Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Melrose area can be challenging. Home prices in Melrose are now at a median cost of $127,779, lower than the Alabama average of $185,232.
The average cost of rent is $769/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. While nearly 79.65% of residents own their homes outright in Melrose, 15.97% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $3,233 per month. Households that rent pay about 23.78% of their income on rent here. Melrose's most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Stansel, AL: less expensive homes
- Reform, AL: less expensive homes
- Ethelsville, AL: higher priced homes
- Carrollton, AL: less expensive homes
- Palmetto, AL: less expensive homes
- Sapps, AL: less expensive homes
- Pickensville, AL: equally priced homes
- Zion, AL: equally priced homes
- Pleasant Grove Estates, AL: less expensive homes
- Gordo, AL: equally priced homes
Cities with Similar Populations
- Agenda, KS: less expensive homes
- Bingham, NE: less expensive homes
- Biddle, MT: equally priced homes
- Womack, MO: higher priced homes
- Woodland Addition, IL: higher priced homes
- Youngsville, OH: higher priced homes
- Yukon, AR: less expensive homes
- Bantry, ND: less expensive homes
- Zander, WI: higher priced homes
- Banks, ID: higher priced homes
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