Housing in South Monroe

A typical South Monroe home is worth roughly $212,000

The median sale price was $325,000 in May 2026.

Typical home value

$212K

▲ 3.9% in a year · MI $232K

Estimate

Median sale price

$325K

May 2026 · Redfin

Homes sold

in May · 9 for sale

2-bedroom rent

$1,250

a month, utilities in · HUD

Median tax bill

$2,175

MI $2,904

Only 3 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.

Price trend

Home prices up 42% in 5 years

The federal house price index for the ZIP code around South Monroe rose 42% over the past 5 years, slower than across Michigan (52%). Last year prices rose 3.9%. Carrying the Census median home value forward with that index puts the typical South Monroe home at roughly $212,000 today.

South Monroe areaMichigan

+3.9%

past year

+42%

past 5 years

+80%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $212K.

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

Affordability

A typical home costs 3.4 years of income

About the same as across Michigan. Try your own numbers below.

You could afford about

$232,000

Typical South Monroe home $212K

That covers a typical South Monroe home, with $20K to spare.

The typical home, each month

$1,320

Loan $1,050Tax $210Insurance $60

A two-bedroom rents for about $1,250 a month here, $70 less than owning.

Where your budget reaches nearby

Monroe$223K Monroe$168K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, South Monroe’s typical property tax (1.18% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $1,250

Renters already here pay a median of $987, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$860

1 bedroom$950

2 bedrooms$1,250

3 bedrooms$1,510

4 bedrooms$2,020

30%

of households rent · MI 27%

914

renter households

62%

of renters spend 30%+ of income on rent · MI 50%

24%

of the median income, for a two-bedroom

$987

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Monroe, MI MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

The homes

70% of South Monroe households own their home

Half of South Monroe’s homes were built before 1977.

Owners and renters

Own 70%Rent 30%

Michigan: 73% own.

1977

typical home built · MI 1972

$2,175

median property tax bill · MI $2,904

1.18%

of a home’s value, a year in tax · MI 1.25%

of homes are seasonal or vacation homes

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

Next door

South Monroe vs. its neighbors

South Monroe is the 2nd least expensive of 3 neighboring towns. Tap one to see its housing page.

Monroe$223K South Monroe$212K Monroe$168K

Compare more

Town	Typical value	1-yr change	2-bed rent	New homes 2025	Median income
South Monroe	$212K*	+3.9%†	$1,250	—	$61,982
Monroe	$223K	+5.8%	$1,250	11	$66,909
Monroe	$168K*	+5.8%†	$1,220	13	$59,813

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 South Monroe buyers, sellers and renters are saying.

Town Square →

Weigh in

Is South 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, May 2026. 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.