Market Overview
Home Prices in Monon, IN
The median home value in Monon, IN is $189,310 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.5% compared to a year ago and up 4.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Monon are priced54% below average. Monon is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Monon home values have risen by approximately30.6%, reflecting strong long-term appreciation in this market.
Price History
Monon Home Price Trend
City Comparison
Monon vs. National Median
At $189,310, homes in Monon cost 54% below the national median of $410,000. This makes Monon a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Monon?
20% Down Payment
$37,862
on $189,310
Monthly P&I
$987/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,253/mo
incl. taxes & insurance
Income Needed
$50,120
gross annual (30% rule)
10% Down Option
$18,931
+ PMI applies
Loan Amount (20% dn)
$151,448
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Monon, IN?
The median home value in Monon is $189,310 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.5% year-over-year.
How much have home prices changed in Monon?
Over the past year, home values in Monon have increased by 2.5%. Over five years, prices have risen approximately 30.6%.
How much do I need to earn to buy a home in Monon?
To comfortably afford the median home price of $189,310 with a 20% down payment ($37,862) at today's rates (6.8%), you'd need a gross annual income of approximately $50,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Monon compare to the national average home price?
The national median home value is approximately $410,000. At $189,310, homes in Monon are 54% below the national average.
What metro area is Monon part of?
Monon is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.