Quick facts: Monroe, NC

Quick Facts

110.5
Cost of Living
above US average
36,018
Population
46.2
Crime Rate per 1000
above US average
$63,982
Median Income
below US average
$418,300
Median House Price
above US average
$2052.03
Average Rent
above US average
11%
Poverty Rate
above US average
3.9%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $63,982.

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Income Needed to Buy

βœ— Stretch
$131k/year
Based on $418,300 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $131k vs median $63,982
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Income Needed to Rent

⚠ Stretch
$88k/year
Based on $2052.03/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $88k vs median $63,982
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Monroe, NC

Monroe, North Carolina, located in Union County, is a vibrant city known for its rich history and growing community. It serves as the county seat and is part of the Charlotte metropolitan area. Monroe offers a unique blend of small-town charm and urban amenities, making it an attractive place for families and professionals alike. The city is home to a number of parks and recreational facilities, including the popular Monroe Aquatics and Fitness Center and various walking trails. Monroe's historical downtown area features quaint shops, restaurants, and a picturesque courthouse, offering a glimpse into the city's past. Monroe hosts several annual events, including the Union County Farmers Market, which showcases local produce and crafts, and the Monroe Christmas Parade, bringing the community together in celebration. The area is also known for its proximity to outdoor activities, including fishing, hiking, and biking in the beautiful natural surroundings. With a growing economy and a variety of educational opportunities, Monroe is an ideal location for those seeking a balanced lifestyle between work and leisure.

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