Monroe, CT Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Monroe, CT Housing Market Trends

With a population of 19,434, 6,673 total housing units (homes and apartments), and a median house value of $452,445, Monroe house prices are not only among the most expensive in Connecticut, Monroe real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Monroe, accounting for 86.71% of the town's housing units. Other types of housing that are prevalent in Monroe include row houses and other attached homes ( 4.53%), large apartment complexes or high rise apartments ( 4.29%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.96%).

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 90.29% of Monroe's homes, and 74.35% 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 ( 36.67%). A lesser amount of the housing stock also hails from before 1939 ( 9.34%). There's also some housing in Monroe built between 2000 and later ( 5.73%).

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 17.46%, which is annualized rate of 1.62%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 13.11%, which is higher than appreciation rates in 89.54% 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 4.31%, which equates to an annual appreciation rate of 18.37%.

Importantly, this makes Monroe one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Connecticut, our data show that Monroe's latest annual appreciation rate is higher than 70% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$452,445

Monroe, CT HOME PRICES

> $1,151,000
3.0%
3.0%
$863,001 - $1,151,000
1.7%
1.7%
$575,001 - $863,000
12.7%
12.7%
$460,001 - $575,000
23.6%
23.6%
$345,001 - $460,000
32.0%
32.0%
$230,001 - $345,000
19.0%
19.0%
$115,001 - $230,000
6.2%
6.2%
$57,001 - $115,000
0.6%
0.6%
$0 - $57,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CT

Value Relative To Nation

Number Of Homes And Apartments:
6,673

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
38.48% 1.53%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,930 / per month

Homeownership Rate

Owners
90.3%
90.3%
Renters
9.7%
9.7%
Vacant
4.8%
4.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.7%
5.7%
1970 - 1999
48.3%
48.3%
1940 - 1969
36.7%
36.7%
1939 or Older
9.3%
9.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
86.7%
86.7%
Townhomes
4.5%
4.5%
Small Apt. Buildings
4.0%
4.0%
Apt. Complexes
4.3%
4.3%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.5%
0.5%
1 Bedroom
6.7%
6.7%
2 Bedrooms
12.8%
12.8%
3 Bedrooms
40.5%
40.5%
4 Bedrooms
33.8%
33.8%
5 or more bedrooms
5.7%
5.7%
0.0% 100.0%
% OF HOMES