Monroe, MI—48161
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Monroe, MI
Home Price Trends — Monroe, MI
As of Nov '25, the median home price in Monroe, MI is $202,000, with a year-over-year change of 2.8%. This indicates that home prices in Monroe, MI are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $202,000 | 2.8% |
| Single Family | $200,000 | 4.7% |
| Condos | $230,000 | 10.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $152,000 | 7.8% |
3 Bed | $204,000 | 5.7% |
4 Bed | $242,000 | 5.7% |
| 5 Bed | $258,914 | 4.2% |
% of Housing Stock
Rental Trends — Monroe, MI
As of July '25, Rentcast reports the average rent in Monroe, MI is $1,010, with a year-over-year rent change of 6.1%. Per bedroom, the median rent as of July '25 in Monroe, MI is 1-bedrooms: $839, 2-bedrooms: $1,020, 3-bedrooms: $1,530. The most common rental property sizes in Monroe, MI are 2-bedroom and 1-bedroom, accounting for 41.9% and 27.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $875 | $1,010 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $820 | $839 |
| 2 Bed Rent | $950 | $1,020 |
| 3 Bed Rent | $1,600 | $1,530 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Monroe, MI
As of Nov '25, Realtor.com reports that the median days on market for a home in Monroe, MI is 53. This is a decrease of -12.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $298,000 | 20.0% |
Listing Count | 91 | 21.0% |
| Listings as % of Homes | 0.5% | 21.0% |
Days on Market | 53 | -12.0% |
Demographics — Monroe, MI
As of the latest ACS Survey released in 2023, Monroe, MI has a population of 26,600, which has increased by 1.1% over the past 5 years. Monroe, MI is a moderately popular place for families, as children make up 18.6% of the population. The area has a poorly educated workforce, with 19.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,600 | 1.1% |
% Under 18 | 18.6% | -18.4% |
% Seniors | 19.4% | 14.1% |
% WFH | 6.8% | 151.9% |
% w/ College Degree | 19.4% | 15.5% |
As of the latest ACS Survey released in 2023, Monroe, MI is a predominantly white area, with 85.4% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Monroe, MI is black, making up 4.6% of the population. Foreign-born residents account for 2.9% of the population in Monroe, MI, and this percentage has increased by 61.1% 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 | 85.4% | -2.8% |
% Black | 4.6% | 12.2% |
% Hispanic | 4.6% | 31.4% |
% Asian | 0.7% | 0.0% |
% Foreign Born | 2.9% | 61.1% |
Mortgage and Risk — Monroe, MI
According to HUD data as of 2023, there were 448 mortgage originations in Monroe, MI, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Monroe, MI. Investor activity is low, as 2.0% 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 | 448 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Rentals and Section 8 — Monroe, MI
Monroe, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 732 |
Total Units Section 8 | 732 |
% Rentals under Section 8 | 24.1% |
% Occupied Section 8 | 93.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $820 | $900 |
| 2 Bedroom | $230 | $950 | $1,180 |
| 3 Bedroom | -$130 | $1,600 | $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 | 2.7 |
| Median Home Price | $202,000 |
| Median Household Income | $65,500 |