Housing in Monroe

A typical Monroe home is worth roughly $327,000

Home prices around Monroe have risen about 58% over the past 5 years.

Typical home value

$327K

▼ 0.1% in a year · IN $260K

Estimate

2-bedroom rent

$1,160

a month, utilities in · HUD

Median tax bill

$1,826

IN $1,614

What kind of housing town is Monroe?

Read from the numbers below. The page puts what stands out first.

A town of owners95% of households own their home.Pricier than IN26% above the Indiana typical home.

★ What stands out · The homes

95% of Monroe households own their home

Half of Monroe’s homes were built before 1975.

Owners and renters

Own 95%Rent 5%

Indiana: 71% own.

1975

typical home built · IN 1976

$1,826

median property tax bill · IN $1,614

0.71%

of a home’s value, a year in tax · IN 0.74%

U.S. Census Bureau, American Community Survey 2020-2024.

Affordability

A typical home costs 2.6 years of income

Less than across Indiana (3.6 years). Try your own numbers below.

You could afford about

$512,000

Typical Monroe home $327K

That covers a typical Monroe home, with $185K to spare.

The typical home, each month

$1,910

Loan $1,620Tax $190Insurance $100

A two-bedroom rents for about $1,160 a month here, $750 less than owning.

Where your budget reaches nearby

Ervin$229K Clay$227K Harrison$225K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Monroe’s typical property tax (0.71% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Price trend

Home prices up 58% in 5 years

The federal house price index for the ZIP codes around Monroe rose 58% over the past 5 years, faster than across Indiana (53%). Prices were about flat last year. Carrying the Census median home value forward with that index puts the typical Monroe home at roughly $327,000 today.

Monroe areaIndiana

−0.1%

past year

+58%

past 5 years

+94%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $327K.

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Monroe, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Renting

A two-bedroom rents for about $1,160

Fair Market Rent a month, utilities included

Studio$910

1 bedroom$920

2 bedrooms$1,160

3 bedrooms$1,430

4 bedrooms$1,620

of households rent · IN 29%

renter households

of renters spend 30%+ of income on rent · IN 48%

11%

of the median income, for a two-bedroom

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Tipton County, IN HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Monroe vs. its neighbors

Monroe is the priciest of 4 neighboring towns. Tap one to see its housing page.

Monroe$327K Ervin$229K Clay$227K Harrison$225K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Monroe	$327K*	−0.1%†	$1,160	$127,788
Ervin	$229K*	+5.4%†	$1,030	$120,135
Clay	$227K*	+5.6%†	$1,040	$104,292
Harrison	$225K*	+3.1%†	$1,140	$85,478

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Monroe buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Monroe still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.