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Affordable
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These days, finding an affordable place to live in the Melvin area can be challenging. Home prices in Melvin are now at a median cost of $82,611, lower than the Illinois average of $300,242.
The average cost of rent is $716/mo in Melvin, primarily driven by the current value of real estate in the Melvin area. In Melvin, 15.79% of households rent, and 49.06% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Melvin is $4,931 per month. Households that rent pay about 14.52% of their income on rent here. Melvin’s most expensive areas are in the southern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Roberts, IL: less expensive homes
- Guthrie, IL: higher priced homes
- Sibley, IL: higher priced homes
- Elliott, IL: higher priced homes
- Perdueville, IL: higher priced homes
- Garber, IL: higher priced homes
- Loda, IL: higher priced homes
- Gibson City, IL: higher priced homes
- Strawn, IL: higher priced homes
- Thawville, IL: higher priced homes
Cities with Similar Populations
- Lonoke, CA: higher priced homes
- Scotsdale, MO: higher priced homes
- Scarlet, WV: higher priced homes
- Savage, MT: higher priced homes
- Sara, WA: higher priced homes
- Saguache, CO: higher priced homes
- Ruthville, VA: higher priced homes
- Luxemburg, IA: higher priced homes
- Ludlow, IA: higher priced homes
- Lower Village, NH: higher priced homes
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