Monroe, MI home prices
Typical home $270,413 · +6.1% in a year · income needed $79,300
The Monroe, MI metro area ranks 391 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +6.1% in a year and +27.5% over five years. With 20% down at 7.11%, the typical home costs about $1,851 a month including 1.16% property tax (Monroe County rate).
Mortgage on the typical Monroe home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $54,083 | $216,331 | $1,455 | $0 | $396 | $1,851 | $79,300 |
| 10% down | $27,041 | $243,372 | $1,637 | $101 | $396 | $2,134 | $91,500 |
| 5% down | $13,521 | $256,893 | $1,728 | $107 | $396 | $2,231 | $95,600 |
| 3.5% down (FHA) | $9,464 | $265,516 | $1,786 | $120 | $396 | $2,302 | $98,600 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.16% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Monroe area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Monroe County, MI | $270,412 | +6.1% | 1.16% |
What can you afford in Michigan on your salary? · Michigan home prices · Salaries in Michigan
Frequently asked questions
How much is a house in Monroe?
The typical home in the Monroe, MI metro area is worth $270,413 (Zillow, September 2026).
What salary do you need to buy a house in Monroe?
About $79,300 a year for the typical home with 20% down at 7.11%.