Monroe, LA 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 Q4 2020. 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, LA Housing Market Trends

With 47,294 people, 17,327 houses or apartments, and a median cost of homes of $94,896, house prices in Monroe are solidly below the national average.

Single-family detached homes are the single most common housing type in Monroe, accounting for 66.66% of the city's housing units. Other types of housing that are prevalent in Monroe include large apartment complexes or high rise apartments ( 15.40%), duplexes, homes converted to apartments or other small apartment buildings ( 13.40%), and a few row houses and other attached homes ( 3.19%).

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 39.66% owning and 60.34% renting.

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 ( 40.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.69%). There's also some housing in Monroe built before 1939 ( 5.49%).

Vacant housing appears to be an issue in Monroe. Fully 16.20% 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

Monroe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Monroe during the period has been just 1.71%, which is lower than 70% of US communities.

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 4.82%, 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 1.83%, which equates to an annual appreciation rate of 7.53%.

Relative to Louisiana, our data show that Monroe's latest annual appreciation rate is higher 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.

Average Home Values

 

Median Home Value:
$94,896

Monroe, LA HOME PRICES

> $1,098,000
1.2%
1.2%
$823,001 - $1,098,000
0.8%
0.8%
$549,001 - $823,000
3.2%
3.2%
$439,001 - $549,000
1.9%
1.9%
$330,001 - $439,000
5.0%
5.0%
$220,001 - $330,000
9.3%
9.3%
$110,001 - $220,000
25.1%
25.1%
$55,001 - $110,000
28.7%
28.7%
$0 - $55,000
24.8%
24.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for LA

Value Relative To Nation

Number Of Homes And Apartments:
17,327

Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
57.15% 2.18%
2
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,016 / per month

Homeownership Rate

Owners
39.7%
39.7%
Renters
60.3%
60.3%
Vacant
16.2%
16.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.7%
9.7%
1970 - 1999
44.8%
44.8%
1940 - 1969
40.0%
40.0%
1939 or Older
5.5%
5.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.7%
66.7%
Townhomes
3.2%
3.2%
Small Apt. Buildings
13.4%
13.4%
Apt. Complexes
15.4%
15.4%
Mobile Homes
1.4%
1.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.9%
1.9%
1 Bedroom
13.4%
13.4%
2 Bedrooms
27.4%
27.4%
3 Bedrooms
41.6%
41.6%
4 Bedrooms
13.5%
13.5%
5 or more bedrooms
2.2%
2.2%
0.0% 100.0%
% OF HOMES