Housing costs in Melvin?
A typical home costs
$191,100, which is 43.5% less expensive than the national average of
$338,100 and 12.6% less expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Melvin costs
$850 per month, which is 40.6% cheaper than the national average of
$1,430 and 29.4% cheaper than the state average of
$1,100.
Can I afford Melvin?
To live comfortably in Melvin, Michigan, a minimum annual income of
$36,720 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Melvin?
The cost of living in Melvin, MI is quite reasonable. The median home price in the area is just over $150,000 and the cost of utilities, groceries, and other necessities is also lower than the national average. There is no state income tax which helps to keep expenses low. The unemployment rate in Melvin is very low compared to the rest of Michigan making it an attractive place for people looking for employment opportunities. Additionally, property taxes are relatively low when compared to other communities in the region. All-in-all, Melvin is an affordable place to live with plenty of options for those who are looking for a new home or just a change of scenery.