Living in Melbourne, Kentucky
Cost of living, income, home prices, rent and demographics of Melbourne · Census data 2020–2024
Melbourne has 627 residents with a median age of 46.5. The median household income is $80,000 (26% higher than the Kentucky median), the median home value is $166,200, the median rent is $638/month.
Melbourne is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Melbourne at a glance
- Population
- 627
- Median age
- 46.5State: 39.1
- Median household income
- $80,000State: $63,726
- Median home value
- $166,200State: $205,600
- Median rent
- $638/moState: $967
- Homeowners
- 95.1%
- Bachelor's degree or higher
- 29.2%
- Average commute
- 24 min
Is Melbourne a good place to live?
Pros: Median household income 26% higher than the Kentucky median; home values 19% lower than the state median; an average commute of 24 minutes; unemployment of 2.8%.
Cons: A poverty rate of 24.3%.
The weather is best in May–June and August–September.
Cost of living in Melbourne
Housing is the biggest part of the cost of living. In Melbourne the median home value is $166,200, 50% lower than the U.S. median. Renters pay a median of $638 per month, which is 28.8% of household income. Homeowners with a mortgage pay $1,494 a month in housing costs.
Melbourne median household income
The median household income in Melbourne is $80,000 and the income per person is $26,350. 24.3% of residents live below the poverty line (Kentucky: 16.1%).
Housing in Melbourne: homes for sale and rent
- Housing units
- 200
- Owner-occupied
- 95.1%
- Renter-occupied
- 4.9%
- Vacant
- 8%Includes seasonal homes
- Median year built
- 1958
- Average household size
- 2.89
Melbourne demographics
- Population
- 627
- Median age
- 46.5
- Under 18
- 26.3%
- 65 and older
- 25.8%
- Households
- 184
- Foreign-born
- 0.6%
- Veterans
- 10.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Melbourne ›
Education in Melbourne
29.2% of adults 25 and older in Melbourne have a bachelor's degree or higher (Kentucky: 27.6%), and 10% have a graduate or professional degree.
Jobs and commute in Melbourne
- Unemployment rate
- 2.8%State: 4.9%
- Average commute
- 24 minState: 24 min
- Work from home
- 15.3%
- Drive alone
- 69%
- Public transit
- 0%
- Walk to work
- 7.9%
- Homes with broadband
- 89.7%
Melbourne vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Melbourne | 627 | $80,000 | $166,200 | $638 |
| Silver Grove | 1,008 | $46,595 | $107,700 | $587 |
| Coldstream | 1,540 | $231,538 | $849,600 | — |
| Salem Heights | 3,602 | $93,700 | $245,200 | — |
| Crestview | 505 | $93,750 | $173,900 | $1,521 |
| Fruit Hill | 4,200 | $107,254 | $271,300 | — |
| Forestville | 10,831 | $98,115 | $316,800 | $1,613 |
| Cold Spring | 6,341 | $75,000 | $253,600 | $1,191 |
| Sherwood | 3,808 | $125,729 | $301,200 | — |
More for people moving to Melbourne
Melbourne ZIP code ›Weather and climate ›Living in Melbourne: FAQ
What is the median household income in Melbourne, KY?
The median household income in Melbourne is $80,000, 26% higher than the Kentucky median of $63,726 (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 $166,200, compared with $205,600 in Kentucky.
How much is rent in Melbourne?
The median gross rent in Melbourne is $638 per month, about 28.8% of household income.
Is Melbourne, KY a good place to live?
Pluses: median household income 26% higher than the Kentucky median; home values 19% lower than the state median; an average commute of 24 minutes; unemployment of 2.8%. Minuses: a poverty rate of 24.3%.
What is the median age in Melbourne?
The median age in Melbourne is 46.5 years (Kentucky: 39.1).
How long is the commute in Melbourne?
The average commute to work in Melbourne is 24 minutes; 15.3% of workers work from home.
What is the unemployment rate in Melbourne?
The unemployment rate in Melbourne is 2.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Melbourne?
29.2% 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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