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  4. /Monroe, MI - 48162

Monroe, MI—48162

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$243,000
5.8% YoY Growth
Household Income
$68,800
24.8% YoY Growth
Days on Market
36
0.0% Longer YoY
Home Price Forecast
1.8%
Median Rent
$950
2.9% YoY Growth
1-Bed Rent
$895
4.5% YoY Growth
2-Bed Rent
$999
22.6% YoY Growth
3-Bed Rent
$2,400
42.9% YoY Growth

Other Zip Codes in Monroe, MI

48161
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Monroe, MI

As of May '26, the median home price in Monroe, MI is $243,000, with a year-over-year change of 5.8%. This indicates that home prices in Monroe, MI are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$243,0005.8%
Single Family $242,0005.7%
Condos $276,0007.8%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $97,000
    9.0%
    2 Bed
    		$174,0004.8%
    3 Bed
    		$240,0005.3%
    4 Bed
    		$307,0004.8%
    5 Bed $327,4405.0%
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    % of Housing Stock

    Studio
    0.6%
    1 Bedroom
    11.1%
    2 Bedrooms
    19.2%
    3 Bedrooms
    51.5%
    4 Bedrooms
    14.8%
    5+ Bedrooms
    2.8%

    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.

    TypeMedian RentAverage 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/AN/A
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    % of Rental Stock

    Studio
    0.3%
    1 Bedroom
    37.6%
    2 Bedrooms
    38.1%
    3 Bedrooms
    21.6%
    4 Bedrooms
    1.8%
    5+ Bedrooms
    0.6%

    Property Listings — Monroe, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Monroe, MI is 36. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$280,000-1.0%
    Listing Count
    		58-18.0%
    Listings as % of Homes0.4%-18.0%
    Days on Market
    		360.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % Change
    Population
    		28,3001.0%
    % Under 18
    		19.6%-8.0%
    % Seniors
    		20.2%11.6%
    % WFH
    		6.5%170.8%
    % w/ College Degree
    		23.6%24.9%
    Loading chart...

    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$5$895$900
    2 Bedroom$181$999$1,180
    3 Bedroom-$930$2,400$1,470
    4 BedroomN/AN/A$1,880

    Affordability — Monroe, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3
    Median Home Price$243,000
    Median Household Income$68,800

    Monroe, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Monroe, MI

    48161

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    Frequently Asked Questions