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 $137,644, lower than the New Mexico average of $199,923.
The average cost of rent is $839/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. While nearly 69.30% of residents own their homes outright in Melrose, 18.37% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $4,394 per month. Households that rent pay about 19.09% of their income on rent here. Melrose's most expensive areas are in the northeastern regions, while the cheapest areas are in the northern parts of the city.
Nearby Cities
- Krider, NM: higher priced homes
- St. Vrain, NM: higher priced homes
- Grier, NM: higher priced homes
- Ranchvale, NM: higher priced homes
- Cannon Air Force Base, NM: equally priced homes
- Hollene, NM: higher priced homes
- Taiban, NM: equally priced homes
- Clovis, NM: equally priced homes
- Texico, NM: higher priced homes
- Fort Sumner, NM: less expensive homes
Cities with Similar Populations
- Sand Lake, NY: higher priced homes
- Nona, TX: less expensive homes
- North Hornell, NY: less expensive homes
- Nuremberg, PA: equally priced homes
- Oliver, AL: higher priced homes
- Owendale, MI: less expensive homes
- Oxford, AR: less expensive homes
- Oxford, NE: less expensive homes
- Paddy Hill, NY: higher priced homes
- Pajaro, CA: higher priced homes
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