Get & compare mortgage quotes anonymously Start in My Home

Safe Rate Local

Melrose

Learn about the people, housing, costs and businesses in Melrose, Wisconsin

Median Home$237,600
Median Rent$853/month
Population527
Leading IndustriesProfessional Services · Education2% professional services
Home Value Growth⬆⬆+20.4% over 2 years
Young Adults29% of residentsslightly above average
Homeowners86% of occupied units
NotableVeteran Community9% of residents · top 22% nationally
Melrose
WI

Frequently Asked Questions

What are today's mortgage rates in Melrose?

As of today, the 30-year fixed mortgage rate for Melrose is approximately 6.942% (6.980% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

View current rates for Melrose
What is the median home price in Melrose?

The median home value in Melrose is $238k. The median monthly rent is $853. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Melrose?

Home values in Melrose have increased 20.4% 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 Melrose?

Based on a typical all-in ownership cost of $1,107/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $47k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Melrose is $74k/year.

Calculate your buying power
What industries drive the economy in Melrose?

The largest employment sectors in Melrose are public administration (24%) and healthcare (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.