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Melfa

Learn about the people, housing, costs and businesses in Melfa, Virginia

Median Home$239,400
Median Rent$1,010/month
Population381
Leading IndustriesWholesale Trade · Retail · Construction12% wholesale trade
Home Value Growth⬆⬆⬆+28.6% over 2 years
Retirees30% of residentswell above average
Homeowners72% of occupied units
NotableTransit93/100 · excellent transit access
NotableVeteran Community10% of residents · top 14% nationally
Melfa
VA

Frequently Asked Questions

What are today's mortgage rates in Melfa?

As of today, the 30-year fixed mortgage rate for Melfa is approximately 6.900% (6.936% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Melfa?

The median home value in Melfa is $239k. The median monthly rent is $1,010. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Melfa?

Home values in Melfa have increased 28.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Melfa?

Based on a typical all-in ownership cost of $825/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $35k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Melfa is $57k/year.

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What industries drive the economy in Melfa?

The largest employment sectors in Melfa are public administration (19%) and retail (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.