Monroe, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monroe, LA 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 Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Monroe Housing Market Information

With 49,297 people, 17,717 houses or apartments, and a median cost of homes of $94,353, 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 68.16% 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 ( 14.58%), large apartment complexes or high rise apartments ( 12.58%), and a few row houses and other attached homes ( 3.12%).

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 41.07% owning and 58.93% 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 45.33% of the city's housing hails from this era. Other housing ages represented in Monroe include homes built between 1970-1999 ( 42.19%) and housing constructed between 2000 and later ( 6.28%). There's also some housing in Monroe built before 1939 ( 6.20%).

Vacant housing appears to be an issue in Monroe. Fully 13.95% 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

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 15.77%, which ranks in the top 40% nationwide. This equates to an annual average Monroe house appreciation rate of 1.47%.

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 0.67%, 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 0.04%, which equates to an annual appreciation rate of 0.17%.

Notably, Monroe's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Louisiana, our data show that Monroe's latest annual appreciation rate is lower than 80% 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.

Average Home Values

 

Median Home Value:
$94,353

Monroe, LA HOME PRICES

Value Range
> $1,120,000 1.0
$841,001 - $1,120,000 1.1
$560,001 - $841,000 2.1
$448,001 - $560,000 1.6
$336,001 - $448,000 3.2
$224,001 - $336,000 12.1
$112,001 - $224,000 22.9
$56,001 - $112,000 29.3
$0 - $56,000 26.7

Low for LA
Very Low for Nation

Value Relative to Nation Value Relative to State
84.7182481751825 73.7024221453287

Number Of Homes And Apartments:
17,717

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
54.23% 2.37%
3
5
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$854 / per month

Homeownership Rate

Homeownership
Owners 41.07
Renters 58.93
Vacant 13.95

Housing Market Details

 

Age of Homes

AGE OF Monroe HOMES
2000 or Newer 6.3
1970 - 1999 42.2
1940 - 1969 45.3
1939 or Older 6.2

Types of Homes

TYPE OF Monroe HOMES
Single-Family 68.2
Townhomes 3.1
Small Apt. Buildings 14.6
Apt. Complexes 12.6
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Monroe HOMES
No Bedroom 2.22
1 Bedroom 13.10
2 Bedrooms 27.26
3 Bedrooms 42.87
4 Bedrooms 12.42
5 or more bedrooms 2.13