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These days, finding an affordable place to live in the Melbourne Village area can be challenging. Home prices in Melbourne Village are now at a median cost of $390,800, lower than the Florida average of $396,783.
The average cost of rent is $1,385/mo in Melbourne Village, primarily driven by the current value of real estate in the Melbourne Village area. In Melbourne Village, 25.49% of households rent, and 55.04% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melbourne Village is $8,179 per month. Households that rent pay about 16.93% of their income on rent here. Melbourne Village’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- West Melbourne, FL: less expensive homes
- Melbourne, FL: less expensive homes
- Indialantic, FL: higher priced homes
- Indian Harbour Beach, FL: higher priced homes
- Palm Bay, FL: less expensive homes
- Palm Shores, FL: equally priced homes
- Satellite Beach, FL: higher priced homes
- Malabar, FL: higher priced homes
- Melbourne Beach, FL: higher priced homes
- Grant-Valkaria, FL: higher priced homes
Cities with Similar Populations
- Lowell, WI: less expensive homes
- Ontario on the Lake, NY: less expensive homes
- Oakfield, ME: less expensive homes
- Moscow, TX: less expensive homes
- Menola, NC: less expensive homes
- Menlo, IA: less expensive homes
- Mc Intosh, NM: less expensive homes
- Mascoma, NH: less expensive homes
- Magenta, MS: less expensive homes
- Luther, IA: equally priced homes
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