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Affordable
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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 $183,683, lower than the Alabama average of $228,911.
The average cost of rent is $543/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. In Melrose, 13.17% of households rent, and 86.33% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $4,166 per month. Households that rent pay about 13.04% of their income on rent here. Melrose’s most expensive areas are in the central regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Stansel, AL: less expensive homes
- Reform, AL: less expensive homes
- Ethelsville, AL: equally priced homes
- Carrollton, AL: less expensive homes
- Palmetto, AL: less expensive homes
- Sapps, AL: less expensive homes
- Pickensville, AL: less expensive homes
- Zion, AL: less expensive homes
- Pleasant Grove Estates, AL: less expensive homes
- Gordo, AL: less expensive homes
Cities with Similar Populations
- Agenda, KS: less expensive homes
- Bingham, NE: less expensive homes
- Biddle, MT: higher 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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