Affordability evidence
Melbourne, FL home values, income, and owner costs
A borrower-focused reading of the latest ACS value, income, and owner-cost evidence for Melbourne, FL.
Source: U.S. Census Bureau
Last updated . Article facts reviewed through this date. Time-sensitive figures show their own as-of dates.
The published evidence provides the starting point: In Melbourne, FL, the 2024 ACS reports a median owner-occupied home value of $306,400, median household income of $66,991, and median selected monthly owner costs of $1,689 for owners with a mortgage. In practical terms, together, those three reference points can still help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,689 measure combines recurring ownership expenses in place of real estate taxes alone. For the decision at hand, a useful affordability review starts with $306,400, $66,991, and $1,689, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.
Melbourne, FL's $306,400 median home-value estimate is below the statewide $359,000 estimate, with a reported city-to-state gap of 14.7%. In practical terms, that 14.7% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Melbourne, FL.