Similar to nearby areas, it's significantly less expensive compared to the entire nation. However it's somewhat less expensive compared to the city of St. Cloud.
Home prices
The median home in Melrose costs $131,000. Compared to other places in this area it is roughly $5,440 (4%) higher.Compared to the entire country it is approximately $86,500 (39%) lower, and it is approximately $24,500 (15%) lower in comparison to the city of St. Cloud.
Rents
Melrose's median rent is $873 a month. This is about $211 (31%) higher in comparison to its nearby areas.In comparison to the country as a whole it is roughly $189 (17%) lower, and in comparison to the city of St. Cloud it is approximately $71 (8%) higher.
Nearby places
Meire Grove
Meire Grove is roughly 3 miles southwest from Melrose. Real estate prices there are somewhat less expensive. The median home price in Meire Grove is $101,600, which is $29,400 (28%) lower than Melrose. The rent there is substantially less expensive. In Meire Grove the median monthly rent is $646, which works out to $227 (35%) lower than Melrose.
Freeport
Freeport is about 5 miles east from Melrose. Its housing prices are somewhat more expensive. The median home value in Freeport is $158,400, which comes out to $27,400 (17%) higher than Melrose. Rent there is substantially less expensive. The median rent in Freeport is $633 per month, which works out to $240 (37%) lower than Melrose.
Sauk Centre
Sauk Centre is about 6 miles northwest from Melrose. The housing prices there are a little more expensive. Sauk Centre's median home value is $144,200, which works out to $13,200 (9%) higher than Melrose. Rents there are a lot less expensive. In Sauk Centre the median rent is $642 per month, which is $231 (35%) lower than Melrose.
Elrosa
Elrosa is about 8 miles southwest from Melrose. The real estate prices there are fairly similar. The value of the median home in Elrosa is $125,000, which comes out to $6,000 (4%) lower than Melrose. Rent there is fairly similar. The median rent in Elrosa is $886 per month, which works out to $13 (1%) higher than Melrose.
Grey Eagle
Grey Eagle is approximately 9 miles north of Melrose. The housing prices there are significantly less expensive. The cost of the median home in Grey Eagle is $98,600, which comes out to $32,400 (32%) lower than Melrose. Rent there is significantly less expensive. The median rent in Grey Eagle is $504 per month, which is $369 (73%) lower than Melrose.
