Melvindale, MI—48122
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melvindale, MI
As of Oct '25, the median home price in Melvindale, MI is $139,000, with a year-over-year change of 0.5%. This indicates that home prices in Melvindale, MI are flat. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $139,000 | 0.5% |
| Single Family | $137,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $128,000 | -1.5% |
3 Bed | $151,000 | 0.7% |
4 Bed | $177,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Melvindale, MI
As of July '25, Rentcast reports the average rent in Melvindale, MI is $1,120, with a year-over-year rent change of 7.7%. Per bedroom, the median rent as of July '25 in Melvindale, MI is 1-bedrooms: $943, 2-bedrooms: $1,270, 3-bedrooms: $1,450. The most common rental property sizes in Melvindale, MI are 1-bedroom and 2-bedroom, accounting for 33.2% and 28.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,120 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $895 | $943 |
| 2 Bed Rent | $1,220 | $1,270 |
| 3 Bed Rent | $1,400 | $1,450 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Melvindale, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Melvindale, MI is 34. This is a decrease of -26.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $158,000 | 16.0% |
Listing Count | 25 | 18.0% |
| Listings as % of Homes | 0.3% | 18.0% |
Days on Market | 34 | -26.0% |
Demographics — Melvindale, MI
As of the latest ACS Survey released in 2023, Melvindale, MI has a population of 12,600, which has increased by 21.0% over the past 5 years. Melvindale, MI is a popular place for families, as children make up 31.1% of the population. The area has a poorly educated workforce, with 15.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,600 | 21.0% |
% Under 18 | 31.1% | 0.0% |
% Seniors | 8.6% | -18.9% |
% WFH | 7.2% | 380.0% |
% w/ College Degree | 15.0% | 36.4% |
As of the latest ACS Survey released in 2023, Melvindale, MI is a predominantly white area, with 62.5% of the population identifying as white. The white population has grown by 10.8% in the last 5 years. The second most common race or ethnicity in Melvindale, MI is hispanic, making up 23.1% of the population. Foreign-born residents account for 18.1% of the population in Melvindale, MI, and this percentage has increased by 16.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 62.5% | 10.8% |
% Black | 12.5% | -12.6% |
% Hispanic | 23.1% | 5.5% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 18.1% | 16.8% |
Mortgage and Risk — Melvindale, MI
According to HUD data as of 2023, there were 113 mortgage originations in Melvindale, MI, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Melvindale, MI. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 113 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Melvindale, MI
Melvindale, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 294 |
Total Units Section 8 | 294 |
% Rentals under Section 8 | 16.8% |
% Occupied Section 8 | 93.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $175 | $895 | $1,070 |
| 2 Bedroom | $130 | $1,220 | $1,350 |
| 3 Bedroom | $250 | $1,400 | $1,650 |
| 4 Bedroom | N/A | N/A | $1,790 |
Affordability — Melvindale, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $139,000 |
| Median Household Income | $41,400 |