Monroe, North Carolina Real Estate & Housing Market

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Monroe Housing Information

Index	Monroe	North Carolina	National
Median home price	$146,700	$157,100	$184,700
Median rent asked	$838	$816	$949
Avg. people per household	3.0	2.5	2.6
Owner occupied households	55.9%	64.8%	63.6%
Renter occupied households	44.1%	35.2%	36.4%

The above shows an overview of the real estate market in Monroe, NC. Note how the median home price for Monroe, NC runs $146,700, which is 7% lower than the average property price for North Carolina. So you’re going to get real estate in Monroe, NC that is on-average more affordable than what you’ll find in the rest of North Carolina. As for rent, the median for Monroe, NC runs $838, which is comparatively 3% higher than the average rent for North Carolina. For Monroe, NC, about 55.9% of the population consist of home owners with about 3.0 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Monroe, NC offers a wide variety of real estate. To find your perfect home in Monroe, NC, filter your choice by price, location, and number of beds and baths using the search area above.

Monroe Home Affordability

When deciding where to purchase Monroe, NC real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Monroe, NC the median home price is $146,700 and $44,267 is the median household income. As a result, the home price to income ratio in Monroe, NC is 3.3x, which is 2% higher than the North Carolina average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Monroe, NC the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Monroe, NC.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Marshville, NC	2,598	$104,100	44%
Wingate, NC	3,798	$135,600	27%
Hemby Bridge, NC	1,264	$141,700	23%
JAARS, NC	508	$170,800	8%
Indian Trail, NC	36,357	$177,200	4%
Monroe, NC	34,212	$146,700	21%

Cities with similar population

City, State	Population	Home Price	National Avg.
Vestavia Hills, AL	34,243	$346,600	88%
Wentzville, MO	34,176	$196,700	6%
Evans, GA	34,270	$233,100	26%
Cottonwood Heights, UT	34,274	$333,000	80%
Oildale, CA	34,277	$128,000	31%
Monroe, NC	34,212	$146,700	21%

Source: The Monroe, NC housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).