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 $171,627, lower than the Minnesota average of $269,934.
The average cost of rent is $741/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. While nearly 44.92% of residents own their homes outright in Melrose, 22.56% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $4,661 per month. Households that rent pay about 15.89% of their income on rent here. Melrose's most expensive areas are in the northwestern regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Meire Grove, MN: higher priced homes
- New Munich, MN: equally priced homes
- Greenwald, MN: higher priced homes
- St. Rosa, MN: higher priced homes
- Ward Springs, MN: higher priced homes
- Freeport, MN: higher priced homes
- Sauk Centre, MN: higher priced homes
- Grey Eagle, MN: higher priced homes
- Elrosa, MN: higher priced homes
- Spring Hill, MN: higher priced homes
Cities with Similar Populations
- Springfield, KY: less expensive homes
- Spring Arbor, MI: equally priced homes
- Hutchins, TX: less expensive homes
- Spring Valley, IL: less expensive homes
- Hurstbourne, KY: higher priced homes
- Hurlock, MD: less expensive homes
- Hurdle Mills, NC: higher priced homes
- Huntsville, AR: less expensive homes
- Hunters Creek Village, TX: higher priced homes
- Humboldt, IA: less expensive homes
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