Melbourne, KY—41059
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melbourne, KY
As of Oct '25, the median home price in Melbourne, KY is $298,000, with a year-over-year change of 2.1%. This indicates that home prices in Melbourne, KY are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $298,000 | 2.1% |
| Single Family | $298,000 | 3.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $313,000 | 4.7% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Melbourne, KY
Melbourne, KY lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,180 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,020 | $1,020 |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Melbourne, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Melbourne, KY is 71. This is a increase of 9.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $471,000 | -15.0% |
Listing Count | 9 | 33.0% |
| Listings as % of Homes | 0.3% | 33.0% |
Days on Market | 71 | 9.0% |
Demographics — Melbourne, KY
As of the latest ACS Survey released in 2023, Melbourne, KY has a population of 3,170, which has increased by 19.9% over the past 5 years. Melbourne, KY is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 21.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,170 | 19.9% |
% Under 18 | 23.1% | 10.5% |
% Seniors | 19.1% | -6.4% |
% WFH | 13.3% | 101.5% |
% w/ College Degree | 21.4% | -35.0% |
As of the latest ACS Survey released in 2023, Melbourne, KY is a predominantly white area, with 98.1% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Melbourne, KY is black, making up 0.1% of the population. Foreign-born residents account for 0.1% of the population in Melbourne, KY, and this percentage has decreased by 96.4% 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 | 98.1% | 0.2% |
% Black | 0.1% | -50.0% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.1% | -90.9% |
% Foreign Born | 0.1% | -96.4% |
Mortgage and Risk — Melbourne, KY
Melbourne, KY lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Melbourne, KY
Melbourne, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$190 | $1,020 | $830 |
| 2 Bedroom | -$120 | $1,200 | $1,080 |
| 3 Bedroom | $130 | $1,300 | $1,430 |
| 4 Bedroom | N/A | N/A | $1,590 |
Affordability — Melbourne, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $298,000 |
| Median Household Income | $53,700 |