How much does it cost to rent in Monroe, NC?

As of July 2026, the median monthly rent in Monroe, NC is $1,934. This figure is based on aggregated data from public sources and community-submitted rents.

Is Monroe cheaper than other North Carolina cities?

Monroe is one of the pricier cities in North Carolina, ranking #23 out of 126 cities tracked at $1,934/mo.

When was Monroe rent data last updated?

Monroe rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · NC

Monroe

Name: Average Rent Prices in Monroe, NC
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 36,759·23rd most expensive in North Carolina·Rental market data updated monthly for Monroe, NC

Median rent (all units)

$1,934/mo

Year-over-Year

-2.6%

Month-over-Month

-1.8%

vs US Median

-$31

Falling (Monthly)

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Most AffordableMost Expensive

Monroe · $1,934

More expensive than 55% of US cities · National median $1,965/mo

Rent Reality Score

72/100

Good value

OverheatedFairGreat value

Rents are 11% below what Monroe's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,934/mo

Expected by trend

$2,174/mo

The Rent Reality Score compares today's median rent to where Monroe's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,340

1 BR

$1,395

2 BR

$1,540

3 BR

$1,895

4 BR+

$2,405

Research median

$1,540/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost

$23,208/yr

At $1,934/mo median

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 2.6% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-2.6% YoY, -1.8% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Monroe, NC is majority owner-occupied, 24.1% of residents hold a bachelor's degree or higher.

Population

36,759

Median income

$72,540

Median age

35.5

Renters

38.4%

Age distribution

24.5%

24.7%

14.9%

Under 1824.5%

18–3424.7%

35–5424.7%

55–6411.1%

65+14.9%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

47.6%

19.7%

30.9%

White47.6%

Black19.7%

Hispanic30.9%

Asian1%

Other0.8%

Education (25+)

17.4%

27.8%

30.7%

24.1%

No HS diploma17.4%

HS diploma27.8%

Some college30.7%

Bachelor's+24.1%

Housing tenure

61.6%

38.4%

Owner61.6%

Renter38.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Monroe, NC has changed in 5 years

Rent

$1,507 → $1,934

up 28.3%

Income

$58,180 → $72,540

up 24.7%

Population

34,464 → 36,759

up 6.7%

Renter share

42.2% → 38.4%

-3.8 pts

Bachelor's+

19.7% → 24.1%

+4.4 pts

Across the past five years, the going rent in Monroe, NC has shifted from $1,507 to $1,934, up 28.3% since 2021. Census figures show median household income at $72,540 today, compared with $58,180 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Monroe, NC adding about 2,295 residents over the five-year window, up 6.7% on net. The renter share has eased from 42.2% to 38.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 19.7% to 24.1% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

Discussions about Monroe

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View Monroe rent history (2015–2026) →

Salary vs rent

Can you afford rent in Monroe on your salary?

At $1,934/mo, how Monroe rent compares to typical pay (30% rule).

Registered Nurse

Avg $88,811/yr · Rent = 26.1% income

affordable

Elementary School Teacher

Avg $63,055/yr · Rent = 36.8% income

stretched

Police Officer

Avg $72,634/yr · Rent = 32% income

stretched

Software Developer

Avg $129,823/yr · Rent = 17.9% income

very comfortable

Lawyer

Avg $165,882/yr · Rent = 14% income

very comfortable

Firefighter

Avg $59,041/yr · Rent = 39.3% income

stretched

Truck Driver

Avg $53,307/yr · Rent = 43.5% income

rent-burdened

Electrician

Avg $65,706/yr · Rent = 35.3% income

stretched

By apartment size

Monroe rent by bedroom count

Median rent for each apartment size in Monroe. Click any size for full breakdown.

Local insights

Tips for renters in Monroe

About renting in Monroe, NC

Last updated: July 20, 2026

The median rent in Monroe is $1,934/mo as of July 2026. A studio apartment averages $1,340/mo while a 2-bedroom runs $1,540/mo. One-bedroom apartments average $1,395/mo and 3-bedroom units go for $1,895/mo.

At 32% of local median household income ($72,540/yr), Monroe ranks as moderate compared to the national benchmark of 30%. Rents have decreased 2.6% over the past year.

FAQ

Frequently asked questions

Is Monroe an affordable city for renters?

Monroe is considered moderate for renters. At $1,934/mo, rent takes approximately 32% of the local median household income ($72,540/yr). The standard benchmark is 30%. Monroe slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Monroe?

To keep rent at or below 30% of gross income, you would need to earn at least $77,000/year (~$37/hour full-time) to afford the median rent of $1,934/mo in Monroe. The local median household income is $72,540/yr, meaning the typical Monroe household falls short of that threshold.

Is rent going up or down in Monroe?

Rent in Monroe has decreased 2.6% over the past year as of July 2026, offering some relief compared to 12 months ago.

Which Monroe neighborhoods have the lowest rent?

The most affordable ZIP codes in Monroe are 28110 ($1,981/mo), and 28112 ($2,056/mo). Citywide, the median rent in Monroe is $1,934/mo.

How does Monroe rent compare to other cities in North Carolina?

Monroe is one of the pricier cities in North Carolina for rent, ranking #23 out of 126 tracked cities at $1,934/mo.

Which nearby cities are cheaper to rent in than Monroe?

Several nearby cities have lower median rents than Monroe ($1,934/mo): Matthews ($1,756/mo), Mint Hill ($1,873/mo).

What percentage of Monroe residents rent vs. own?

According to Census data, approximately 38.4% of Monroe households are renters, while 61.6% are owner-occupied. Monroe leans toward homeownership, which can mean a smaller rental inventory.

How does Monroe rent compare to the national average?

Monroe's median rent of $1,934/mo is $31 (2%) below the US national median of $1,965/mo. Within North Carolina, it ranks #23 out of 126 tracked cities.

Income Affordability

32%

MODERATE

At $1,934/mo, rent takes ~32% of Monroe's median household income ($72,540/yr). The standard benchmark is 30%.

Monroe 32%Benchmark 30%

State income tax4.5%

Run the Monroe affordability calculator →

Nearby cities