Housing in Monroe

A typical Monroe home is worth roughly $173,000

Home prices around Monroe have risen about 57% over the past 5 years.

Typical home value

$173K

▼ 5% in a year · MN $351K

Estimate

2-bedroom rent

$1,010

a month, utilities in · HUD

Median tax bill

$1,833

MN $3,357

What kind of housing town is Monroe?

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

Your money goes further51% below the Minnesota typical home.Prices coolingDown 5% in a year.

★ What stands out · Affordability

What it takes to buy in Monroe

Try your own numbers below.

You could afford about

$341,000

Typical Monroe home $173K

That covers a typical Monroe home, with $168K to spare.

The typical home, each month

$1,050

Loan $860Tax $150Insurance $50

A two-bedroom rents for about $1,010 a month here, $40 less than owning.

Where your budget reaches nearby

Tracy$140K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the Minnesota typical property tax (1.02% 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 57% in 5 years

The federal house price index for the ZIP codes around Monroe rose 57% over the past 5 years, faster than across Minnesota (37%). Last year prices fell 5%.

Monroe areaMinnesota

−5%

past year

+57%

past 5 years

+92%

past 10 years

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 $1,010

Fair Market Rent a month, utilities included

Studio$710

1 bedroom$860

2 bedrooms$1,010

3 bedrooms$1,380

4 bedrooms$1,690

13%

of households rent · MN 28%

renter households

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

The homes

88% of Monroe households own their home

Half of Monroe’s homes were built before 1957.

Owners and renters

Own 88%Rent 13%

Minnesota: 72% own.

1957

typical home built · MN 1979

$1,833

median property tax bill · MN $3,357

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.

Next door

Monroe vs. its neighbors

The towns that share a border with Monroe. Tap one to see its housing page.

Monroe$173K Tracy$140K

Compare more

Town	Typical value	1-yr change	2-bed rent	New homes 2025	Median income
Monroe	$173K*	−5%†	$1,010	—	$78,000
Tracy	$140K	+9.2%	$970	0	$67,788
Amiret	—	−4.2%†	$980	—	$109,375
Shetek	—	−4.9%†	$1,000	—	$96,250

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.