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West Monroe

Learn about the people, housing, costs and businesses in West Monroe, Michigan

Median Home$152,100
Median Rent$850/month
Population2,992
Leading IndustriesRetail · Education19% retail
Home Value Growth⬆⬆⬆+27.7% over 2 years
Retirees21% of residentsnear the national average
Homeowners91% of occupied units
NotableVeteran Community9% of residents · top 22% nationally
West Monroe
MI

Frequently Asked Questions

What are today's mortgage rates in West Monroe?

As of today, the 30-year fixed mortgage rate for West Monroe is approximately 6.992% (7.032% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in West Monroe?

The median home value in West Monroe is $152k. The median monthly rent is $850. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in West Monroe?

Home values in West Monroe have increased 27.7% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in West Monroe?

Based on a typical all-in ownership cost of $998/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $43k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in West Monroe is $56k/year.

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What industries drive the economy in West Monroe?

The largest employment sectors in West Monroe are public administration (25%) and retail (19%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.