Housing costs in Melbourne?
A typical home costs
$159,400, which is 52.9% less expensive than the national average of
$338,100 and 18.2% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Melbourne costs
$860 per month, which is 39.9% cheaper than the national average of
$1,430 and 8.1% cheaper than the state average of
$930.
Can I afford Melbourne?
To live comfortably in Melbourne, Iowa, a minimum annual income of
$30,600 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Melbourne?
The cost of living in Melbourne, IA is relatively affordable. The overall cost of living index is estimated to be 87.1, which is 13.9% lower than the national average. Housing costs are especially low, with the median home price being around $107,500 and rental prices being on average around $746 per month. Other expenses such as food and transportation are also much lower than the national average. This makes Melbourne a great option for those looking to settle down in an affordable location with plenty of amenities nearby.