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Monroe County, IN

RANK #519 / 996  ·  POP 140,065  ·  IN

PROJECTED GROWTH: +0.7%

Monroe County shows below-average economic momentum. Growth signals are flat or softening.

[01] Why Monroe County?

Monroe County, Indiana, is often recognized for Bloomington, home to Indiana University, a prominent academic institution. Located in south-central Indiana, about 50 miles south of Indianapolis, the county offers a blend of urban amenities and natural scenery. Commutes within Bloomington average around 16 minutes, shorter than the national average. The community has a college-town atmosphere in Bloomington, while towns like Ellettsville and Stinesville offer a small-town feel. Outdoor recreation is a draw, with Monroe Lake, Indiana's largest lake, providing opportunities for boating, fishing, and swimming. Numerous parks and nature preserves, including Griffy Lake and Charles C. Deam Wilderness, offer hiking and other activities.

Monroe County attracts a diverse population, including families and retirees, though it sees more retirees than working-age individuals. The economy is influenced by higher education, particularly Indiana University, which is a major employer. While the higher education sector has faced recent challenges, the private business sector has shown growth, particularly in areas like life sciences and advanced manufacturing. Tourism also contributes to the local economy, with visitors drawn to the county's cultural amenities and outdoor recreation. The Monroe County Community School Corporation and Richland-Bean Blossom Community School Corporation serve the area, with public schools generally receiving high ratings.

[02] Market Snapshot

Housing Ratio
4.5x

Below national median (4.7x)

GDP Growth
+2.0%

Below national median

Home Prices
+2.0%

Above national median

Climate & Terrain
0.3

Moderate climate & terrain

Price/Rent
14x

Above national median (13x)

Housing is fairly valued at 4.5x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Monroe County U.S. National

The Numbers

DEMOGRAPHICS
Population
140,065
-0.09% YoY
Median Household Income
$60,308
Median Home Value
$240,600
+2.01% 12mo
Median Rent
$1,105
Average Annual Pay
$58,879
+4.4% YoY
Employment
67,215
+0.2% YoY
Income-to-Home-Value
0.2507
More affordable than average
Migration Inflow
7.53%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$306,500
Days on Market
90
Slower market
Months of Supply
7.1
Buyer's market
Sale-to-List Ratio
97.3%
Negotiation room for buyers
Sold Above List
15.1%
Listings w/ Price Drops
16.5%
Building Permits (2024)
872
Single-Family Permits
185

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$986M
TOTAL
PROJECT AMOUNT STATUS
Simtra BioPharma Solutions Expansion
Simtra BioPharma Solutions
$580M Under Construction
Catalent Investment
Catalent
$350M Operating
Phoenix (Packaging Company) Investment
Phoenix
$56M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +2.0% 36 percentile
Population Growth -0.1% 25 percentile
Income Growth +11.5% 93 percentile
Vacancy Rate 1.7% 16 percentile
Home Price Change +2.0% 59 percentile
Rent Growth +2.5% 41 percentile
Price/Rent 14x 49 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Monroe County, IN a good place to move to?

Monroe County has a Boom Town Index score of 48/100, ranking #519 among 996 U.S. counties. With job growth at +0.2% and a median household income of $60,308, it faces some economic headwinds compared to faster-growing counties.

Is Monroe County affordable?

The median home value in Monroe County is $240,600 with median rent at $1,105/month. The income-to-home-value ratio is 0.2507, which is more affordable than the national average.

Is Monroe County growing or shrinking?

Population growth: -0.1% year-over-year. Job growth: +0.2%. Home values changed +2.0% in the past 12 months.

Are people moving to Monroe County?

Yes — 7.53% of Monroe County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Worcester County, MA 58 Craven County, NC 58 Rutherford County, NC 58 Orangeburg County, SC 58 Jefferson County, TN 58 Gibson County, TN 58 Albemarle County, VA 58 Berks County, PA 58