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There are currently 3,861 real estate properties in Melvindale, MI, with a median automated valuation model (AVM) price of $120,608.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Melvindale, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Melvindale, MI, is $126,325.00, with the most expensive house in Melvindale, MI, topping out at $1,189,000.00 and the cheapest home in Melvindale, MI, clocking in at $19,088.00. In other words, there’s something for every potential homebuyer or savvy investor in Melvindale, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Melvindale, MI, is on a rollercoaster ride. The average rent price in Melvindale, MI, is $968.00. Indeed, when looking to rent in Melvindale, MI, you can expect to pay as little as $600.00 or as much as $2,260.00, with the average rent median estimated to be $950.00. The good news is that finding an affordable and desirable property to rent in Melvindale, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Melvindale is located in Wayne, Michigan, with an estimated municipal population of 10,248 residents. All of the best foreclosed homes for sale in Melvindale are located in the following zip code areas on Foreclosure.com: 48122. The estimated population per square kilometer (.62 miles) in Melvindale is 1,453.
So, about how much do homes cost in Melvindale? The most recent median value of resident-owned homes in Melvindale is 62,366. An estimated 51 percent of households in Melvindale own their homes, with an average family size of 3.9. The median household income in Melvindale is 41,629, with9 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Melvindale, the median commute time of resident workers (in minutes) is 24. And last, but certainly not least, are you looking for homes to rent in Melvindale? If so, the average rent price paid by renters in Melvindale is 856, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Melvindale, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Melvindale is 31.5, split between 50.8 percent male versus 49.2 female. The percentage of residents who report being married in Melvindale is 36.1, with an average family size of 3.9.
The percentage of residents who report their race in Melvindale is as follows:
| White | 68.2% |
| Black / African American | 16.2% |
| Asian | 1.6% |
| American Indian / Alaskan Native | 0.2% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 5.3% |
| Other | 8.4% |
Looking for family-friendly neighborhoods in and/or near Melvindale? Or maybe you are searching for 55+ active adult communities in and/or near Melvindale?
The percentage of residents who report their age in Melvindale is as follows:
| Under 10 | 16.8% |
| Aged 10-19 | 16.6% |
| 20s | 14.4% |
| 30s | 11.5% |
| 40s | 12.4% |
| 50s | 12.5% |
| 60s | 9.1% |
| 70s | 5.4% |
| 80+ | 1.1% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Melvindale with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Melvindale.
How do you know that living in -- or moving to -- Melvindale is right where you need to be? Perhaps you grew up in Melvindale or already live nearby; therefore, the decision to buy a home in Melvindale is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Melvindale for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Melvindale:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Melvindale.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Melvindale can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Melvindale, meanwhile, can field multiple offers from more qualified buyers.
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