Monroe County, Tennessee 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 9% above the Tennessee median More expensive than 77% of counties in Tennessee$279,032
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Median rent 40% below the Tennessee median Cheaper than 87% of counties in Tennessee$714
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Monroe County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $279,032 | $255,786 | $248,835 |
| Price Trend (Annual %) | 113.8% | 9.9% | 7.5% |
| Median Gross Rent | $714 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 2.5% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Monroe County is about 9% higher than in Tennessee. Rent is about 40% lower than the Tennessee 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 113.8% and 2.5% a year respectively. Home prices are changing faster.
Median rent in Monroe County rose about 20.1% between 2015 and 2024, from $595 to $714. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Monroe County.
Buying the median-priced home in Monroe County costs roughly 32.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Monroe County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Monroe County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $279,032 | $255,786 | $248,835 |
| Median Household Income | $56,619 | $69,901 | $80,455 |
| Price-to-Income Ratio | 4.9 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Monroe County rose about 255.1%, while median household income rose about 43.4% 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 | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.4% | 60.1% | 58.5% |
| Rental Rate | 25.2% | 29.7% | 31.2% |
| Vacancy Rate | 9.4% | 10.2% | 10.2% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Monroe County has a homeownership rate of 65.4%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 9.4%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Monroe County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1991 | 1986 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Monroe County was built around 1991. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Monroe County, TN Housing Compared With Nearby Counties
Monroe County, TN is the smallest of the 4 counties compared here, 47,695 residents against a local median of 58,580. The measure that sets Monroe County, TN apart most is median home price: $279,032, 91% above the local median of $146,249.
Median rent tells the same story from another angle: $714 against a local median of $1,062, 33% below it. The counties themselves spread $191,897 on median home price, so Monroe County, TN sits at one end of an already wide local range rather than apart from it. Monroe County, TN has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Monroe County, TN | 47,695 | $279,032 #2/4 | $714 #4/4 | 72.2% #4/4 |
| Loudon County, TN | 58,580 | $143,103 | $1,062 | 80.3% |
| McMinn County, TN | 54,884 | $146,249 | $803 | 75.8% |
| Blount County, TN | 139,333 | $334,999 | $1,090 | 77.0% |
Frequently Asked Questions
Common questions about the housing market in Monroe County, Tennessee.
What is the median home price in Monroe County, Tennessee?
The median home price in Monroe County, Tennessee is $279,032, higher than the Tennessee average of $255,786.
What is the average home price in Monroe County, Tennessee?
The typical home price in Monroe County, Tennessee, reported as the median sale price, is $279,032. 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, Tennessee?
The median gross rent in Monroe County, Tennessee is $714 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Monroe County in 2020?
In 2020, the median gross rent in Monroe County, Tennessee was $635 per month.
What is the price-to-rent ratio in Monroe County, Tennessee?
The price-to-rent ratio in Monroe County, Tennessee is about 32.6, meaning it would take roughly 32.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Monroe County.
Are home prices or rent rising faster in Monroe County, Tennessee?
Both home prices and rent are rising in Monroe County, up about 113.8% and 2.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Monroe County, Tennessee?
65.4% of households in Monroe County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Monroe County, Tennessee?
The housing vacancy rate in Monroe County, Tennessee is 9.4%, lower than the Tennessee average of 10.2%.
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