Measured against area pay, Carleton costs less to live in than 78% of U.S. towns
Up 7.4% in a year, 27% above the Michigan typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Monroe, MI metro area ($77K). How TownRatings grades cost of living
Only 3 sales in September 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across the Monroe metro earn ($77K, Census 2020–24). The typical home costs 2.7 years of metro income, and 15% of renters pay 30% or more of income for housing.
In dollars
- $334Ktypical home, 27% above the Michigan typical homeZillow, September 2026
- $1,340a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 93prices across the Monroe metro, where the U.S. is 100 (housing 75)BEA Regional Price Parities, 2024
In paychecks the grade
- 2.7 yrsof area income buys the typical home; the typical U.S. town: 3.3$77K, Monroe-area income
- 15%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 18%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Carleton?
Read from the numbers below. The page puts what stands out first.
What’s behind Carleton’s grade
Measured against what households in the area earn, Carleton is more affordable than 78% of U.S. towns. Property tax pulls the grade down most; rent holds it up.
Prices here have kept pace with Michigan: up 29.1% in five years, against 24.4% statewide (Zillow).
Up 7.4% in a year
Faster than Michigan (3.8%).
Show as a table
| January | Carleton | Michigan |
|---|---|---|
| 2017 | $186,000 | $142,000 |
| 2018 | $194,000 | $153,000 |
| 2019 | $209,000 | $164,000 |
| 2020 | $219,000 | $173,000 |
| 2021 | $244,000 | $192,000 |
| 2022 | $263,000 | $215,000 |
| 2023 | $278,000 | $228,000 |
| 2024 | $289,000 | $238,000 |
| 2025 | $301,000 | $250,000 |
| 2026 | $321,000 | $259,000 |
| September 2026 | $334,000 | $264,000 |
A typical Carleton home worth $184K in October 2016 is worth about $334K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A typical home costs 2.7 years of area income
The calculator starts from the area income the grade uses. Switch to Carleton’s own median, or type yours.
That’s $49K short of a typical Carleton home.
A two-bedroom rents for about $1,340 a month here, $770 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Carleton’s typical property tax (1.28% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,340
Renters already here pay a median of $944, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Detroit-Warren-Livonia, MI HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
4 new homes permitted in 2025
Builders were permitted 4 new homes in Carleton in 2025, all single-family houses, worth about $1.4 million to build. That's 1.5 per 1,000 residents, slower than across Michigan (2.3). Over the past 10 years, Carleton has permitted 32 homes in all.
Between the 2010 and 2020 censuses, Carleton's population fell by 19 even though 44 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Michigan: 1.2 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 4 | 4 | 0 | $1.4 million |
| 2025 | 4 | 4 | 0 | $1.4 million |
| 2024 | 4 | 4 | 0 | $1.4 million |
| 2023 | 3 | 3 | 0 | $700,000 |
| 2022 | 3 | 3 | 0 | $700,000 |
| 2021 | 3 | 3 | 0 | $700,000 |
| 2020 | 3 | 3 | 0 | $700,000 |
| 2019 | 3 | 3 | 0 | $700,000 |
| 2018 | 3 | 3 | 0 | $700,000 |
| 2017 | 3 | 3 | 0 | $700,000 |
| 2016 | 3 | 3 | 0 | $700,000 |
| 2015 | 7 | 7 | 0 | $1.3 million |
| 2014 | 6 | 6 | 0 | $1.1 million |
| 2013 | 6 | 6 | 0 | $1.1 million |
| 2012 | 4 | 4 | 0 | $580,000 |
| 2011 | 4 | 4 | 0 | $532,000 |
| 2010 | 5 | 5 | 0 | $644,000 |
| 2009 | 3 | 3 | 0 | $350,000 |
| 2008 | 5 | 5 | 0 | $679,000 |
| 2007 | 47 | 2 | 45 | $1.8 million |
| 2006 | 52 | 2 | 50 | $2 million |
| 2005 | 53 | 3 | 50 | $2.1 million |
| 2004 | 52 | 3 | 49 | $2.1 million |
| 2003 | 64 | 1 | 63 | $2.4 million |
| 2002 | 88 | 5 | 83 | $3.5 million |
| 2001 | 85 | 4 | 81 | $3.3 million |
| 2000 | 83 | 6 | 77 | $3.4 million |
Carleton's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Low tax bills, but a high tax rate
The median bill is $2,652, under the Michigan median of $2,904, because homes cost less. As a share of value it’s 1.28% a year, against 1.25% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Carleton
Only figures published free for the whole country, each labeled with the area it covers: the Monroe, MI metro area, or Michigan. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 93 | MI 96 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 94 | MI 96 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 94 | MI 100 | metro | BEA, 2024 |
| Other services U.S. = 100 | 100 | MI 101 | metro | BEA, 2024 |
| Electricity cents per kWh, homes | 23.1¢ | U.S. 18.3¢ | state | EIA, July 2026 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Carleton and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Carleton | A− | $334K | $207K | 1.28% | $1,340 |
Questions about the cost of living in Carleton
Is Carleton expensive to live in?
Measured against what households in the area earn, Carleton costs less than 78% of U.S. towns: an A− for cost of living. The typical home costs 2.7 years of the median household income of the Monroe, MI metro area ($77K).
How much does a house cost in Carleton?
About $334K, Zillow’s typical value for September 2026, up 7.4% in a year. The Michigan typical home is $264K.
What salary do you need to live in Carleton?
To buy the typical home with 20% down at 6.3%, about $90,000 a year, keeping the payment (about $2,110 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $54,000.
How much is rent in Carleton?
HUD puts a two-bedroom at about $1,340 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $944 (Census 2020–24).
What are property taxes in Carleton?
The median bill is $2,652 a year, 1.28% of the median home value (Michigan: $2,904, 1.25%), from the Census 2020–24.
Are home prices in Carleton going up?
Yes: up 7.4% in the past year and 29.1% in five years, against 24.4% across Michigan (Zillow).
Neighbors talk housing
What Carleton buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.