States › North Carolina › Monroe

Is Monroe, NC expensive to live in?

CheapRent takes 20 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,28127% lower than U.S. average
💵 Families earn per year (2026)$78,234about $6,520/month · 10% lower than U.S. average
🔑 House price$309,1007% lower than U.S. average

Rent is lower than in 70% of U.S. cities. A typical house costs about 4.0 years of household income. Commutes are long, about 30.1 minutes each way.

How much money do I need?

To rent here comfortably, you should earn about $51,240 a year. That is $25 an hour at a full-time job.

Is rent cheaper than other North Carolina cities?

Yes. Rent here is cheaper than in most of North Carolina. It is number 57 of 164 cities from cheapest to most expensive.

Monroe
$1,281
Salisbury
$1,316
Garner
$1,674
Goldsboro
$1,383
Fuquay-Varina
$2,293
Cornelius
$1,911
New Bern
$1,326

How much do households earn in Monroe?

Under $25k
12.8%
$25k–50k
25.8%
$50k–100k
33.7%
$100k–150k
15.3%
$150k+
7.6%

Share of households by yearly income. 22.9% of households earn $100,000 or more.

Rent by apartment size in Monroe

SizeMonroeU.S. average
Studio$896$1,338
1 bedroom$955$1,324
2 bedrooms$1,218$1,509
3 bedrooms$1,664$1,698
4 bedrooms$2,035$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Monroe overall?

Everyday prices in North Carolina overall are 6% below the U.S. average (index 94.3, U.S. = 100).

Housing
81
Goods (food, clothes…)
97
Utilities
89
Other services
98
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Monroe, so the North Carolina figure is shown.

Taxes and bills in Monroe

🏛️ Property tax$1,994a year · 0.65% of home value · U.S. $3,119
⚡ Electric bill$210a month (typical) · U.S. $156

Life in Monroe

Commute to work30.1 minU.S.: 26.4 min
College degree24.1%U.S.: 35.7%
Own their home61.6%U.S.: 65.2%
Below poverty line13.3%U.S.: 12.5%
Unemployment4.6%U.S.: 5.2%

Is it cheaper to rent or buy in Monroe?

Renting is cheaper right now: about $864 a month less.

Renting
$1,281
Owning
$2,145

Owning assumes a typical $309,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,910 for the down payment.

Frequently asked questions

What is the average rent in Monroe, NC?

Renting in Monroe costs a median of about $1,281 a month in 2026, including utilities. The North Carolina median is $1,496.

How much do I need to make to live in Monroe?

To keep rent under 30% of income, you need about $51,240 a year, or $25 an hour at a full-time job.

Is Monroe cheap or expensive?

Monroe is rated Cheap: rent takes 19.6% of the typical household income of $78,234. It ranks 57th cheapest of 164 North Carolina cities we track.

How much are property taxes in Monroe?

The median homeowner in Monroe pays $1,994 a year in property taxes, about 0.65% of the median home value.

Is Monroe more expensive than the national average?

Overall prices in North Carolina are 6% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Monroe?

The median home value in Monroe is $309,100, about 4.0 times the typical yearly household income.

36,759 people live in Monroe. Numbers are typical (middle) values.