The housing market in Melvin, MI (48454) is slightly below that of the US average. According to recent statistics, the median value of a house in Melvin is $203,700, which is roughly 40% lower than the national median of $338,100. Over the course of the last year, appreciation for housing in Melvin has been 6.41%, which is slightly lower than the 8.27% growth seen nationally. While this may seem discouraging, it could be an opportunity for those looking to purchase a home in Melvin as prices are currently more affordable than they have been historically.
The median home cost in Melvin (zip 48454) is $203,700. Home appreciation the last 10 years has been 118.0%. Home Appreciation in Melvin (zip 48454) is up 12.8%.
Average Age of Homes
- The median age of Melvin (zip 48454) real estate is 46 years old
The Rental Market in Melvin (zip 48454)
- Renters make up 12.8% of the Melvin (zip 48454) population
- 0.0% of houses and apartments in Melvin (zip 48454), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.