Affordable
Expensive
Expensive
Colorblind friendly
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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 $691,109, higher than the Nashville average of $464,644.
The average cost of rent is $1,615/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. In Melrose, 52.68% of households rent, and 27.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $8,038 per month. Households that rent pay about 20.09% of their income on rent here. Melrose’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- Bellmont Hillsboro, Nashville, TN: higher priced homes
- Edgehill, Nashville, TN: higher priced homes
- Midtown-Nashville, Nashville, TN: less expensive homes
- Hillsboro West End, Nashville, TN: higher priced homes
- Southside, Nashville, TN: less expensive homes
- The Gulch, Nashville, TN: less expensive homes
- Vanderbilt-West End, Nashville, TN: higher priced homes
- Woodbine, Nashville, TN: less expensive homes
- Green Hills, Nashville, TN: higher priced homes
- Downtown Nashville, Nashville, TN: less expensive homes
Neighborhoods with Similar Populations
- 25th Street, Ogden, UT: less expensive homes
- Idlewild South, Charlotte, NC: less expensive homes
- Hamilton Main Street Historic District, Hamilton, OH: less expensive homes
- Gross Point, Wilmette, IL: higher priced homes
- Sierra Springs, San Antonio, TX: less expensive homes
- South Bay, Eureka, CA: less expensive homes
- South Main, Houston, TX: less expensive homes
- Columbia Street Waterfront District, Brooklyn, NY: higher priced homes
- South Park, Buffalo, NY: less expensive homes
- Bryn Mawr, Yonkers, NY: less expensive homes
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