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 $267,600, lower than the Washington average of $453,663.
The average cost of rent is $861/mo in Melbourne, primarily driven by the current value of real estate in the Melbourne area. While nearly 50.00% of residents own their homes outright in Melbourne, 32.26% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melbourne is $3,958 per month. Households that rent pay about 21.75% of their income on rent here. Melbourne's most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Nearby Cities
- South Montesano, WA: higher priced homes
- Central Park, WA: less expensive homes
- Montesano, WA: less expensive homes
- Cosmopolis, WA: less expensive homes
- Junction City, WA: less expensive homes
- South Aberdeen, WA: less expensive homes
- Brady, WA: less expensive homes
- Aberdeen, WA: less expensive homes
- Vesta, WA: less expensive homes
- Aberdeen Gardens, WA: equally priced homes
Cities with Similar Populations
- Calvin, VA: less expensive homes
- White Signal, NM: less expensive homes
- White Lakes, NM: less expensive homes
- Wheelon, UT: equally priced homes
- Wheeling, LA: less expensive homes
- Wetmore, OR: less expensive homes
- Cherry Corner, PA: less expensive homes
- Charleys Branch, TN: less expensive homes
- Champ, MO: less expensive homes
- Catholic Point, AR: less expensive homes
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