Melvindale, MI is an affordable housing market with a median value of $113,300. This is significantly lower than the US house median value of $338,100. Despite the lower median value, the one year appreciation rate for houses in Melvindale is 8.47%, slightly higher than the US average of 8.27%. This suggests that this area is experiencing strong growth in its housing market and could be a great place to invest in real estate.
The median home cost in Melvindale is $113,300. Home appreciation the last 10 years has been 109.8%. Home Appreciation in Melvindale is up 13.1%.
Average Age of Homes
- The median age of Melvindale real estate is 61 years old
The Rental Market in Melvindale
- Renters make up 35.8% of the Melvindale population
- 1.6% of houses and apartments in Melvindale, 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.