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 $68,297, lower than the Arkansas average of $160,541.
The average cost of rent is $607/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. While nearly 66.05% of residents own their homes outright in Melrose, 17.47% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $3,096 per month. Households that rent pay about 19.60% 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.
Nearby Cities
- Marcella, AR: higher priced homes
- Harmontown, AR: higher priced homes
- Locust Grove, AR: higher priced homes
- Concord, AR: higher priced homes
- St. James, AR: equally priced homes
- Drasco, AR: higher priced homes
- Limedale, AR: higher priced homes
- Desha, AR: higher priced homes
- Luber, AR: higher priced homes
- Cushman, AR: equally priced homes
Cities with Similar Populations
- Bingham Springs, OR: higher priced homes
- Telocaset, OR: higher priced homes
- Tellico Hills, TN: higher priced homes
- Tamarack, MI: higher priced homes
- Buckeystown, MD: higher priced homes
- Bryant, MS: equally priced homes
- Browns Hollow, NY: higher priced homes
- Blandville, WV: higher priced homes
- Blanco, PA: higher priced homes
- Black Fork, AR: higher priced homes
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