Monroe County, Michigan Housing Market
In Monroe County, Michigan, the median home value is $228,900, with a median monthly rent of $1,059. This places Monroe County at #1092 nationally out of 3134 counties by median home value, and #18 within Michigan.
📈 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: $1,216
- Establishments: 2,518
- BLS QCEW, 2025
Housing Supply
- Single-family: 177
- Multi-family: 14
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 66,235 (avg $75,816)
- Outflow: 64,253 (avg $75,942)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Monroe County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 49270 | 209.3 | +20.21% | 2025 |
| 2 | 48140 | 196.5 | +9.89% | 2025 |
| 3 | 48191 | 193.2 | +15.82% | 2025 |
| 4 | 48131 | 196.5 | +11.39% | 2025 |
| 5 | 48117 | 177.2 | +4.63% | 2025 |
| 6 | 48166 | 178.0 | +9.74% | 2025 |
| 7 | 48179 | 156.4 | +6.11% | 2025 |
| 8 | 48133 | 165.8 | +8.96% | 2025 |
| 9 | 48111 | 183.4 | +5.41% | 2025 |
| 10 | 48159 | 181.8 | +5.74% | 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.
How Monroe County Compares
| Metric | Monroe County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $228,900 | $197,292 | $227,706 |
| Median Gross Rent | $1,059 | $905 | $968 |
| Owner Occupancy Rate | 81.7% | 80.2% | 73.3% |
| Price/Rent Ratio | 18.0 | 17.9 | 18.7 |
Market Analysis
The median home value in Monroe County is 16.0% above the Michigan state average and 0.5% above the U.S. national average. The median rent of $1,059/month is 17.0% above the state average.
With a price-to-rent ratio of 18.0, 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 81.7%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Plymouth County | Iowa | $228,900 | $910 |
| Webster County | Missouri | $228,800 | $789 |
| Spalding County | Georgia | $228,700 | $1,113 |
| Miami County | Ohio | $229,100 | $966 |
| Bourbon County | Kentucky | $229,300 | $822 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| St. Clair County | $224,600 | $1,029 | 80.8% |
| Berrien County | $224,300 | $942 | 72.8% |
| Otsego County | $219,700 | $1,008 | 77.2% |
| Mason County | $219,600 | $896 | 78.3% |
| Lapeer County | $239,000 | $988 | 86.0% |
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 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).