Melrose, FL—32666
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melrose, FL
As of Oct '25, the median home price in Melrose, FL is $306,000, with a year-over-year change of -1.5%. This indicates that home prices in Melrose, FL are decreasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $306,000 | -1.5% |
| Single Family | $309,000 | -1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $219,000 | -1.8% |
3 Bed | $332,000 | -0.9% |
4 Bed | $459,000 | 1.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Melrose, FL
As of July '25, Rentcast reports the average rent in Melrose, FL is $1,810, with a year-over-year rent change of 11.7%. Per bedroom, the median rent as of July '25 in Melrose, FL is 2-bedrooms: $1,200, 3-bedrooms: $1,810, 4-bedrooms: $2,100. The most common rental property sizes in Melrose, FL are 4-bedroom and 2-bedroom, accounting for 34.9% and 32.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $1,810 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $1,800 | $1,810 |
| 4 Bed Rent | $2,100 | $2,100 |
% of Rental Stock
Property Listings — Melrose, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Melrose, FL is 79. This is a increase of 49.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $468,000 | 16.0% |
Listing Count | 39 | 31.0% |
| Listings as % of Homes | 0.6% | 31.0% |
Days on Market | 79 | 49.0% |
Demographics — Melrose, FL
As of the latest ACS Survey released in 2023, Melrose, FL has a population of 5,540, which has decreased by -22.5% over the past 5 years. Melrose, FL is a less popular place for families, as children make up 11.2% of the population. The area has a moderately educated workforce, with 30.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,540 | -22.5% |
% Under 18 | 11.2% | -27.3% |
% Seniors | 41.6% | 77.0% |
% WFH | 31.6% | 285.4% |
% w/ College Degree | 30.4% | 56.7% |
As of the latest ACS Survey released in 2023, Melrose, FL is a predominantly white area, with 88.8% of the population identifying as white. The white population has grown by 3.9% in the last 5 years. The second most common race or ethnicity in Melrose, FL is black, making up 5.3% of the population. Foreign-born residents account for 2.4% of the population in Melrose, FL, and this percentage has increased by 71.4% 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 | 88.8% | 3.9% |
% Black | 5.3% | -48.5% |
% Hispanic | 2.0% | 17.6% |
% Asian | 0.7% | 75.0% |
% Foreign Born | 2.4% | 71.4% |
Mortgage and Risk — Melrose, FL
According to HUD data as of 2023, there were 126 mortgage originations in Melrose, FL, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Melrose, FL. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 126 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Melrose, FL
Melrose, FL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $990 |
| 2 Bedroom | $20 | $1,200 | $1,220 |
| 3 Bedroom | -$260 | $1,800 | $1,540 |
| 4 Bedroom | -$330 | $2,100 | $1,770 |
Affordability — Melrose, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $306,000 |
| Median Household Income | $66,500 |