Housing costs in Monroe?
A typical home costs
$182,900, which is 45.9% less expensive than the national average of
$338,100 and 16.4% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Monroe costs
$1,010 per month, which is 29.4% cheaper than the national average of
$1,430 and 8.9% cheaper than the state average of
$1,100.
Can I afford Monroe?
To live comfortably in Monroe (zip 48161), Michigan, a minimum annual income of
$34,920 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Monroe?
The cost of living in Monroe, MI (48161) is slightly higher than the national average. According to Sperling’s Best Places, the overall cost of living index in Monroe is 106, which is 6% higher than the US average. The housing market specifically is 12% higher than the rest of the country with a median home price of $180,100. Groceries are more expensive too - 8% more expensive than the national average. However, utilities are only 2% higher and healthcare expenses are 9% lower than elsewhere in the US. All this said, it's still possible to live comfortably in Monroe provided you have a good job and plan your budget carefully.