Quick facts: Old monroe, MO

Quick Facts

94.1
Cost of Living
below US average
263
Population
7.6
Crime Rate per 1000
below US average
$61,250
Median Income
below US average
$172,000
Median House Price
above US average
$1340
Average Rent
below US average
10%
Poverty Rate
below US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $61,250.

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Income Needed to Buy

βœ“ Affordable
$54k/year
Based on $172,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($61,250) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$57k/year
Based on $1340/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($61,250) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Old monroe, MO

Old Monroe is a small, charming town located in Lincoln County, Missouri, situated along the scenic banks of the Cuivre River. With a population of just over 700 residents, it's known for its tight-knit community and a slower pace of life, offering a peaceful retreat from urban hustle. The town's history is rich, with roots tracing back to the early 19th century, and you can experience its quaint charm through its historic buildings and local parks. The area boasts a mix of outdoor activities, especially fishing and boating on nearby waterways. Old Monroe is surrounded by beautiful, rolling landscapes and farmland, making it ideal for nature enthusiasts. The community hosts various local events and festivals, fostering a sense of unity among its residents. For amenities, residents often travel to nearby cities like Troy or Wentzville to access larger retail options and services. Old Monroe is also close to major highways, providing convenient access for those commuting to larger urban areas. Overall, it’s an idyllic spot for those seeking tranquility with a touch of rural Americana.

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