Melrose, New York, NY—10451
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melrose, New York, NY
As of Oct '25, the median home price in Melrose, New York, NY is $334,000, with a year-over-year change of 2.9%. This indicates that home prices in Melrose, New York, NY are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $334,000 | 2.9% |
| Single Family | $789,000 | 7.3% |
| Condos | $317,000 | 3.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $285,000 | 5.2% |
2 Bed | $354,000 | 4.7% |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Melrose, New York, NY
As of July '25, Rentcast reports the average rent in Melrose, New York, NY is $3,000, with a year-over-year rent change of -4.8%. Per bedroom, the median rent as of July '25 in Melrose, New York, NY is studios: $2,610, 1-bedrooms: $2,840, 2-bedrooms: $3,440, 3-bedrooms: $4,050. The most common rental property sizes in Melrose, New York, NY are 2-bedroom and 1-bedroom, accounting for 43.3% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,980 | $3,000 |
| Studio Rent | $2,550 | $2,610 |
| 1 Bed Rent | $2,700 | $2,840 |
| 2 Bed Rent | $3,280 | $3,440 |
| 3 Bed Rent | $3,620 | $4,050 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Melrose, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Melrose, New York, NY is 62. This is a increase of 48.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $294,000 | 7.0% |
Listing Count | 63 | 43.0% |
| Listings as % of Homes | 0.2% | 43.0% |
Days on Market | 62 | 48.0% |
Demographics — Melrose, New York, NY
As of the latest ACS Survey released in 2023, Melrose, New York, NY has a population of 49,000, which has increased by 2.5% over the past 5 years. Melrose, New York, NY is a moderately popular place for families, as children make up 22.5% of the population. The area has a poorly educated workforce, with 21.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,000 | 2.5% |
% Under 18 | 22.5% | -12.5% |
% Seniors | 14.3% | 13.5% |
% WFH | 8.4% | 189.7% |
% w/ College Degree | 21.3% | 9.2% |
As of the latest ACS Survey released in 2023, Melrose, New York, NY is a predominantly hispanic area, with 50.8% of the population identifying as hispanic. The hispanic population has shrunk by 14.0% in the last 5 years. The second most common race or ethnicity in Melrose, New York, NY is black, making up 47.7% of the population. Foreign-born residents account for 29.4% of the population in Melrose, New York, NY, and this percentage has decreased by 8.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 6.0% | 130.8% |
% Black | 47.7% | 17.8% |
% Hispanic | 50.8% | -14.0% |
% Asian | 1.1% | -8.3% |
% Foreign Born | 29.4% | -8.7% |
Mortgage and Risk — Melrose, New York, NY
According to HUD data as of 2023, there were 45 mortgage originations in Melrose, New York, NY, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Melrose, New York, NY. Investor activity is low, as 7.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 45 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Melrose, New York, NY
Melrose, New York, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 8,010 |
Total Units Section 8 | 3,314 |
% Rentals under Section 8 | 17.6% |
% Occupied Section 8 | 88.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$490 | $2,700 | $2,210 |
| 2 Bedroom | -$800 | $3,280 | $2,480 |
| 3 Bedroom | -$520 | $3,620 | $3,100 |
| 4 Bedroom | N/A | N/A | $3,330 |
Affordability — Melrose, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | N/A |
| Median Home Price | $334,000 |
| Median Household Income | $37,100 |