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 $206,546, lower than the New York average of $481,023.
The average cost of rent is $977/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. While nearly 44.02% of residents own their homes outright in Melrose, 2.92% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $8,394 per month. Households that rent pay about 11.64% of their income on rent here. Melrose's most expensive areas are in the eastern regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- Raymertown, NY: higher priced homes
- Waterford, NY: higher priced homes
- Schaghticoke, NY: equally priced homes
- Valley Falls, NY: equally priced homes
- Quackenkill, NY: higher priced homes
- Cohoes, NY: equally priced homes
- Johnsonville, NY: less expensive homes
- Mechanicville, NY: equally priced homes
- Millertown, NY: less expensive homes
- Troy, NY: less expensive homes
Cities with Similar Populations
- Newport, NY: less expensive homes
- Roland, IA: less expensive homes
- Renville, MN: less expensive homes
- Rebersburg, PA: less expensive homes
- Ralls, TX: less expensive homes
- Pondville, AL: less expensive homes
- Pomona, KS: less expensive homes
- Pearl City, IL: less expensive homes
- Pattersonville, NY: higher priced homes
- Palmyra, ME: less expensive homes
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