Monroe, LA Real Estate Market
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 Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Monroe, LA Housing Market Trends
With a population of 46,820, 17,936 total housing units (homes and apartments), and a median house value of $163,816, the cost of homes in Monroe is among some of the lowest in the nation. Compared to Louisiana, however, Monroe real state is not on the lower end of the price spectrum.
Single-family detached homes are the single most common housing type in Monroe, accounting for 68.37% of the city's housing units. Other types of housing that are prevalent in Monroe include large apartment complexes or high rise apartments ( 14.64%), duplexes, homes converted to apartments or other small apartment buildings ( 13.26%), and a few row houses and other attached homes ( 2.13%).
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 41.37% owning and 58.63% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Monroe's housing was primarily built during this period, from the '40s through the '60s. A full 41.35% of the city's housing hails from this era. Other housing ages represented in Monroe include homes built between 1970-1999 ( 39.33%) and housing constructed between 2000 and later ( 13.82%). There's also some housing in Monroe built before 1939 ( 5.50%).
Vacant housing appears to be an issue in Monroe. Fully 14.30% of the housing stock is classified as vacant. Left unchecked, vacant Monroe homes and apartments can be a drag on the real estate market, holding Monroe real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Monroe Home Appreciation Rates
Some of the lowest real estate appreciation rates in America over the last ten years have been in Monroe, where house values have increased just 30.94%, which is annualized rate of 2.73%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Monroe appreciation rates have trailed the rest of the nation. In the last twelve months, Monroe's appreciation rate has been 0.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Monroe were at -0.17%, which equates to an annual appreciation rate of -0.69%.
Notably, Monroe's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Monroe's latest annual appreciation rate is lower than 70% of the other cities and towns in Louisiana.
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.
Median Home Value
$163,816
Average
for Louisiana
Very Low
for nation
Number of Homes And Apartments:
17,936
LA
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$1,332 / per month