Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Melbourne area can be challenging. Home prices in Melbourne are now at a median cost of $72,151, lower than the Missouri average of $194,908.
The average cost of rent is $588/mo in Melbourne, primarily driven by the current value of real estate in the Melbourne area. While nearly 58.42% of residents own their homes outright in Melbourne, 22.27% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melbourne is $3,981 per month. Households that rent pay about 14.78% of their income on rent here. Melbourne's most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
- Brimson, MO: higher priced homes
- Gilman City, MO: equally priced homes
- Blue Ridge, MO: equally priced homes
- Edinburg, MO: higher priced homes
- Modena, MO: higher priced homes
- Mount Moriah, MO: higher priced homes
- Tindall, MO: higher priced homes
- Trenton, MO: higher priced homes
- Coffey, MO: higher priced homes
- Spickard, MO: higher priced homes
Cities with Similar Populations
- Blue Ridge, IN: higher priced homes
- Thomas Hill, MO: higher priced homes
- Bristol, CO: higher priced homes
- Thompson, MS: higher priced homes
- Thorn Hollow, OR: higher priced homes
- Thornburg, KS: less expensive homes
- Brand, VA: higher priced homes
- Boykin, AL: less expensive homes
- Boscawen, NH: higher priced homes
- Boden, OH: higher priced homes
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