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 $127,760, lower than the Virginia average of $323,261.
The average cost of rent is $614/mo in Melrose, primarily driven by the current value of real estate in the Melrose area. While nearly 54.59% of residents own their homes outright in Melrose, 26.55% rent.
Housing affordability isn’t just about home prices, though. The average household income in Melrose is $4,202 per month. Households that rent pay about 14.61% 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.
Nearby Cities
- Green Hill, VA: less expensive homes
- Stovall, VA: less expensive homes
- Perth, VA: less expensive homes
- Long Island, VA: less expensive homes
- Holts Crossing, VA: less expensive homes
- Straightstone, VA: equally priced homes
- Nathalie, VA: less expensive homes
- Gladys, VA: equally priced homes
- Brookneal, VA: equally priced homes
- Mount Zion, VA: less expensive 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: higher priced homes
- Tilford, KY: less expensive homes
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