The housing in Melville, LA is significantly lower than the national average. The median value for a house in Melville, LA is $119,900 compared to the US median value of $338,100. The appreciation rate for houses in Melville over the past year is very low at only 0.82%, while nationwide 1 year house appreciation is 8.27%. These numbers show that the housing market in Melville is not as active as other areas of the country and may not be a great time for sellers or buyers to enter into the market.
The median home cost in Melville is $119,900. Home appreciation the last 10 years has been 36.9%. Home Appreciation in Melville is up 8.6%.
Average Age of Homes
- The median age of Melville real estate is 50 years old
The Rental Market in Melville
- Renters make up 33.1% of the Melville population
- 2.9% 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.