Housing costs in Monroe?
A typical home costs
$198,900, which is 41.2% less expensive than the national average of
$338,100 and 35.7% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Monroe costs
$810 per month, which is 43.4% more than the national average of
$1,430 and 53.1% more than the state average of
$1,240.
Can I afford Monroe?
To live comfortably in Monroe, Minnesota, a minimum annual income of
$38,160 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Monroe?
The cost of living in Monroe, MN is slightly higher than the national average. Goods and services are more expensive than other parts of the country due to the area's close proximity to Minneapolis. As with most cities, housing costs tend to be higher when living closer to downtown. However, there are a variety of homes available for purchase or rent at reasonable prices in Monroe. The median home value is around $200,000 and the median rent price is roughly $1,400 per month. Overall, the cost of living in Monroe can be somewhat high but is still well within the range of what one would expect for a city near a major metropolitan area.