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Example household · $83,730 · same pay · 1 adult

Monroe

Housing in Monroe, MI: Rent, Home Prices & Property Tax

$2,408 left/mo

$940/mo (1 bd) in Monroe. Median home $215,700. Property tax 1.16%.

Pick a home cityHow we figure this
Rent (1-bedroom)
$940
/mo
Buy
$1,582
Mortgage, tax, insurance
Buying costs more
$642
/mo

To buy

  • 20% down payment$43,140
  • Mortgage at 7.24%$1,176
  • Property tax (1.16% of value)$209/mo · $2,502/yr
  • Insurance and upkeep$198
  • Monthly total$1,582

Months to 20% down

$2,408 left each month. About 18 months (1.5 years) to save $43,140.

Rent is Zillow asking rent. The price is the Census median home value. The mortgage is a 30-year fixed at 7.24%, the Freddie Mac PMMS average for the week of Oct 29, 2026, with 20% down.

Guide: state tax and rent when you compare cities

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