Monroe, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monroe, GA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Monroe Housing Market Information

With a population of 13,641, 4,843 total housing units (homes and apartments), and a median house value of $145,115, Monroe real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Monroe, accounting for 58.30% of the city's housing units. Other types of housing that are prevalent in Monroe include duplexes, homes converted to apartments or other small apartment buildings ( 21.08%), large apartment complexes or high rise apartments ( 11.49%), and a few row houses and other attached homes ( 5.20%).

The most prevalent building size and type in Monroe are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 36.47% owning and 63.53% renting.

There is a lot of housing in Monroe built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Monroe built between 2000 and later ( 21.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.39%). There's also some housing in Monroe built before 1939 ( 8.54%).

Vacant housing appears to be an issue in Monroe. Fully 16.93% of the housing stock is classified as vacant. Left unchecked, vacant Monroe homes and apartments can be a drag on the real estate market, holding Monroe real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Monroe Home Appreciation Rates

Monroe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Monroe during the period has been just -1.16%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Monroe's appreciation rate, at 5.18%, has been at or slightly above the national average. In the latest quarter, Monroe's appreciation rate has been 1.10%, which annualizes to a rate of 4.47%.

Relative to Georgia, our data show that Monroe's latest annual appreciation rate is higher than 50% of the other cities and towns in Georgia.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Monroe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Monroe - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Monroe real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$145,115

Monroe, GA HOME PRICES

Value Range
> $1,224,000 0.0
$917,001 - $1,224,000 0.4
$612,001 - $917,000 0.7
$489,001 - $612,000 2.2
$367,001 - $489,000 3.2
$245,001 - $367,000 13.0
$123,001 - $245,000 42.0
$61,001 - $123,000 30.8
$0 - $61,000 7.8

High for GA
Average for Nation

Value Relative to Nation Value Relative to State
52.0918785890074 35.0951374207188

Number Of Homes And Apartments:
4,843

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
9.20% 0.51% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$933 / per month

Homeownership Rate

Homeownership
Owners 36.47
Renters 63.53
Vacant 16.93

Housing Market Details

 

Age of Homes

AGE OF Monroe HOMES
2000 or Newer 21.1
1970 - 1999 51.9
1940 - 1969 18.4
1939 or Older 8.5

Types of Homes

TYPE OF Monroe HOMES
Single-Family 58.3
Townhomes 5.2
Small Apt. Buildings 21.1
Apt. Complexes 11.5
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Monroe HOMES
No Bedroom 2.26
1 Bedroom 9.90
2 Bedrooms 30.62
3 Bedrooms 43.19
4 Bedrooms 12.81
5 or more bedrooms 1.22