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 34,623, 11,390 total housing units (homes and apartments), and a median house value of $175,395, Monroe real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Monroe, accounting for 71.62% of the city's housing units. Other types of housing that are prevalent in Monroe include large apartment complexes or high rise apartments ( 15.23%), duplexes, homes converted to apartments or other small apartment buildings ( 7.58%), and a few mobile homes or trailers ( 2.83%).
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 56.60% owning and 43.40% 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 1940-1969 ( 24.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 23.87%). There's also some housing in Monroe built before 1939 ( 7.17%).
Real estate appreciation rates in Monroe's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.06% during the period.
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 5.82%, which is higher than appreciation rates in 72.48% 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 1.88%, which equates to an annual appreciation rate of 7.72%.
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 North Carolina, our data show that Monroe's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.
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.
|$860,001 - $1,146,000||1.6|
|$573,001 - $860,000||1.6|
|$458,001 - $573,000||1.2|
|$344,001 - $458,000||6.3|
|$229,001 - $344,000||14.8|
|$115,001 - $229,000||47.9|
|$57,001 - $115,000||19.2|
|$0 - $57,000||7.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Monroe HOMES|
|2000 or Newer||23.9|
|1970 - 1999||44.1|
|1940 - 1969||24.9|
|1939 or Older||7.2|
|TYPE OF Monroe HOMES|
|Small Apt. Buildings||7.6|
|SIZE OF Monroe HOMES|
|5 or more bedrooms||4.08|