CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



The Board of Directors
Monmouth Real Estate Investment Corporation:

We consent to incorporation by reference in the registration
statements on Form S-8 (File No. 333-100805), Form S-3 (File
No.  333-103216 and No. 333-113547) and Form S-3D (File  No.
333-110737)  of Monmouth Real Estate Investment  Corporation
of  our  report  dated  December 3, 2004,  relating  to  the
consolidated   balance  sheets  of  Monmouth   Real   Estate
Investment  Corporation and subsidiary as of  September  30,
2004  and  2003  and the related consolidated statements  of
income, shareholders' equity, and cash flows for each of the
years in the three-year period ended September 30, 2004, and
the  related schedule, which report appears in the September
30,  2004 Annual Report on Form 10-K of Monmouth Real Estate
Investment Corporation.


                              /s/ KPMG LLP


Short Hills, New Jersey
December 10, 2004