Zip 32940 (Melbourne, FL) Housing

Melbourne, FL (32940) is a great place to invest in housing. According to the statistics, the median value of houses in this area is $450,400 which is much higher than the US house median value of $338,100. Moreover, the 1 year house appreciation rate in Melbourne was 20.52% compared to 8.27% for US as a whole. This high appreciation rate indicates that investing in housing in Melbourne would be a very lucrative venture. All these factors make Melbourne an even more desirable place to invest in real estate.

The median home cost in Melbourne (zip 32940) is $450,400. Home appreciation the last 10 years has been 211.6%. Home Appreciation in Melbourne (zip 32940) is up 26.8%.

Average Age of Homes

- The median age of Melbourne (zip 32940) real estate is 18 years old

The Rental Market in Melbourne (zip 32940)

- Renters make up 14.5% of the Melbourne (zip 32940) population
- 0.3% of houses and apartments in Melbourne (zip 32940), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Melbourne, Florida	United States
	20,155.0	139,647,020.0
	20	42
	$450,400	$338,100
	26.8%	16.6%
	85.7%	57.0%
	211.6%	101.1%
	$8.34	$10.98
	$2,797	$2,690
	77.1%	57.4%
	7.7%	11.2%
	15.2%	31.4%
Vacant Housing
	0.3%	1.9%
	1.2%	0.4%
	1.0%	0.7%
	0.4%	0.4%
	4.0%	3.6%
	0.8%	4.1%
Value of Owner-Occupied Housing
	1.2%	2.6%
	1.2%	2.4%
	1.0%	2.8%
	0.1%	3.9%
	0.3%	4.5%
	2.9%	11.3%
	4.4%	13.0%
	30.1%	20.1%
	24.7%	13.6%
	16.5%	8.3%
	13.1%	9.7%
	3.3%	3.9%
	0.3%	2.2%
	0.3%	0.8%
	0.6%	1.1%
Housing Units by Year Structure Built
	0.8%	0.2%
	32.9%	13.6%
	32.9%	13.6%
	30.6%	13.6%
	13.1%	13.2%
	2.5%	14.8%
	30.6%	13.6%
	0.6%	10.0%
	0.6%	4.7%
	0.1%	12.2%

Reviews for Melbourne

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Jo · Melbourne, FL

Melbourne is Nice - Palm Bay, eh--not so much

Over 6 years ago

I don't know who wrote this review, but I live here and I can tell you Palm Bay is a ghetto. Family Oriented? ... that's because the low-lifes of society breed more More

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john · Melbourne, FL

Suntree

Over 8 years ago

Golf-oriented, and retirement age dominated, I find Suntree to be okay to live in, although lacking in character. Another qualm is the lack of environmental awareness More

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