Monroe County, Indiana Housing Market
In Monroe County, Indiana, the median home value is $285,200, with a median monthly rent of $1,193. This places Monroe County at #699 nationally out of 3134 counties by median home value, and #4 within Indiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,102
- Establishments: 3,466
- BLS QCEW, 2025
Housing Supply
- Single-family: 190
- Multi-family: 949
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 50,805 (avg $85,293)
- Outflow: 48,052 (avg $80,589)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 4 active ZIP codes in Monroe County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 47433 | 231.8 | +8.94% | 2025 |
| 2 | 47408 | 267.7 | +5.59% | 2025 |
| 3 | 47429 | 255.9 | +2.89% | 2025 |
| 4 | 47404 | 270.2 | +3.43% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Monroe County Compares
| Metric | Monroe County | Indiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $285,200 | $191,898 | $227,706 |
| Median Gross Rent | $1,193 | $910 | $968 |
| Owner Occupancy Rate | 54.0% | 76.3% | 73.3% |
| Price/Rent Ratio | 19.9 | 17.5 | 18.7 |
Market Analysis
The median home value in Monroe County is 48.6% above the Indiana state average and 25.2% above the U.S. national average. The median rent of $1,193/month is 31.1% above the state average.
With a price-to-rent ratio of 19.9, the buy-vs-rent decision in Monroe County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Monroe County has an owner-occupancy rate of 54.0%, compared to 76.3% in Indiana and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Goodhue County | Minnesota | $285,100 | $966 |
| Moore County | Tennessee | $285,300 | $841 |
| Williams County | North Dakota | $284,800 | $1,123 |
| Baker County | Oregon | $285,600 | $865 |
| Benzie County | Michigan | $285,700 | $1,026 |
Other Counties in Indiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Johnson County | $284,600 | $1,271 | 72.7% |
| Porter County | $281,500 | $1,219 | 77.7% |
| Hancock County | $274,800 | $1,203 | 79.5% |
| Brown County | $269,100 | $895 | 86.6% |
| Hendricks County | $307,600 | $1,436 | 78.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).