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 $435,073, higher than the Maryland average of $357,815.
The average cost of rent is $1,447/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. While nearly 29.41% of residents own their homes outright in Melrose, 2.88% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $8,690 per month. Households that rent pay about 16.65% of their income on rent here. Melrose's most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Nearby Cities
- Manchester, MD: less expensive homes
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- Westminster, MD: less expensive homes
- Rockville, PA: less expensive homes
- Upperco, MD: equally priced homes
- Freeland, MD: equally priced homes
Cities with Similar Populations
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- La Fayette, IL: less expensive homes
- Kyles Ford, TN: less expensive homes
- Knappa, OR: less expensive homes
- St. David, IL: less expensive homes
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