A tire pressure monitoring device and system includes a support or housing mounted to a rim of a wheel of a vehicle. A casing is movably secured to the support and a pair of spaced magnets are disposed within the casing. The casing is collapsible for varying the length of the casing in response to changes in the tire pressure to move the magnets relative to each other. A sensor is mounted a distance from the casing for sensing a presence of each of the magnets. A controller is in communication with the sensor to determine the length of the casing and the relative movement between the magnets to calculate any changes in tire pressure.