Monroe, MI
- Overview
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Key Performance Metrics
Market snapshotPerformance indicators for the Monroe short-term rental market based on reliable data.
Listings
71 / 132
Reliable / Active
Cap Rate
13%
Middle-Earners Gross Yield
Revenue
$27,849
Middle-Earners Revenue
Occupancy
58%
Middle-Earners Occupancy
Home Value
$210,008
Median Home Sale Price
Top Earners
$57,315
Top-Earners Revenue
Monroe
Market Revenue Seasonality
Top Listings
Highest revenueThe highest-performing listings in Monroe.
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Generally Investor friendly
Monroe Regulations
STRs are legal but constrained by multi‑layer taxes (6% state use tax plus local lodging taxes), required $1M liability insurance, and pending state registration (LARA) with safety equipment mandates and platform fees. Michigan courts treat STRs as commercial uses in residential zones, creating zoning compliance risk, yet there are no explicit caps or bans and Monroe lacks a heavy local permit burden—so compliance is known and manageable for investors.
Local STR Agent
STR specialist · Monroe, MI
About Monroe
Monroe is the largest city and county seat of Monroe County, Michigan, United States. The population was 20,462 as of the 2020 census. The city is bordered on the south by Monroe Charter Township, but the two are administered autonomously. Monroe is the core city in the Monroe metropolitan area, which is coterminous with Monroe County and had a population of 154,809 in 2020. Located on the western shores of Lake Erie approximately 20 miles (32 km) northeast of Toledo, Ohio, and 40 miles (64 km) southwest of Detroit, the city is part of the Detroit–Ann Arbor–Flint combined statistical area. The Monroe area was the scene of several military conflicts during the War of 1812 against the United Kingdom and is known for the Battle of Frenchtown. In 1817, portions of the Frenchtown settlement along the River Raisin were platted and renamed "Monroe" after then-president James Monroe. When Michigan became a state in 1837, Monroe was incorporated as a city.Monroe is known as the childhood residence of George Armstrong Custer and other members of his family, including his brother Boston Custer and wife Elizabeth Bacon. Several structures are named after Custer, including Custer Airport. Founded in 1928, the La-Z-Boy world headquarters are located in Monroe.