The housing market in Melbourne, AR has seen a significant increase in value over the past year. The median home value is currently $138,400, which is significantly lower than the US national median of $338,100. Despite this disparity in prices, the one-year appreciation rate for homes in Melbourne, AR was 15.07%, significantly higher than the 8.27% nationwide. This strong appreciation rate indicates a healthy and growing local real estate market that could offer homeowners and investors excellent returns on their investments.
The median home cost in Melbourne is $138,400. Home appreciation the last 10 years has been 57.5%. Home Appreciation in Melbourne is up 17.9%.
Average Age of Homes
- The median age of Melbourne real estate is 42 years old
The Rental Market in Melbourne
- Renters make up 32.4% of the Melbourne population
- 3.9% of houses and apartments in Melbourne, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.