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Real Estate Prices & Overview

Melrose median real estate price is $308,861, which is less expensive than 72.3% of New York neighborhoods and 55.9% of all U.S. neighborhoods.

The average rental price in Melrose is currently $1,362, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 88.3% of New York neighborhoods.

Melrose is a rural neighborhood (based on population density) located in Troy, New York.

Melrose real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Melrose neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Melrose has a 10.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.4% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (5.9%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

In a nation where 1 out of every 4 children lives in poverty, the Melrose neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Occupations

The Melrose neighborhood has a greater proportion of government workers living in it than 95.5% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Diversity

Did you know that the Melrose neighborhood has more Ukrainian and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Ukrainian ancestry and 9.9% have French ancestry.

Melrose is also pretty special linguistically. Significantly, 10.2% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Melrose neighborhood in Troy are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.0% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Melrose neighborhood, 36.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 23.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.2%), and 18.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Melrose neighborhood is English, spoken by 99.1% of households. Some people also speak Polish (10.2%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Melrose neighborhood in Troy, NY, residents most commonly identify their ethnicity or ancestry as Irish (22.1%). There are also a number of people of German ancestry (18.7%), and residents who report Italian roots (14.7%), and some of the residents are also of French ancestry (9.9%), along with some English ancestry residents (7.9%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Melrose neighborhood spend between 15 and 30 minutes commuting one-way to work (47.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (84.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (8.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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