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Affordable
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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 $122,170, lower than the Ohio average of $236,816.
The average cost of rent is $696/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. In Melrose, 7.26% of households rent, and 59.81% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $6,481 per month. Households that rent pay about 10.74% of their income on rent here. Melrose’s most expensive areas are in the eastern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Oakwood, OH: equally priced homes
- Grover Hill, OH: less expensive homes
- Roselms, OH: equally priced homes
- Mandale, OH: higher priced homes
- Dupont, OH: equally priced homes
- Latty, OH: higher priced homes
- Rice, OH: higher priced homes
- Paulding, OH: higher priced homes
- Junction, OH: higher priced homes
- Continental, OH: higher priced homes
Cities with Similar Populations
- Liberty, SD: less expensive homes
- Ronneby, MN: higher priced homes
- Roaring Spring, KY: higher priced homes
- Rixies, NV: higher priced homes
- Maitland, MO: equally priced homes
- Mahon, IN: higher priced homes
- Lodore, VA: higher priced homes
- Lockhart, SC: less expensive homes
- Little Rock, KY: higher priced homes
- Little Eagle, SD: less expensive homes
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