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 about Scout's Real Estate Data
With 9,500 people, 2,860 houses or apartments, and a median cost of homes of $493,399, 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 71.06% of the village's housing units. Other types of housing that are prevalent in Monroe include row houses and other attached homes ( 11.98%), duplexes, homes converted to apartments or other small apartment buildings ( 8.64%), and a few large apartment complexes or high rise apartments ( 6.88%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Monroe. Owner-occupied housing accounts for 83.50% of Monroe's homes, and 73.53% have either three or four bedrooms, which is average sized relative to America.
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 ( 27.97%). A lesser amount of the housing stock also hails from before 1939 ( 12.32%). There's also some housing in Monroe built between 2000 and later ( 8.01%).
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 107.05%, which ranks in the top 30% nationwide. This equates to an annual average Monroe house appreciation rate of 7.55%.
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 8.10%, which is higher than appreciation rates in 71.25% 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 0.58%, which equates to an annual appreciation rate of 2.34%.
Notably, Monroe's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Monroe's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.
$493,399
for New york
for nation
2,860
$2,565 / per month