Monrovia, IN housing market
The typical Monrovia home is worth about $304,000, about the same as a year ago, 17% above the Indiana typical home. Homes typically sell in 32 days, close to asking.
Home values, sales, trends and how Monrovia compares with the towns next door — updated as new data is published.
Monrovia at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Monrovia | Indiana |
|---|---|---|
| 2017 | $161,000 | $135,000 |
| 2018 | $171,000 | $144,000 |
| 2019 | $182,000 | $154,000 |
| 2020 | $189,000 | $164,000 |
| 2021 | $218,000 | $183,000 |
| 2022 | $257,000 | $209,000 |
| 2023 | $277,000 | $227,000 |
| 2024 | $285,000 | $237,000 |
| 2025 | $301,000 | $249,000 |
| 2026 | $306,000 | $256,000 |
| August 2026 | $304,000 | $260,000 |
48 new homes permitted in 2025
Builders were permitted 48 new homes in Monrovia in 2025: 44 single-family houses and 4 in buildings with two or more homes, worth about $15.7 million to build. That's 23 per 1,000 residents, faster than across Indiana (6). Over the past 10 years, Monrovia has permitted 445 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Monrovia gained 580 residents while 245 new homes were permitted: about 2.4 new residents per new home. Building and growth moved roughly in step. Across Indiana: 1.7 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 62 | 62 | 0 | $19.4 million |
| 2025 | 48 | 44 | 4 | $15.7 million |
| 2024 | 57 | 57 | 0 | $18.1 million |
| 2023 | 44 | 44 | 0 | $13.7 million |
| 2022 | 91 | 91 | 0 | $22.6 million |
| 2021 | 95 | 95 | 0 | $24.2 million |
| 2020 | 15 | 15 | 0 | $3.9 million |
| 2019 | 68 | 68 | 0 | $12.3 million |
| 2018 | 17 | 17 | 0 | $3.3 million |
| 2017 | 8 | 8 | 0 | $4 million |
| 2016 | 2 | 2 | 0 | $575,000 |
| 2015 | 7 | 7 | 0 | $1.6 million |
| 2014 | 30 | 30 | 0 | $4 million |
| 2013 | 25 | 25 | 0 | $2.9 million |
| 2012 | 38 | 38 | 0 | $4.6 million |
| 2011 | 28 | 28 | 0 | $3.7 million |
| 2010 | 22 | 22 | 0 | $3.2 million |
| 2009 | 11 | 11 | 0 | $1.7 million |
| 2008 | 16 | 16 | 0 | $1.6 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
3.3 years of income
The typical Monrovia home costs about 3.3 years of the town's median household income, less than across Indiana (3.6 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,120
HUD's Fair Market Rent for a two-bedroom in Monrovia is $1,120 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Monrovia pay a median of $1,385. A two-bedroom takes about 15% of the town's median household income.
Studio $830 · 4 bedrooms $1,760
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (46157, 46158; Indianapolis-Carmel, IN HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.