Melbourne, IA—50162
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melbourne, IA
As of Nov '25, the median home price in Melbourne, IA is $239,000, with a year-over-year change of 4.8%. This indicates that home prices in Melbourne, IA are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $239,000 | 4.8% |
| Single Family | $240,000 | 5.3% |
| 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 | $205,000 | 4.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Melbourne, IA
As of July '25, Rentcast reports the average rent in Melbourne, IA is $748, with a year-over-year rent change of -9.3%. Per bedroom, the median rent as of July '25 in Melbourne, IA is 2-bedrooms: $748. The most common rental property sizes in Melbourne, IA are 3-bedroom and 2-bedroom, accounting for 60.1% and 38.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $775 | $748 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $775 | $748 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Melbourne, IA
As of Nov '25, Realtor.com reports that the median days on market for a home in Melbourne, IA is 22. This is a decrease of -29.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $192,000 | 6.0% |
Listing Count | 4 | -18.0% |
| Listings as % of Homes | 0.5% | -18.0% |
Days on Market | 22 | -29.0% |
Demographics — Melbourne, IA
As of the latest ACS Survey released in 2023, Melbourne, IA has a population of 1,190, which has decreased by -10.9% over the past 5 years. Melbourne, IA is a popular place for families, as children make up 26.8% of the population. The area has a poorly educated workforce, with 17.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,190 | -10.9% |
% Under 18 | 26.8% | -9.5% |
% Seniors | 14.6% | 11.5% |
% WFH | 10.4% | 300.0% |
% w/ College Degree | 17.9% | -4.8% |
As of the latest ACS Survey released in 2023, Melbourne, IA is a predominantly white area, with 98.9% of the population identifying as white. The white population has grown by 2.2% in the last 5 years. The second most common race or ethnicity in Melbourne, IA is hispanic, making up 0.6% of the population. Foreign-born residents account for 0.3% of the population in Melbourne, IA, and this percentage has decreased by 84.2% 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 | 98.9% | 2.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.6% | -40.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.3% | -84.2% |
Mortgage and Risk — Melbourne, IA
According to HUD data as of 2023, there were 56 mortgage originations in Melbourne, IA, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Melbourne, IA. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 56 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Rentals and Section 8 — Melbourne, IA
Melbourne, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,100 |
| 2 Bedroom | $665 | $775 | $1,440 |
| 3 Bedroom | N/A | N/A | $1,900 |
| 4 Bedroom | N/A | N/A | $1,910 |
Affordability — Melbourne, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $239,000 |
| Median Household Income | $67,200 |