Cost of Living in Monroe, MI
Population 20,320 · Census ACS 2020–2024 5-year estimates
The median rent in Monroe, MI is $909/month, 19% lower than the Michigan median and 36% lower than the U.S. median. The median home value is $167,900, 50% lower than the national median. Households earn a median of $59,813 a year, 18% lower than the state median.
Affordability
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Monroe vs. Michigan vs. U.S.
| Monroe | Michigan | U.S. | |
|---|---|---|---|
| Median rent | $909 | $1,129 | $1,413 |
| Median home value | $167,900 | $231,600 | $332,700 |
| Median household income | $59,813 | $72,875 | $80,734 |
| Homeownership rate | 69.3% | 73.2% | 65.2% |
| Bachelor's degree or higher | 19.9% | 32.4% | 35.7% |
| Poverty rate | 19.2% | 13.2% | 12.5% |
| Unemployment rate | 7.3% | 5.7% | 5.2% |
| Work from home | 6.8% | 13.5% | 15.1% |
| Median age | 37.6 | 40.2 | 38.9 |
FAQ
What is the average rent in Monroe, MI?
The median gross rent in Monroe, MI is $909 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Monroe, MI?
Using the common 30% rule, renting a median-priced home takes about $36,360 a year in gross income.
Is Monroe, MI expensive to live in?
Rent there is 36% lower than the U.S. median, and the median home costs about 2.8 times the median household income.
Other cities in Michigan
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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