Over the past decade, Monroe's population has remained relatively stable, fluctuating between 1,900 and 2,000 residents. The median income has shown a general upward trend, increasing from $56,243 in 2013 to $66,564 in 2022, with a peak of $85,773 in 2021. This overall increase in median income might suggest a reduced need for additional affordable housing units in recent years.

The racial composition of Monroe has remained predominantly white, consistently accounting for around 98% of the population throughout the last decade. The city has maintained a small but consistent presence of residents identifying as two or more races, typically around 1% of the population.

Monroe's LIHTC funded affordable housing inventory consists of a single project, Gateway Apts, which has been serving the community since 1999. The 12 low-income units represent a small portion of the city's estimated housing stock. The city's stable population, increasing median income, and consistent racial composition over the past decade suggest a relatively steady demand for affordable housing. The long-standing presence of the Gateway Apts project demonstrates the city's commitment to maintaining affordable housing options for its residents.