Monroe, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Monroe Neighborhoods Since 2000




Monroe, GA Real Estate Data


Monroe Housing Market Information

With 13,641 people, 5,034 houses or apartments, and a median cost of homes of $149,772, 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 58.35% 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 ( 20.58%), large apartment complexes or high rise apartments ( 12.22%), and a few row houses and other attached homes ( 5.30%).

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 39.01% owning and 60.99% 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 ( 23.81%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.78%). There's also some housing in Monroe built before 1939 ( 6.81%).

Vacant housing appears to be an issue in Monroe. Fully 19.13% 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 -0.84%, which is lower than 70% of US communities.

Appreciation rates are so strong in Monroe that despite a nationwide downturn in the housing market, Monroe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monroe appreciation rates continue to be some of the highest in America, at 7.34%, which is higher than appreciation rates in 87.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monroe. Monroe appreciation rates in the latest quarter were at 2.99%, which equates to an annual appreciation rate of 12.51%.

Importantly, this makes Monroe one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Georgia, our data show that Monroe's latest annual appreciation rate is higher than 70% 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:
$149,772

Monroe, GA HOME PRICES

Value Range
> $1,277,000 0.0
$958,001 - $1,277,000 0.4
$639,001 - $958,000 1.6
$511,001 - $639,000 1.9
$383,001 - $511,000 3.8
$255,001 - $383,000 10.8
$127,001 - $255,000 43.1
$64,001 - $127,000 29.8
$0 - $64,000 8.5

High for GA
Average for Nation

Value Relative to Nation Value Relative to State
50.881302336476 33.615221987315

Number Of Homes And Apartments:
5,034

Rent & Ownership

 

Average Market Rent:
$980 / per month

Homeownership Rate

Homeownership
Owners 39.01
Renters 60.99
Vacant 19.13

Housing Market Details

 

Age of Homes

AGE OF Monroe HOMES
2000 or Newer 23.8
1970 - 1999 50.6
1940 - 1969 18.8
1939 or Older 6.8

Types of Homes

TYPE OF Monroe HOMES
Single-Family 58.3
Townhomes 5.3
Small Apt. Buildings 20.6
Apt. Complexes 12.2
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF Monroe HOMES
No Bedroom 1.46
1 Bedroom 9.32
2 Bedrooms 30.17
3 Bedrooms 46.99
4 Bedrooms 11.26
5 or more bedrooms 0.80

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
10.48% 0.59% 2 1
* 10 is highest