.0% over the past 5 years. Monroe, WA is a moderately popular place for families, as children make up 24.1% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,100 | 2.0% |
% Under 18 | 24.1% | 2.6% |
% Seniors | 11.2% | 15.5% |
% WFH | 15.9% | 137.3% |
% w/ College Degree | 28.5% | 18.3% |
As of the latest ACS Survey released in 2023, Monroe, WA is a predominantly white area, with 71.6% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Monroe, WA is hispanic, making up 13.7% of the population. Foreign-born residents account for 12.4% of the population in Monroe, WA, and this percentage has increased by 24.0% 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 | 71.6% | -5.9% |
% Black | 2.4% | 4.3% |
% Hispanic | 13.7% | 0.7% |
% Asian | 5.9% | 247.1% |
% Foreign Born | 12.4% | 24.0% |
Mortgage and Risk — Monroe, WA
According to HUD data as of 2023, there were 658 mortgage originations in Monroe, WA, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Monroe, WA. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 658 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Monroe, WA
As of 2024, the percent of homes in Monroe, WA under the Section 8 program is 8.4%. 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, WA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 108 |
Total Units Section 8 | 108 |
% Rentals under Section 8 | 8.4% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $780 | $1,400 | $2,180 |
| 2 Bedroom | $640 | $1,900 | $2,540 |
| 3 Bedroom | $550 | $2,800 | $3,350 |
| 4 Bedroom | $200 | $3,700 | $3,900 |
Affordability — Monroe, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $712,000 |
| Median Household Income | $116,000 |