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Affordable
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These days, finding an affordable place to live in the Melrude area can be challenging. Home prices in Melrude are now at a median cost of $190,000, lower than the Minnesota average of $345,793.
The average cost of rent is $976/mo in Melrude, primarily driven by the current value of real estate in the Melrude area. In Melrude, 5.13% of households rent, and 50.00% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melrude is $6,615 per month. Households that rent pay about 14.76% of their income on rent here. Melrude’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
- Cotton, MN: higher priced homes
- Makinen, MN: higher priced homes
- Zim, MN: equally priced homes
- Markham, MN: higher priced homes
- Forbes, MN: equally priced homes
- Genoa, MN: higher priced homes
- Payne, MN: higher priced homes
- Palo, MN: equally priced homes
- Iron Junction, MN: higher priced homes
- Eveleth, MN: less expensive homes
Cities with Similar Populations
- Reaville, NJ: higher priced homes
- North Lubec, ME: equally priced homes
- North Newcastle, ME: higher priced homes
- North Orland, ME: higher priced homes
- Nysted, NE: equally priced homes
- Ohlman, IL: less expensive homes
- Pyriton, AL: less expensive homes
- Rachal, TX: less expensive homes
- Raeville, NE: less expensive homes
- Raleigh, GA: equally priced homes
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