Monroe, MI
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.87×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Michigan
- 2.86×
- vs U.S.
- 3.43×-0.56
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
21.1%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Michigan
- 22.0%-0.9
- vs U.S.
- 23.3%-2.1
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.79%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Michigan
- 4.81%
- vs U.S.
- 4.35%+0.45
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.14%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Michigan
- -0.03%+0.16
- vs U.S.
- 0.03%+0.11
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
1.21
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Michigan
- 1.68
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
4.6%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Michigan
- 4.9%-0.3
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+44.1%
homeValues.yearOverYear
+5.0%
Median home value
$215,700
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,011 | $12,132 | 16.1% |
| 2 BR | $1,326 | $15,912 | 21.1% |
| 3 BR | $1,605 | $19,260 | 25.6% |
Labor market direction
Unemployment
4.6%
Median household income
$75,272
What's being built
Total TTM
188
Single-family
169
2–4 unit
14
5+ unit
5
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Monroe County | 154,823 | $215,700 | $75,272 | 188 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Monroe | 154,823 | $75,272 | 2.87× | 4.79% | +44.1% | 1.21 | 4.6% |
| Santa Fe, NM | 154,481 | $74,689 | — | — | +52.6% | — | 3.6% |
| Chambersburg-Waynesboro, PA | 156,084 | $74,946 | — | — | +51.2% | — | 3.1% |
| Idaho Falls, ID | 158,478 | $77,300 | — | — | +50.2% | — | 3.0% |
| State College, PA | 158,665 | $72,748 | — | — | +37.3% | — | 2.7% |
| Jefferson City, MO | 150,182 | $72,425 | — | — | +64.7% | — | 2.5% |
Where people are moving in from
Net migration
+211
+0.14% of population
| Origin county | Tax returns |
|---|---|
| Wayne County, MI | 1,182 |
| Lucas County, OH | 649 |
| Washtenaw County, MI | 290 |
| Lenawee County, MI | 148 |
| Oakland County, MI | 131 |
| Macomb County, MI | 56 |
Who lives in Monroe
- Median age
- 43
- Bachelor's+
- 23.4%
- Owner-occupancy
- 81.2%
- Vacancy rate
- 5.7%
- Rent burdened (30%+)
- 48.8%
- Median household income
- $75,272
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.