The typical owner-occupied home in Monroe County is worth about $271,200, 11% below the Georgia median of $303,300 and 18% below the national median of $332,700. Owners pay a median $1,886 a year in property taxes, about 0.70% of their home's value, lower than the Georgia rate of 0.77%. The median household earns $83,183 a year, so the median home costs 3.3 times the median income (3.9 times for Georgia). 84% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Monroe County at a glance
| Monroe County | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $271,200 | $303,300 | $332,700 |
| Median property tax paid per year | $1,886 | $2,341 | $3,119 |
| Property tax as a share of value | 0.70% | 0.77% | 0.94% |
| Median household income | $83,183 | $77,353 | $80,734 |
| Homes lived in by their owners | 84% | 66% | 65% |
| Owner homes with a mortgage | 58% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,822 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 20.0% | 21.0% |
| Median rent | $943 | $1,393 | $1,413 |
| Rent as a share of renters' income | 22.7% | 31.3% | 30.6% |
| Median year homes were built | 1995 | 1992 | 1980 |
| Vacant homes | 8.8% | 10.3% | 10.1% |
| Population | 29,664 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Monroe County
At this week's average 30-year rate of 7.11%, buying the median Monroe County home of $271,200 with 20% down costs about $1,731 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,182, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $74,173 for the 20%-down payment. That payment is 25% of the median Monroe County household income of $83,183; at that income and 20% down, the 28% guideline points to a home of about $304,000.
The median rent here is $943 a month, so owning the median home costs about $788 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $54,240 |
|---|---|
| Loan amount | $216,960 |
| Principal and interest | $1,460 |
| Property taxes (0.70% a year) | $158 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| PMI | $0 |
| Total per month | $1,731 |
Change the numbers in the calculator
| Down payment | $9,492 |
|---|---|
| Loan amount | $266,288 |
| Principal and interest | $1,791 |
| Property taxes (0.70% a year) | $158 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| FHA mortgage insurance | $120 |
| Total per month | $2,182 |
Change the numbers in the calculator
Questions about home buying in Monroe County
What is the median home value in Monroe County?
About $271,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Monroe County?
Homeowners pay a median $1,886 a year, which is about 0.70% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Monroe County?
For the median home with 20% down at 7.11%, the payment is about $1,731 a month. Keeping that under 28% of gross income takes about $74,173 a year.
More about Monroe County
- Mortgage Refinance in Monroe County
- Debt Relief in Monroe County
- Home Equity Loans in Monroe County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data