Housing in Melrose

A typical Melrose home is worth roughly $263,000

Typical home value

$263K

MI $266K

Estimate

2-bedroom rent

$1,070

a month, utilities in · HUD

Median tax bill

$1,841

MI $2,904

What kind of housing town is Melrose?

Read from the numbers below. The page puts what stands out first.

A second-home town25% of homes are seasonal or vacation homes.A town of owners91% of households own their home.

★ What stands out · The homes

91% of Melrose households own their home

Half of Melrose’s homes were built before 1977.

Owners and renters

Own 91%Rent 9%

Michigan: 73% own.

1977

typical home built · MI 1972

$1,841

median property tax bill · MI $2,904

0.70%

of a home’s value, a year in tax · MI 1.25%

25%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024.

Affordability

A typical home costs 2.7 years of income

Less than across Michigan (3.7 years). Try your own numbers below.

You could afford about

$388,000

Typical Melrose home $263K

That covers a typical Melrose home, with $126K to spare.

The typical home, each month

$1,530

Loan $1,300Tax $150Insurance $80

A two-bedroom rents for about $1,070 a month here, $460 less than owning.

Where your budget reaches nearby

Resort$395K Evangeline$384K Bear Creek$365K Boyne Valley$203K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Melrose’s typical property tax (0.70% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $1,070

Renters already here pay a median of $1,750.

Fair Market Rent a month, utilities included

Studio$750

1 bedroom$820

2 bedrooms$1,070

3 bedrooms$1,450

4 bedrooms$1,620

of households rent · MI 27%

renter households

31%

of renters spend 30%+ of income on rent · MI 50%

13%

of the median income, for a two-bedroom

$1,750

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Antrim County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Melrose vs. its neighbors

Melrose is the 2nd least expensive of 5 neighboring towns. Tap one to see its housing page.

Resort$395K Evangeline$384K Bear Creek$365K Melrose$263K Boyne Valley$203K

Compare more

Town	Typical value	1-yr change	2-bed rent	New homes 2025	Median income
Melrose	$263K*	—	$1,070	—	$97,059
Resort	$395K*	+4.7%†	$1,260	—	$103,929
Evangeline	$384K*	+5.3%†	$1,110	—	$77,938
Bear Creek	$365K*	+4.6%†	$1,250	31	$71,090
Boyne Valley	$203K*	—	$1,050	—	$76,653

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Melrose buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Melrose still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. 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. The calculator is an estimate, not a loan offer.