Home prices
The value of the median home in Melbourne is $169,000. In comparison to nearby areas it is roughly $101,020 (37%) lower.It is roughly $48,500 (22%) lower compared to the nation as a whole, and it is about $71,000 (29%) lower in comparison to the city of Orlando.
Rents
Melbourne's median monthly rent is $1,030. Compared to nearby areas this is about $154 (13%) lower.It is approximately $32 (3%) lower in comparison to the rest of the country, and in comparison to the city of Orlando is roughly $166 (13%) lower.
Nearby places
Melbourne Village
Melbourne Village is Melbourne's neighbor to the south. Its real estate prices are significantly more expensive. The median home in Melbourne Village costs $250,000, which is $81,000 (32%) higher than Melbourne. Rents there are a bit less expensive. The median monthly rent in Melbourne Village is $950, which is $80 (8%) lower than Melbourne.
West Melbourne
West Melbourne is Melbourne's neighbor to the south. Its housing prices are somewhat more expensive. The median home cost in West Melbourne is $224,400, which is $55,400 (24%) higher than Melbourne. Its rents are somewhat more expensive. In West Melbourne the median monthly rent is $1,349, which comes out to $319 (23%) higher than Melbourne.
June Park
June Park is Melbourne's neighbor to the southwest. Housing prices there are a bit more expensive. The median home in June Park costs $204,600, which comes out to $35,600 (17%) higher than Melbourne. Rent there is a little more expensive. The median monthly rent in June Park is $1,295, which works out to $265 (20%) higher than Melbourne.
Indian Harbour Beach
Indian Harbour Beach is Melbourne's neighbor to the northeast. Housing prices there are substantially more expensive. The cost of the median home in Indian Harbour Beach is $296,600, which works out to $127,600 (43%) higher than Melbourne. The rent there is a bit more expensive. In Indian Harbour Beach the median rent is $1,106 per month, which is $76 (6%) higher than Melbourne.
Indialantic
Indialantic is roughly 5 miles east from Melbourne. Real estate prices there are substantially more expensive. Indialantic's median home price is $374,500, which works out to $205,500 (54%) higher than Melbourne. Rents there are a bit more expensive. The median monthly rent in Indialantic is $1,220, which works out to $190 (15%) higher than Melbourne.
