Monroe, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monroe, WA 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Monroe Housing Market Information

With a population of 18,090, 4,777 total housing units (homes and apartments), and a median house value of $285,623, 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 65.96% of the city's housing units. Other types of housing that are prevalent in Monroe include large apartment complexes or high rise apartments ( 18.24%), duplexes, homes converted to apartments or other small apartment buildings ( 7.63%), and a few row houses and other attached homes ( 7.06%).

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 53.36% owning and 46.64% 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 ( 21.25%). A lesser amount of the housing stock also hails from before 1939 ( 9.44%). There's also some housing in Monroe built between 1940-1969 ( 8.09%).

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 -0.31% 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 11.91%, which is higher than appreciation rates in 97.33% 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 2.83%, which equates to an annual appreciation rate of 11.81%.

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:
$285,623

Monroe, WA HOME PRICES

Value Range
> $1,358,000 0.1
$1,019,001 - $1,358,000 0.4
$679,001 - $1,019,000 1.3
$543,001 - $679,000 2.4
$408,001 - $543,000 13.5
$272,001 - $408,000 51.6
$136,001 - $272,000 27.2
$68,001 - $136,000 2.0
$0 - $68,000 1.6

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
17.8483534513067 43.6170212765958

Number Of Homes And Apartments:
4,777

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
59.40% 2.74% 3 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,635 / per month

Homeownership Rate

Homeownership
Owners 53.36
Renters 46.64
Vacant 6.02

Housing Market Details

 

Age of Homes

AGE OF Monroe HOMES
2000 or Newer 21.2
1970 - 1999 61.2
1940 - 1969 8.1
1939 or Older 9.4

Types of Homes

TYPE OF Monroe HOMES
Single-Family 66.0
Townhomes 7.1
Small Apt. Buildings 7.6
Apt. Complexes 18.2
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Monroe HOMES
No Bedroom 1.44
1 Bedroom 7.50
2 Bedrooms 20.76
3 Bedrooms 52.11
4 Bedrooms 14.30
5 or more bedrooms 3.90

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Zip Codes in Monroe, WA