Housing costs in Melvin?
A typical home costs
$94,000, which is 72.2% less expensive than the national average of
$338,100 and 51.8% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Melvin costs
$720 per month, which is 49.7% cheaper than the national average of
$1,430 and 29.2% cheaper than the state average of
$930.
Can I afford Melvin?
To live comfortably in Melvin, Iowa, a minimum annual income of
$18,000 for a family, and
$22,800 for a single person is recommended.
What does A.I. say about Melvin?
The cost of living in Melvin, IA is relatively low compared to other cities in the Midwest. The median home value is around $115,000 and the median monthly rent is just over $700. The average price for a gallon of gasoline is roughly 10 percent lower than the national average and groceries are also quite affordable. There are no state or local sales taxes and the overall tax burden on residents of Melvin, IA is among the lowest in the region. This makes Melvin a popular choice for those looking for an affordable place to live.