Monroe, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monroe, WA Real Estate Data


Monroe Housing Market Information

With a population of 18,090, 4,940 total housing units (homes and apartments), and a median house value of $316,006, 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 62.80% of the city's housing units. Other types of housing that are prevalent in Monroe include large apartment complexes or high rise apartments ( 20.48%), duplexes, homes converted to apartments or other small apartment buildings ( 8.13%), and a few row houses and other attached homes ( 7.48%).

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 55.74% owning and 44.26% 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 ( 19.61%). A lesser amount of the housing stock also hails from before 1939 ( 10.58%). There's also some housing in Monroe built between 1940-1969 ( 8.75%).

Monroe Home Appreciation Rates

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 -0.52% 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 10.16%, which is higher than appreciation rates in 97.94% 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 4.49%, which equates to an annual appreciation rate of 19.19%.

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 Washington, our data show that Monroe's latest annual appreciation rate is higher than 70% of the other cities and towns in Washington.

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:
$316,006

Monroe, WA HOME PRICES

Value Range
> $1,347,000 0.0
$1,010,001 - $1,347,000 0.7
$673,001 - $1,010,000 1.5
$539,001 - $673,000 2.7
$404,001 - $539,000 13.1
$269,001 - $404,000 50.7
$134,001 - $269,000 27.9
$68,001 - $134,000 1.6
$0 - $68,000 1.8

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
15.3832640393512 36.5248226950355

Number Of Homes And Apartments:
4,940

Rent & Ownership

 

Average Market Rent:
$1,994 / per month

Homeownership Rate

Homeownership
Owners 55.74
Renters 44.26
Vacant 7.20

Housing Market Details

 

Age of Homes

AGE OF Monroe HOMES
2000 or Newer 19.6
1970 - 1999 61.1
1940 - 1969 8.8
1939 or Older 10.6

Types of Homes

TYPE OF Monroe HOMES
Single-Family 62.8
Townhomes 7.5
Small Apt. Buildings 8.1
Apt. Complexes 20.5
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Monroe HOMES
No Bedroom 1.13
1 Bedroom 7.35
2 Bedrooms 23.09
3 Bedrooms 48.47
4 Bedrooms 16.21
5 or more bedrooms 3.76

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
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
51.11% 2.46% 3 6
* 10 is highest

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Zip Codes in Monroe, WA