Monroe, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monroe, LA Real Estate Data


Monroe Housing Market Information

With 49,598 people, 18,390 houses or apartments, and a median cost of homes of $126,186, 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 69.15% 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 ( 14.80%), large apartment complexes or high rise apartments ( 12.54%), and a few row houses and other attached homes ( 2.07%).

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 42.63% owning and 57.37% 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 45.67% of the city's housing hails from this era. Other housing ages represented in Monroe include homes built between 1970-1999 ( 43.85%) and housing constructed before 1939 ( 5.69%). There's also some housing in Monroe built between 2000 and later ( 4.79%).

Vacant housing appears to be an issue in Monroe. Fully 12.98% 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

In the last 10 years, Monroe has experienced some of the highest home appreciation rates of any community in the nation. Monroe real estate appreciated 20.12% over the last ten years, which is an average annual home appreciation rate of 1.85%, putting Monroe in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Monroe definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 0.26%, 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 0.38%, which equates to an annual appreciation rate of 1.54%.

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:
$126,186

Monroe, LA HOME PRICES

Value Range
> $1,108,000 1.4
$831,001 - $1,108,000 1.2
$554,001 - $831,000 1.5
$443,001 - $554,000 1.3
$332,001 - $443,000 3.6
$222,001 - $332,000 11.4
$111,001 - $222,000 25.7
$55,001 - $111,000 28.3
$0 - $55,000 25.6

High for LA
Low for Nation

Value Relative to Nation Value Relative to State
63.0380043333138 39.2361111111111

Number Of Homes And Apartments:
18,390

Rent & Ownership

 

Average Market Rent:
$808 / per month

Homeownership Rate

Homeownership
Owners 42.63
Renters 57.37
Vacant 12.98

Housing Market Details

 

Age of Homes

AGE OF Monroe HOMES
2000 or Newer 4.8
1970 - 1999 43.9
1940 - 1969 45.7
1939 or Older 5.7

Types of Homes

TYPE OF Monroe HOMES
Single-Family 69.2
Townhomes 2.1
Small Apt. Buildings 14.8
Apt. Complexes 12.5
Mobile Homes 1.4
Other 0.0

Home Size

SIZE OF Monroe HOMES
No Bedroom 2.23
1 Bedroom 12.50
2 Bedrooms 28.79
3 Bedrooms 41.84
4 Bedrooms 12.63
5 or more bedrooms 2.00

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
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
52.77% 2.52% 4 6
* 10 is highest