Monroe, MI housing market
Home prices around Monroe have risen about 56% over the past 5 years.
Home values, sales, trends and how Monroe compares with the towns next door — updated as new data is published.
Home prices up 56% in 5 years
The federal house price index for the ZIP codes around Monroe rose 56% over the past 5 years, faster than across Michigan (52%). Last year prices fell 3.6%.
Show as a table
| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | −3.6% | +119% | +97% |
| 2024 | +20% | +127% | +88% |
| 2023 | +1.1% | +89% | +76% |
| 2022 | +18% | +87% | +64% |
| 2021 | +13% | +59% | +45% |
| 2020 | +5.6% | +40% | +30% |
| 2019 | +7% | +33% | +26% |
| 2018 | +9.1% | +24% | +20% |
| 2017 | +9.8% | +14% | +12% |
| 2016 | +2.2% | +3.6% | +5.3% |
| 2015 | +2.8% | +1.4% | 0% |
| 2014 | +8.4% | −1.4% | −4.7% |
| 2013 | −4.3% | −9.1% | −12% |
| 2012 | +5.4% | −5% | −16% |
| 2011 | −13% | −9.9% | −16% |
| 2010 | −4.6% | +3.4% | −12% |
| 2009 | −2.5% | +8.3% | −5% |
| 2008 | −6.1% | +11% | +3.5% |
| 2007 | −1.3% | +18% | +11% |
| 2006 | −2.3% | +20% | +16% |
| 2005 | +6.9% | +23% | +18% |
| 2004 | +5.1% | +15% | +14% |
| 2003 | +0.8% | +9.3% | +10% |
| 2002 | +6% | +8.4% | +8.3% |
| 2001 | +2.3% | +2.3% | +5% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 49349, 49312, 49338, 49309, covering 51% of Monroe’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
Monroe and its neighbors
| Town | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|
| Monroe | −3.6%† | $990 | $42,500 |
| Wilcox | −4.3%† | $970 | $45,000 |
| Norwich | +3.2%† | $1,020 | $80,625 |
| Merrill | +4.4%† | $980 | $40,865 |
| Home | +10.4%† | $990 | $46,875 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $990
HUD's Fair Market Rent for a two-bedroom in Monroe is $990 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Monroe pay a median of $1,069.
Studio $710 · 4 bedrooms $1,340
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49309, 49312, 49338, 49349; Newaygo County, MI), 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. 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.