Housing costs in Monroe?
A typical home costs
$185,700, which is 45.1% less expensive than the national average of
$338,100 and 15.1% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Monroe costs
$990 per month, which is 30.8% cheaper than the national average of
$1,430 and 11.1% cheaper than the state average of
$1,100.
Can I afford Monroe?
To live comfortably in Monroe (zip 48162), Michigan, a minimum annual income of
$35,640 for a family, and
$30,000 for a single person is recommended.
What does A.I. say about Monroe?
Living in 48162 Monroe, MI is quite affordable. The median home price is around $126,000, which is significantly lower than the national average of over $200,000. Groceries and other necessities are also relatively inexpensive. The cost of living index for this area is around 79.5, which is slightly below the U.S. average of 100. Transportation costs are also reasonable as the city offers public transportation services, bike trails and walking paths throughout the city. Overall, living in 48162 Monroe, MI is an economical choice for those looking to save money while still having access to all that a large city has to offer.