Schools
Most city neighborhoods are served by Monroe Public Schools (district office at 1275 N. Macomb St); eastern and Frenchtown-area homes feed Jefferson Schools.
Monroe County, Michigan
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Buying a home in Monroe
Sitting on the River Raisin where it empties toward Lake Erie, Monroe is Monroe County's seat and an industrial anchor of southeast Michigan. The city of roughly 20,040 residents (World Population Review) is best known as the global headquarters of furniture maker La-Z-Boy and home to DTE Energy's Fermi 2 nuclear and Monroe coal power complex, the single largest taxpayer at about 39% of the local tax base (City of Monroe). Its perch on I-75, midway between Detroit (~38 miles north) and Toledo (~20 miles south), hands residents a dual-metro labor market. Add ProMedica Monroe Regional Hospital, Monroe Public Schools, the Mall of Monroe and county government, and you get a steady, employer-diverse housing demand base. Median household income runs near $59,800 (Data USA), keeping the typical home within reach for local buyers.
By the numbers
Monroe housing and mortgage snapshot
Values move. Treat these as orientation and let us pull current figures for the address you are considering.
$203,000
Typical home value, from the market research on this page
+43%
Typical rise in taxable value the year after a home sells, 2026 Uncapping Study
1.29%
Effective property tax rate, as a share of value
2
Residential ZIP codes: 48161, 48162
What financing looks like in Monroe
To afford a roughly $210,000 median home with about 10% down at prevailing rates, plan on a household income near $65,000, close to Monroe's ~$59,800 median, so the typical home stays attainable for many local buyers. Property taxes deserve a close look: the city of Monroe's effective rate is about 1.29%, above Michigan's 1.05% median, and the Monroe County median bill runs near $2,179 (Ownwell). Your exact bill follows the certified millage in the county's annual Apportionment Report (Monroe County Equalization). First-time buyers should explore MSHDA down-payment assistance paired with FHA financing. At this price point, virtually every purchase falls within conforming loan limits, jumbo financing only comes into play for the newer $350K-$525K Craftsman subdivisions.
Nearly every Monroe purchase fits well under the 2026 conforming limit of $832,750, so loan size is rarely the constraint.
Sub-markets
Monroe housing market by ZIP code
Monroe spans 2 residential ZIP codes, and they are different sub-markets.
ZIP 48161, near $202,000
The typical home in ZIP 48161 is valued around $202,000-$212,000 as of 2026, Zillow's typical value sits near $202,800 (Zillow), RealtyTrac pegs the ZIP near $202,000 (RealtyTrac), and Redfin reported a March 2026 median sale price of about $212K (Redfin). Year-over-year readings vary in this small, volatile market, from Zillow's modest ~+1.7% to a spikier Redfin figure, roughly low- to mid-single-digit growth. Homes in the city sold in about 34 days, slightly faster than 37 a year earlier, while Monroe County overall moves in roughly 17 days. Tight inventory has pushed listing prices higher, with a May 2026 median list near $257K. Steady employment from La-Z-Boy, DTE and healthcare keeps well-priced homes turning. Named areas: Northeast Monroe, South Monroe (Southeast), Southwest Monroe.
ZIP 48162, near $218,000
The 48162 ZIP carries a median sale price near $218,000 as of mid-2026 (Redfin logged roughly $217,870 in May, while Zillow's typical citywide value sits closer to $203,000). Year-over-year appreciation has been measured anywhere from about +1.7% on Zillow's typical-value basis to +8.9% (and a +14.5% spike in March) on Redfin's median-sale basis, call it solid single-to-low-double-digit growth. Homes have been moving fast, averaging around 29 days on market in the ZIP versus about 34 days citywide, with a sale-to-list ratio near 100.7%. Demand is driven by the Detroit-Toledo commuter corridor and Monroe's relatively affordable price point. Named areas: Mason Run, Orchard East, Frenchtown Township / Detroit Beach.
Where to look
Monroe neighborhoods
Northeast Monroe
$130,000-$250,000. Late-1800s/early-1900s historic homes close to the River Raisin Heritage Trail.
South Monroe (Southeast)
$100,000-$245,000. The most affordable pocket: 1920s-1950s bungalows, ranches and Cape Cods on gridded streets near Hellenberg Park.
Southwest Monroe
$140,000-$300,000. A mix of 1950s ranches and Victorians, close to major employers plus Hoffman and Father Cairns parks.
Newer Craftsman/traditional subdivisions
$350,000-$525,000. Newer-construction modern Craftsman and traditional homes on the city's edges.
Mason Run
(~$160,000-$260,000): a walkable community of about 250 single-family homes along the River Raisin by Infinity Homes, with ranch and colonial plans from 1,528-2,020 sq ft; recent resales averaged near $161,750, new builds higher. Feeds Monroe Public Schools.
Orchard East
(~$120,000-$200,000): an established east-side neighborhood with its own City of Monroe neighborhood plan and older, entry-level housing stock.
Frenchtown Township / Detroit Beach
(~$150,000-$400,000): subdivisions and lakefront/canal homes toward Lake Erie, more spread-out and recreation-oriented.
Northwest Monroe / Raisinville Estates area
(~$170,000-$300,000): newer subdivisions on larger lots.
Schools and commute
Michigan property taxes
Monroe property taxes after you buy
The year after a Michigan home sells, its taxable value resets to half of the assessor's market value, so the seller's tax bill is not your tax bill.
In the City of Monroe, our 2026 Uncapping Study found taxable value typically rises about 43% the year after a sale: roughly $1,940 more in first-year tax on a $300,000 home at the local homestead millage. We build your payment on that post-sale number.
In Samantha's words
In Michigan, don't just look at the current tax bill. Understand what could happen after ownership changes.
Local resources
Check Monroe records yourself
The official offices behind the tax and school details on this page.
- City of Monroe Assessor, for parcel records and current taxable value
- Monroe Public Schools, for district boundaries and enrollment
- Monroe County Equalization, for county property tax records
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Monroe mortgage questions
If yours is not here, ask it on the call. There are no dumb questions.
What is the median home price in Monroe, MI 48161?
The typical home value in ZIP 48161 is around $202,000-$212,000 as of 2026. Zillow puts Monroe’s typical value near $202,800, while Redfin reported a March 2026 median sale price of about $212K. Listing prices have run higher, with a May 2026 median list price around $257K, reflecting tight inventory.
How fast are homes selling in Monroe?
Homes in the city of Monroe sold in about 34 days on market as of early 2026, slightly faster than the 37 days a year earlier. The broader Monroe County market moves even quicker at roughly 17 days, so well-priced homes in 48161 tend to go under contract within about a month.
What are property taxes like in Monroe, MI?
The effective property tax rate in the city of Monroe is about 1.29%, above the Michigan median of 1.05%. Monroe County’s median effective rate is around 1.21%, with a median annual tax bill near $2,179. Exact bills depend on the certified millage for your taxing jurisdiction and school district, set in the county’s annual Apportionment Report.
What income do I need to buy a home in Monroe?
To afford a roughly $210,000 median home with about 10% down at current rates, you’d want a household income in the neighborhood of $65,000 – close to Monroe’s median household income of about $59,800. That makes the typical home reasonably attainable for local buyers, and first-time buyers may qualify with less using MSHDA down-payment assistance and FHA financing.
What neighborhoods or subdivisions should first-time buyers look at in Monroe?
Mason Run is a popular walkable, newer community along the River Raisin (recent sales averaged about $161,750, new construction higher) and feeds Monroe Public Schools. Established neighborhoods like Orchard East and northwest-side subdivisions offer entry-level options, while historic downtown and Frenchtown/Detroit Beach near Lake Erie span a wider price range up into the $400,000s for larger or waterfront homes.
What drives the Monroe economy and who are the big employers?
Monroe’s economy is anchored by La-Z-Boy’s global headquarters, DTE Energy’s Fermi 2 nuclear and Monroe power plants (the city’s largest taxpayer), ProMedica Monroe Regional Hospital, Monroe Public Schools, the Mall of Monroe and county government. Its spot on I-75 midway between Detroit (~38 miles north) and Toledo (~20 miles south) gives residents access to two metro job markets.
Is Monroe a good place to buy if I commute to Detroit or Toledo?
Yes, Monroe sits right on I-75 about 38 miles (40-50 minutes) south of downtown Detroit and only about 20 miles north of Toledo, so buyers can access both metro job markets while paying southeast-Michigan small-city prices. Local anchors like La-Z-Boy’s headquarters, DTE’s Fermi 2 plant, and ProMedica Monroe Regional Hospital also provide jobs close to home.
Communities near Monroe
Monroe County overviewTalk with a local mortgage expert
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Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. Figures on this page are market research for orientation, not a quote. This page is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit.
