Home prices
Melbourne's median home price is $79,600. Compared to its nearby areas this is roughly $9,140 (12%) higher.It is about $137,900 (63%) lower in comparison to the nation as a whole, and compared to the city of Jonesboro is approximately $73,300 (47%) lower.
Rents
The median monthly rent in Melbourne is $514. In comparison to nearby areas it is approximately $12 (2%) lower.In comparison to the country as a whole it is approximately $548 (51%) lower, and compared to the city of Jonesboro it is about $250 (32%) lower.
Nearby places
Mount Pleasant
Mount Pleasant is approximately 7 miles southeast from Melbourne. Housing prices there are a bit more expensive. The median home in Mount Pleasant is valued at $96,300, which works out to $16,700 (17%) higher than Melbourne. Its rents are similar. Mount Pleasant's median monthly rent is $532, which works out to $18 (3%) higher than Melbourne.
Franklin
Franklin is about 9 miles northeast from Melbourne. The real estate prices there are substantially less expensive. The median home cost in Franklin is $48,000, which is $31,600 (65%) lower than Melbourne. Its rents are similar. Franklin's median rent is $506 per month, which is $8 (1%) lower than Melbourne.
Oxford
Oxford is approximately 10 miles north from Melbourne. Real estate prices there are a bit less expensive. The median home in Oxford costs $71,900, which is $7,700 (10%) lower than Melbourne. The rent there is a bit more expensive. In Oxford the median rent is $544 a month, which comes out to $30 (5%) higher than Melbourne.
Sidney
Sidney is roughly 11 miles east from Melbourne. Real estate prices there are somewhat less expensive. The median home in Sidney is valued at $74,000, which comes out to $5,600 (7%) lower than Melbourne. The rent there is a bit less expensive. The median rent in Sidney is $489 per month, which works out to $25 (5%) lower than Melbourne.
Evening Shade
Evening Shade is approximately 12 miles east of Melbourne. The housing prices there are a bit less expensive. The value of the median home in Evening Shade is $62,100, which works out to $17,500 (28%) lower than Melbourne. Rent there is a little more expensive. In Evening Shade the median monthly rent is $557, which comes out to $43 (7%) higher than Melbourne.
