Housing costs in Melwood?
A typical home costs
$404,200, which is 19.6% more expensive than the national average of
$338,100 and 4.1% more expensive than the average Maryland home, at
$388,100. Renting a two-bedroom unit in Melwood costs
$2,010 per month, which is 40.6% more than the national average of
$1,430 and 19.4% more than the state average of
$1,620.
Can I afford Melwood?
To live comfortably in Melwood, Maryland, a minimum annual income of
$77,400 for a family, and
$70,400 for a single person is recommended.
What does A.I. say about Melwood?
The cost of living in Melwood, MD is generally quite reasonable compared to other cities in the region. The median home value in the city is $252,500 and the median household income is approximately $56,000, which is well below the national average. Renting a one-bedroom apartment will typically cost around $1,300 per month and utilities are relatively low as well. Groceries and eating out also tend to be reasonably priced in Melwood. Overall, Melwood offers a great balance between affordability and quality of life.