Housing costs in Melrose?
A typical home costs
$146,600, which is 56.6% less expensive than the national average of
$338,100 and 45.1% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Melrose costs
$920 per month, which is 9.8% cheaper than the national average of
$1,020 and 2.2% more than the state average of
$900.
Can I afford Melrose?
To live comfortably in Melrose (zip 88124), New Mexico, a minimum annual income of
$28,080 for a family, and
$28,800 for a single person is recommended.
What does A.I. say about Melrose?
The cost of living in 88124 Melrose, NM is generally very affordable. According to BestPlaces's Cost of Living Index, the city has an overall cost of living index that is 10% lower than the national average. Housing prices in the area are particularly attractive with the median price of a home sitting at around $75k, which is about 40% lower than the US average. Furthermore, groceries and consumer goods in Melrose are notably cheaper than many other cities in America. With its low cost of living and beautiful scenery, it’s no wonder so many people call 88124 Melrose home.