Monroe Real Estate
1 neighborhoods and communities
Active listings 127
Sold (past 12mo) 630
HFG -5.0%ⓘ
Household Formation Gap (HFG) is a secondary market indicator that measures hidden housing demand created by shrinking household sizes. As average household size decreases — due to divorce, single living, empty nesting, delayed marriage — more housing units are needed even without population growth. HFG compares the estimated number of households needed today versus 15 years ago: (population ÷ avg household size). This is a demographic trend signal, not a primary market indicator like income-based affordability or comparative market analysis. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates (2009–2023), Tables B01003, B25010, B25001.
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Frequently Asked Questions about Monroe
How many homes are for sale in Monroe?
There are currently 127 active listings in Monroe. The median asking price is $230,000.
What are home prices like in Monroe?
Homes in Monroe sell for a median of $230,000, drawn from 630 transactions over the past year.
What is the average days on market in Monroe?
The average days on market in Monroe is 79, based on 630 recent transactions.
What are the best neighborhoods in Monroe?
There are 1 neighborhoods and condo communities in Monroe. Of these, 1 is a condo community.
Which school districts cover Monroe?
Monroe is served by one or more public school districts. In Michigan, school district boundaries do not always align with city limits, so different parts of Monroe may be zoned for different districts. Check individual listings for the specific school district assignment.
How competitive is the Monroe real estate market?
With 2.4 months of inventory, Monroe is currently a seller's market. This is based on 127 active listings and 630 sales in the past 12 months.
How are property taxes calculated in Monroe?
Michigan property taxes in Monroe are calculated using the State Equalized Value (SEV) times the local millage rate. Rates vary by school district and municipality. Primary residences qualify for a homestead exemption that reduces the tax rate.
What does demographic data show about housing demand in Monroe?
Per U.S. Census ACS data, Monroe has a -5.0% Household Formation Gap over the past 15 years, indicating softening demographic demand. Population declined 5.4%, outpacing the effect of shrinking household sizes (2.34 to 2.33). HFG is a secondary market indicator — local conditions and other factors also influence housing demand.
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