Monroe County, Indiana Housing Market Prices
Monroe County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 77% above the Indiana median More expensive than 90% of counties in Indiana$252,326
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Median rent 12% above the Indiana median More expensive than 93% of counties in Indiana$1,192
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Monroe County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $252,326 | $142,738 | $248,835 |
| Price Trend (Annual %) | 12.4% | 7.2% | 7.5% |
| Median Gross Rent | $1,192 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Monroe County is about 77% higher than in Indiana. Rent is about 12% higher than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Monroe County, up about 12.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Monroe County rose about 42.6% between 2015 and 2024, from $836 to $1,192. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Monroe County.
Buying the median-priced home in Monroe County costs roughly 17.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Monroe County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Monroe County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $252,326 | $142,738 | $248,835 |
| Median Household Income | $65,876 | $71,967 | $80,455 |
| Price-to-Income Ratio | 3.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Monroe County rose about 117.8%, while median household income rose about 64.7% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Monroe County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.7% | 64.4% | 58.5% |
| Rental Rate | 41.5% | 26.9% | 31.2% |
| Vacancy Rate | 9.8% | 8.8% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Monroe County has a homeownership rate of 48.7%, lower than the Indiana average of 64.4%. Its housing vacancy rate is 9.8%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Monroe County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1984 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.9 | 5.5 |
The typical housing unit in Monroe County was built around 1984. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 12.0 years on average.
Monroe County, IN Housing Compared With Nearby Counties
Monroe County, IN is the largest of the 4 counties compared here, 140,965 residents against a local median of 45,100. Monroe County, IN's median home price, at $252,326, runs 49% above the $169,852 typical of the counties around it.
Homeownership tells the same story from another angle: 54.0% against a local median of 81.4%, 34% below it. The one measure here that carries a verdict is homeownership, and at 34% below the local median it puts Monroe County, IN at the weaker end of the local range. The counties themselves spread $201,776 on median home price, so Monroe County, IN sits at one end of an already wide local range rather than apart from it. Monroe County, IN has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Monroe County, IN | 140,965 | $252,326 #2/4 | $1,192 #1/4 | 54.0% #4/4 |
| Lawrence County, IN | 45,100 | $103,779 | $844 | 80.7% |
| Morgan County, IN | 72,659 | $169,852 | $1,042 | 82.1% |
| Owen County, IN | 21,604 | $305,556 | $911 | 81.4% |
Frequently Asked Questions
Common questions about the housing market in Monroe County, Indiana.
What is the median home price in Monroe County, Indiana?
The median home price in Monroe County, Indiana is $252,326, higher than the Indiana average of $142,738.
What is the average home price in Monroe County, Indiana?
The typical home price in Monroe County, Indiana, reported as the median sale price, is $252,326. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Monroe County, Indiana?
The median gross rent in Monroe County, Indiana is $1,192 per month, higher than the Indiana average of $1,062.
What was the median gross rent in Monroe County in 2020?
In 2020, the median gross rent in Monroe County, Indiana was $948 per month.
What is the price-to-rent ratio in Monroe County, Indiana?
The price-to-rent ratio in Monroe County, Indiana is about 17.6, meaning it would take roughly 17.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Monroe County.
Are home prices or rent rising faster in Monroe County, Indiana?
Both home prices and rent are rising in Monroe County, up about 12.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Monroe County, Indiana?
48.7% of households in Monroe County, Indiana own their home, lower than the Indiana average of 64.4%.
What is the vacancy rate in Monroe County, Indiana?
The housing vacancy rate in Monroe County, Indiana is 9.8%, higher than the Indiana average of 8.8%.
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