Melody Hill, IN housing market
Homes typically sell in 6 days, close to asking.
Home values, sales, trends and how Melody Hill compares with the towns next door — updated as new data is published.
Melody Hill at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Home prices up 51% in 5 years
The federal house price index for the ZIP code around Melody Hill rose 51% over the past 5 years, about the same as across Indiana. Last year prices rose 4.2%. Carrying the Census median home value forward with that index puts the typical Melody Hill home at roughly $330,000 today.
Show as a table
| Year | Change that year | Since 2000 | Indiana since 2000 |
|---|---|---|---|
| 2025 | +4.2% | +110% | +126% |
| 2024 | +4.5% | +101% | +117% |
| 2023 | +6.9% | +92% | +106% |
| 2022 | +14% | +80% | +90% |
| 2021 | +13% | +58% | +65% |
| 2020 | +3.8% | +39% | +48% |
| 2019 | +4.6% | +34% | +42% |
| 2018 | +3.8% | +28% | +34% |
| 2017 | +3.5% | +24% | +26% |
| 2016 | +1.9% | +19% | +20% |
| 2015 | +2.5% | +17% | +16% |
| 2014 | +1.6% | +14% | +13% |
| 2013 | +1% | +12% | +10% |
| 2012 | −0.7% | +11% | +9% |
| 2011 | −0.4% | +12% | +9.6% |
| 2010 | −1% | +13% | +12% |
| 2009 | −1.3% | +14% | +14% |
| 2008 | −1.4% | +15% | +17% |
| 2007 | +0.3% | +17% | +18% |
| 2006 | +2.4% | +17% | +16% |
| 2005 | +2.2% | +14% | +14% |
| 2004 | +2.6% | +11% | +10% |
| 2003 | +2% | +8.6% | +7.8% |
| 2002 | +2.4% | +6.5% | +6.3% |
| 2001 | +4% | +4% | +4.3% |
| 2000 | — | — | — |
How Melody Hill ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 47711, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
Melody Hill and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Melody Hill | — | +4.2%† | $1,140 | — | $93,906 |
| Evansville | $205K | +4.3% | $1,170 | 211 | $53,387 |
| Knight | — | +1.6%† | $1,200 | — | $58,227 |
| Center | — | +3.8%† | $1,300 | — | $78,964 |
† FHFA price index change, where Zillow has no home value for the town.
2.1 years of income
The typical Melody Hill home costs about 2.1 years of the town's median household income, less than across Indiana (3.6 years).
How Melody Hill ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,140
HUD's Fair Market Rent for a two-bedroom in Melody Hill is $1,140 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Melody Hill pay a median of $1,091. A two-bedroom takes about 15% of the town's median household income.
Studio $870 · 4 bedrooms $1,580
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (47711; Evansville, IN MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.