Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 4,120 people, 1,707 houses or apartments, and a median cost of homes of $166,282, house prices in West Monroe are some of the most affordable in New York as well as the nation.
Single-family detached homes are the single most common housing type in West Monroe, accounting for 72.45% of the town's housing units. Other types of housing that are prevalent in West Monroe include mobile homes or trailers ( 20.78%), duplexes, homes converted to apartments or other small apartment buildings ( 4.07%), and a few large apartment complexes or high rise apartments ( 1.81%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Monroe. Owner-occupied housing accounts for 88.47% of West Monroe's homes, and 69.07% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in West Monroe built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in West Monroe built before 1939 ( 20.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.22%). There's also some housing in West Monroe built between 2000 and later ( 18.53%).
Appreciation rates for homes in West Monroe have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.57%, which ranks in the top 40% nationwide. This equates to an annual average West Monroe house appreciation rate of 7.21%.
Appreciation rates are so strong in West Monroe that despite a nationwide downturn in the housing market, West Monroe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Monroe appreciation rates continue to be some of the highest in America, at 12.96%, which is higher than appreciation rates in 99.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Monroe. West Monroe appreciation rates in the latest quarter were at 1.04%, which equates to an annual appreciation rate of 4.24%.
Relative to New York, our data show that West Monroe's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.
$166,282
for New york
for nation
1,707
$1,824 / per month