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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 48,371, 17,410 total housing units (homes and apartments), and a median house value of $108,051, house prices in Monroe are solidly below the national average.
Single-family detached homes are the single most common housing type in Monroe, accounting for 67.92% 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 ( 14.04%), large apartment complexes or high rise apartments ( 13.51%), and a few row houses and other attached homes ( 3.05%).
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 41.21% owning and 58.79% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Monroe's housing was primarily built during this period, from the '40s through the '60s. A full 44.20% of the city's housing hails from this era. Other housing ages represented in Monroe include homes built between 1970-1999 ( 42.17%) and housing constructed between 2000 and later ( 7.09%). There's also some housing in Monroe built before 1939 ( 6.54%).
Vacant housing appears to be an issue in Monroe. Fully 15.39% 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.
Appreciation rates for homes in Monroe have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 16.85%, which ranks in the top 50% nationwide. This equates to an annual average Monroe house appreciation rate of 1.57%.
Over the last year, Monroe appreciation rates have trailed the rest of the nation. In the last twelve months, Monroe's appreciation rate has been 4.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Monroe were at 4.12%, which equates to an annual appreciation rate of 17.52%.
Importantly, NeighborhoodScout’s exclusive research found that Monroe's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Louisiana, our data show that Monroe's latest annual appreciation rate is higher than 90% of the other cities and towns in Louisiana.
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.
|$847,001 - $1,129,000||1.3|
|$564,001 - $847,000||2.0|
|$452,001 - $564,000||1.7|
|$339,001 - $452,000||3.9|
|$226,001 - $339,000||11.9|
|$113,001 - $226,000||24.2|
|$56,001 - $113,000||26.0|
|$0 - $56,000||27.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
2000 Q1 - 2018 Q4
|* 10 is highest|
|AGE OF Monroe HOMES|
|2000 or Newer||7.1|
|1970 - 1999||42.2|
|1940 - 1969||44.2|
|1939 or Older||6.5|
|TYPE OF Monroe HOMES|
|Small Apt. Buildings||14.0|
|SIZE OF Monroe HOMES|
|5 or more bedrooms||2.21|