Housing costs in Melbourne?
A typical home costs
$171,100, which is 49.4% less expensive than the national average of
$338,100 and 12.2% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Melbourne costs
$890 per month, which is 4.3% cheaper than the national average of
$930 and 5.6% more than the state average of
$840.
Can I afford Melbourne?
To live comfortably in Melbourne (zip 50162), Iowa, a minimum annual income of
$32,760 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about Melbourne?
The cost of living in 50162 Melbourne, IA is quite reasonable. The median home value in the area is approximately $114,500, and the median rent is around $745 per month. Although housing expenses are relatively low, other costs such as groceries and utilities can be more expensive compared to larger cities. However, overall the cost of living in 50162 Melbourne, IA is still quite affordable and less than the national average.