The typical owner-occupied home in Monroe is worth about $282,400, 31% above the Ohio median of $214,800 and 15% below the national median of $332,700. Owners pay a median $3,592 a year in property taxes, about 1.27% of their home's value, close to the Ohio rate of 1.31%. The median household earns $105,250 a year, so the median home costs 2.7 times the median income (3.0 times for Ohio). 81% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Monroe at a glance
| Monroe | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $282,400 | $214,800 | $332,700 |
| Median property tax paid per year | $3,592 | $2,822 | $3,119 |
| Property tax as a share of value | 1.27% | 1.31% | 0.94% |
| Median household income | $105,250 | $71,389 | $80,734 |
| Homes lived in by their owners | 81% | 67% | 65% |
| Owner homes with a mortgage | 74% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,775 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 18.6% | 21.0% |
| Median rent | $1,608 | $1,034 | $1,413 |
| Rent as a share of renters' income | 31.8% | 28.3% | 30.6% |
| Median year homes were built | 2001 | 1970 | 1980 |
| Vacant homes | 2.4% | 8.1% | 10.1% |
| Population | 15,401 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Monroe
At this week's average 30-year rate of 7.11%, buying the median Monroe home of $282,400 with 20% down costs about $1,936 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,407, 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 $82,985 for the 20%-down payment. That payment is 22% of the median Monroe household income of $105,250; at that income and 20% down, the 28% guideline points to a home of about $358,000.
The median rent here is $1,608 a month, so owning the median home costs about $328 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $56,480 |
|---|---|
| Loan amount | $225,920 |
| Principal and interest | $1,520 |
| Property taxes (1.27% a year) | $299 |
| Homeowners insurance (our estimate, 0.5% a year) | $118 |
| PMI | $0 |
| Total per month | $1,936 |
Change the numbers in the calculator
| Down payment | $9,884 |
|---|---|
| Loan amount | $277,285 |
| Principal and interest | $1,865 |
| Property taxes (1.27% a year) | $299 |
| Homeowners insurance (our estimate, 0.5% a year) | $118 |
| FHA mortgage insurance | $125 |
| Total per month | $2,407 |
Change the numbers in the calculator
Questions about home buying in Monroe
What is the median home value in Monroe?
About $282,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Monroe?
Homeowners pay a median $3,592 a year, which is about 1.27% 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?
For the median home with 20% down at 7.11%, the payment is about $1,936 a month. Keeping that under 28% of gross income takes about $82,985 a year.
More about Monroe
- Mortgage Refinance in Monroe
- Debt Relief in Monroe
- Home Equity Loans in Monroe
- 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