The housing in Melville, RI is significantly more expensive than the US median, with a median value of $690,800. This marks a substantial increase from the US median value of $338,100 and also reflects greater appreciation in the past year, at 10.78% compared to 8.27%, indicating that prices are rising faster in Melville than across the nation. With this kind of housing market, it's easy to see why so many people are looking to purchase property in this area.
The median home cost in Melville is $690,800. Home appreciation the last 10 years has been 91.2%. Home Appreciation in Melville is up 16.0%.
Average Age of Homes
- The median age of Melville real estate is 41 years old
The Rental Market in Melville
- Renters make up 79.3% of the Melville population
- 12.9% of houses and apartments in Melville, 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.