Housing costs in Melrose?
A typical home costs
$96,700, which is 71.4% less expensive than the national average of
$338,100 and 63.8% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Melrose costs
$900 per month, which is 37.1% cheaper than the national average of
$1,430 and 13.3% cheaper than the state average of
$1,020.
Can I afford Melrose?
To live comfortably in Melrose, New Mexico, a minimum annual income of
$18,360 for a family, and
$28,400 for a single person is recommended.
What does A.I. say about Melrose?
Melrose, NM is known for its low cost of living. With a median household income of $35,945 and median home values of just under $54,000, it’s easy to see why people choose to live in this small town. The cost of goods and services are well below the national average, meaning that residents can enjoy all the amenities without breaking the bank. In addition to low costs, Melrose also offers a variety of entertainment opportunities such as art galleries, restaurants, music festivals and other activities. All in all, Melrose is an affordable destination for anyone looking for a quiet place to relax and enjoy life on a budget.