Housing costs in Melbourne?
A typical home costs
$204,900, which is 39.4% less expensive than the national average of
$338,100 and 5.5% more expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Melbourne costs
$900 per month, which is 37.1% cheaper than the national average of
$1,430 and 2.2% cheaper than the state average of
$920.
Can I afford Melbourne?
To live comfortably in Melbourne, Kentucky, a minimum annual income of
$39,240 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about Melbourne?
The cost of living in Melbourne, KY is relatively low compared to the national average. The median home price in Melbourne is just over $140,000 and the cost of living index is at 89.1, which is 11.9% lower than the national average. Additionally, utilities including electricity, natural gas, and water are all reasonably priced making it a great place to live. With a variety of restaurants and amenities nearby as well as a thriving business community, Melbourne is an affordable location for both businesses and individuals looking to relocate or expand.