Expensive
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 $153,001, lower than the Virginia average of $443,089.
The average cost of rent is $792/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. In Melrose, 18.17% of households rent, and 45.97% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $4,665 per month. Households that rent pay about 16.97% of their income on rent here. Melrose’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Green Hill, VA: equally priced homes
- Stovall, VA: equally priced homes
- Perth, VA: less expensive homes
- Long Island, VA: higher priced homes
- Holts Crossing, VA: equally priced homes
- Straightstone, VA: higher priced homes
- Nathalie, VA: equally priced homes
- Gladys, VA: equally priced homes
- Brookneal, VA: less expensive homes
- Mount Zion, VA: equally priced homes
Cities with Similar Populations
- Boone, MS: less expensive homes
- Beaver, AK: less expensive homes
- Beavertown, OH: less expensive homes
- Tenney, MN: higher priced homes
- The Cedars, CA: higher priced homes
- Three Forks, AR: less expensive homes
- Winthrop, MO: equally priced homes
- Tignor, VA: higher priced homes
- Windsor Park, PA: less expensive homes
- Tilford, KY: less expensive homes
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