Mellen, MI is a great place to live and invest in housing. The median value of houses in the city is $207,200, which is significantly lower than the US House Median Value of $338,100. While the US house appreciation rate for one year stands at 8.27%, Mellen's house appreciation rate for one year is 12.90%. This higher rate of appreciation makes Mellen an attractive investment opportunity compared to other cities in the United States. With this increase in value combined with an already lower median house price than other cities, investing in housing in Mellen is bound to be a wise choice.
The median home cost in Mellen is $207,200. Home appreciation the last 10 years has been 71.4%. Home Appreciation in Mellen is up 23.1%.
Average Age of Homes
- The median age of Mellen real estate is 40 years old
The Rental Market in Mellen
- Renters make up 8.0% of the Mellen population
- 0.0% of houses and apartments in Mellen, 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.