Market Overview
Home Prices in Monrovia, IN
The median home value in Monrovia, IN is $307,940 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.4% compared to a year ago and up 3.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Monrovia are priced25% below average. Monrovia is part of the Indianapolis-Carmel-Anderson, IN metro area.
Over the past five years, Monrovia home values have risen by approximately27.6%, reflecting strong long-term appreciation in this market.
Price History
Monrovia Home Price Trend
City Comparison
Monrovia vs. National Median
At $307,940, homes in Monrovia cost 25% below the national median of $410,000. This makes Monrovia a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Monrovia?
20% Down Payment
$61,588
on $307,940
Monthly P&I
$1,606/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,040/mo
incl. taxes & insurance
Income Needed
$81,600
gross annual (30% rule)
10% Down Option
$30,794
+ PMI applies
Loan Amount (20% dn)
$246,352
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 Monrovia, IN?
The median home value in Monrovia is $307,940 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.4% year-over-year.
How much have home prices changed in Monrovia?
Over the past year, home values in Monrovia have increased by 0.4%. Over five years, prices have risen approximately 27.6%.
How much do I need to earn to buy a home in Monrovia?
To comfortably afford the median home price of $307,940 with a 20% down payment ($61,588) at today's rates (6.8%), you'd need a gross annual income of approximately $81,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Monrovia compare to the national average home price?
The national median home value is approximately $410,000. At $307,940, homes in Monrovia are 25% below the national average.
What metro area is Monrovia part of?
Monrovia is part of the Indianapolis-Carmel-Anderson, IN metropolitan area. Home prices and market conditions can vary across the broader metro region.