Home Values

Melbourne Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$148,400

  • 9.9% 1-year change
  • 3.9% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Cool

Buyers' Market
Sellers' Market

The median home value in Melbourne Metro is $148,400. Melbourne Metro home values have gone up 9.9% over the past year and Zillow predicts they will rise 3.9% within the next year. The median list price per square foot in Melbourne Metro is None. The median rent price in Melbourne Metro is $1,200, which is lower than the Florida median of $1,475.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Melbourne Metro is 9.2%, which is higher than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Melbourne Metro homeowners underwater on their mortgage is 21.4%, which is higher than Florida at 20.8%.

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Relative ZHVI
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Melbourne Metro Market Overview

Data through Apr 30, 2015
  • $148,400 ZHVI
  • 3.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Apr 30, 2016)
  • No data Median listing price
  • $150,950 Median sale price
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Melbourne Metro Market Health

Data through Apr 30, 2015
  • 0.8/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Feb 28, 2015)
  • 91 Average days on Zillow (Mar 31, 2015)
  • 21.4% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 9.2% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)
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Cities in Melbourne Metro

Name Median ZHVI
Cocoa Beach $214,100
Merritt Island $190,700
Rockledge $164,800
Name Median ZHVI
West Melbourne $161,500
Mims $140,500
Melbourne $111,900
Name Median ZHVI
Palm Bay $98,400
Cocoa $98,400
Titusville $85,800

Listings & Sales

Data through Apr 30, 2015
  • No recent data Median list price / sq ft
  • $100 Median sale price / sq ft
  • No data Listings with price cut
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Melbourne Metro Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $1,212 Melbourne Metro
    $1,447 Florida
    $1,364 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $1,200 Rent list price
  • $0.90 Rent list price / sq ft
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