Melbourne, KY housing market
The typical Melbourne home is worth about $310,000, about the same as a year ago, 33% above the Kentucky typical home.
Home values, sales, trends and how Melbourne compares with the towns next door — updated as new data is published.
Melbourne at a glance
Typical home value, 2016–2026
Show as a table
| January | Melbourne | Kentucky |
|---|---|---|
| 2017 | $219,000 | $131,000 |
| 2018 | $222,000 | $138,000 |
| 2019 | $227,000 | $146,000 |
| 2020 | $242,000 | $155,000 |
| 2021 | $286,000 | $173,000 |
| 2022 | $290,000 | $191,000 |
| 2023 | $310,000 | $207,000 |
| 2024 | $300,000 | $216,000 |
| 2025 | $296,000 | $229,000 |
| 2026 | $310,000 | $233,000 |
| August 2026 | $310,000 | $233,000 |
Melbourne and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Melbourne | $310K | +0.2% | $980 | $80,000 |
| Silver Grove | $190K | −3.2% | $1,250 | $46,595 |
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $980
HUD's Fair Market Rent for a two-bedroom in Melbourne is $980 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Melbourne pay a median of $638, so moving in tends to cost more than staying put.
Studio $690 · 4 bedrooms $1,440
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (41059; Cincinnati, OH-KY-IN HUD Metro FMR Area), 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, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.