Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$270,413+6.1% YoY · prices are rising fast
Market right nowSeller's marketMore homes for sale than last year, 16% have cut their price
Income needed to buy, per year$58,620About 0.8× the local median income ($76,490): affordable for a typical household
Days on market39 daysFaster than a year ago: sellers have the edge
Next 12 months+3.8%Zillow expects prices to rise slightly
The typical home in Monroe, MI is worth $270,413, up 6.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $229,005, so the area is 18.1% overvalued. It is a seller's market: homes take about 39 days to sell, listings are up 10% from a year ago, 16% of listings have had a price cut. Zillow expects prices to rise about 3.8% over the next year. A household needs about $58,620 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,490. Typical rent is $1,277 a month, or $1,623 for a house. In the latest IRS figures, 183 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$270,413
Change in 1 year
+6.1%
Overvalued %
+18.1%
Show 7 more
Fair home value
$229,005
Change in 5 years
+27.5%
Zillow forecast, next 12 months
+3.8%
Home value to income
3.5×
Monthly mortgage payment (20% down)
$1,466
Income needed to afford it
$58,620
Property tax rate
1.16%
Rent and investing
Typical rent
$1,277
Typical rent for houses
$1,623
Price-to-rent ratio
17.7×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,304
Gross rental yield
5.67%
Cap rate (estimate)
3.68%
Market activity
Listings vs a year ago
+9.8%
Days on market
39
Listings with a price cut
15.9%
Show 3 more
Homes for sale
292
Pending sales per 100 listings
48
Asking price per sq ft
$188
People and jobs
Median household income
$76,490
Population change (1 year)
+0.1%
Unemployment rate
5.1%
Show 4 more
Population
156,004
Income adjusted for cost of living
$81,807
Net moves in (IRS)
+183
Cost of living (US = 100)
93.5
Schools, risk and environment
School rating (1 to 10)
6.3
FEMA hazard risk score (0 to 100)
82.5
Unhealthy air days a year
0
Show 4 more
Flood risk score
87.4
Wildfire risk score
33.2
Walkability (1 to 20)
5.7
Road, rail and air noise
53 dB
Questions people ask
Is Monroe, MI overvalued?
Home prices in Monroe, MI are well above what local incomes have historically supported: fair value is about $229,005, so the area is 18.1% overvalued.
Is Monroe, MI a buyer's or seller's market?
Monroe, MI is a seller's market: homes take about 39 days to sell, listings are up 10% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Monroe, MI?
Home values in Monroe, MI are up 6.1% over the last year. Zillow's forecast for the next 12 months is +3.8%.
How much do you need to earn to buy a home in Monroe, MI?
A household needs about $58,620 a year to afford the typical home in Monroe, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,490.