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Affordable
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These days, finding an affordable place to live in the Melby area can be challenging. Home prices in Melby are now at a median cost of $301,831, lower than the Minnesota average of $345,793.
The average cost of rent is $967/mo in Melby, primarily driven by the current value of real estate in the Melby area. In Melby, 12.28% of households rent, and 49.37% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melby is $6,761 per month. Households that rent pay about 14.30% of their income on rent here. Melby’s most expensive areas are in the northern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Ashby, MN: less expensive homes
- Evansville, MN: less expensive homes
- Millerville, MN: equally priced homes
- Erdahl, MN: less expensive homes
- Urbank, MN: higher priced homes
- Brandon, MN: less expensive homes
- Dalton, MN: equally priced homes
- Clitherall, MN: higher priced homes
- Leaf Valley, MN: higher priced homes
- Garfield, MN: equally priced homes
Cities with Similar Populations
- Nichols, FL: less expensive homes
- Nassau Village, FL: higher priced homes
- Neosheo, KY: less expensive homes
- Nesco, NJ: higher priced homes
- New Burnside, IL: less expensive homes
- New Market, MN: higher priced homes
- New Pittsburg, OH: less expensive homes
- New Taiton, TX: less expensive homes
- Newdale, WV: less expensive homes
- Newton, WV: less expensive homes
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