Living in Melbourne, Iowa
Cost of living, income, home prices, rent and demographics of Melbourne · Census data 2020–2024
Melbourne has 804 residents with a median age of 38.8. The median household income is $71,667 (5% lower than the Iowa median), the median home value is $155,400, the median rent is $756/month.
Melbourne is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Melbourne at a glance
- Population
- 804
- Median age
- 38.8State: 38.6
- Median household income
- $71,667State: $75,059
- Median home value
- $155,400State: $208,000
- Median rent
- $756/moState: $972
- Homeowners
- 75.6%
- Bachelor's degree or higher
- 21%
- Average commute
- 28 min
Is Melbourne a good place to live?
Pros: Home values 25% lower than the state median.
Cons: Median household income 5% lower than the Iowa median; an average commute of 28 minutes; unemployment of 5.2%; a poverty rate of 11.7%.
The weather is best in June to September.
Cost of living in Melbourne
Housing is the biggest part of the cost of living. In Melbourne the median home value is $155,400, 53% lower than the U.S. median. Renters pay a median of $756 per month, which is 22.9% of household income. Homeowners with a mortgage pay $1,392 a month in housing costs.
Melbourne median household income
The median household income in Melbourne is $71,667 and the income per person is $35,272. 11.7% of residents live below the poverty line (Iowa: 11.1%).
Housing in Melbourne: homes for sale and rent
- Housing units
- 338
- Owner-occupied
- 75.6%
- Renter-occupied
- 24.4%
- Vacant
- 4.1%Includes seasonal homes
- Median year built
- 1962
- Average household size
- 2.48
Melbourne demographics
- Population
- 804
- Median age
- 38.8
- Under 18
- 28%
- 65 and older
- 19%
- Households
- 324
- Foreign-born
- 0.9%
- Veterans
- 7.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Melbourne ›
Education in Melbourne
21% of adults 25 and older in Melbourne have a bachelor's degree or higher (Iowa: 31.4%), and 5% have a graduate or professional degree.
Jobs and commute in Melbourne
- Unemployment rate
- 5.2%State: 3.6%
- Average commute
- 28 minState: 20 min
- Work from home
- 5.6%
- Drive alone
- 85.2%
- Public transit
- 0%
- Walk to work
- 1.3%
- Homes with broadband
- 92%
Melbourne vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Melbourne | 804 | $71,667 | $155,400 | $756 |
| Rhodes | 265 | $73,083 | $98,000 | $491 |
| State Center | 1,412 | $83,942 | $167,400 | $766 |
| Haverhill | 142 | $61,607 | $115,300 | — |
| Baxter | 1,247 | $60,952 | $166,700 | $900 |
| Laurel | 278 | $61,250 | $103,100 | $666 |
| Collins | 533 | $67,500 | $159,200 | $862 |
| Marshalltown | 27,626 | $69,068 | $127,700 | $891 |
| Colo | 686 | $64,000 | $152,000 | $950 |
More for people moving to Melbourne
Melbourne ZIP code ›Weather and climate ›Living in Melbourne: FAQ
What is the median household income in Melbourne, IA?
The median household income in Melbourne is $71,667, 5% lower than the Iowa median of $75,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Melbourne?
The median home value in Melbourne is $155,400, compared with $208,000 in Iowa.
How much is rent in Melbourne?
The median gross rent in Melbourne is $756 per month, about 22.9% of household income.
Is Melbourne, IA a good place to live?
Pluses: home values 25% lower than the state median. Minuses: median household income 5% lower than the Iowa median; an average commute of 28 minutes; unemployment of 5.2%; a poverty rate of 11.7%.
What is the median age in Melbourne?
The median age in Melbourne is 38.8 years (Iowa: 38.6).
How long is the commute in Melbourne?
The average commute to work in Melbourne is 28 minutes; 5.6% of workers work from home.
What is the unemployment rate in Melbourne?
The unemployment rate in Melbourne is 5.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Melbourne?
21% of adults in Melbourne have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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