$700
Total Monthly Price
- 1 Bed
- 1 Bath
- 600 Sq Ft
- Condo for Rent
902 N Telegraph Rd Unit 902, Monroe, MI 48162
Frequently Asked Questions
How much does it cost to rent a condo in Monroe, MI?
The median rent for a condo in Monroe, MI is $988 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Monroe, MI?
To comfortably afford the median rent in Monroe, MI, a household needs to earn roughly $41,400 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,035 per month in Monroe, MI, renters typically need to show $3,105 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Monroe, MI?
In Monroe, MI, the price-to-rent ratio is 18.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Monroe, MI are best for renting a condo?
The best neighborhood for renting in Monroe, MI depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Northwest Monroe, DeVeaux, Scott Park, Five Points and Whitmer-Trilby, each with its own character and price range.
