Housing costs in Melbourne?
A typical home costs
$138,400, which is 59.1% less expensive than the national average of
$338,100 and 23.9% less expensive than the average Arkansas home, at
$181,800. Renting a two-bedroom unit in Melbourne costs
$720 per month, which is 49.7% cheaper than the national average of
$1,430 and 16.7% cheaper than the state average of
$840.
Can I afford Melbourne?
To live comfortably in Melbourne, Arkansas, a minimum annual income of
$26,640 for a family, and
$23,600 for a single person is recommended.
What does A.I. say about Melbourne?
The cost of living in Melbourne, AR is quite affordable. The city has an overall cost of living index score of 83.8, which is lower than the national average of 100. This makes Melbourne a great place to live if you are looking for an affordable lifestyle. Housing costs in particular are low, with average rent prices for a one-bedroom apartment being around $500 per month and home values at around $70,000 - both much lower than the national averages. Groceries and other necessities also come at a relatively low rate, making Melbourne an ideal location for those looking to have a comfortable lifestyle without breaking the bank.