Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 12,632, 4,407 total housing units (homes and apartments), and a median house value of $95,903, house prices in Melvindale are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Melvindale, accounting for 68.95% of the city's housing units. Other types of housing that are prevalent in Melvindale include large apartment complexes or high rise apartments ( 22.34%), duplexes, homes converted to apartments or other small apartment buildings ( 5.70%), and a few row houses and other attached homes ( 2.76%).
People in Melvindale primarily live in small (one, two or no bedroom) single-family detached homes. Melvindale has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Melvindale's housing was primarily built during this period, from the '40s through the '60s. A full 59.59% of the city's housing hails from this era. Other housing ages represented in Melvindale include homes built before 1939 ( 17.11%) and housing constructed between 1970-1999 ( 15.67%). There's also some housing in Melvindale built between 2000 and later ( 7.63%).
Appreciation rates for homes in Melvindale have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 106.25%, which ranks in the top 30% nationwide. This equates to an annual average Melvindale house appreciation rate of 7.51%.
Over the last year, Melvindale appreciation rates have trailed the rest of the nation. In the last twelve months, Melvindale's appreciation rate has been 4.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Melvindale were at -0.26%, which equates to an annual appreciation rate of -1.02%.
Relative to Michigan, our data show that Melvindale's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.
$95,903
for Michigan
for nation
4,407
$1,419 / per month