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Melville

Learn about the people, housing, costs and businesses in Melville, Montana

Median Home$330,100
Median Rent$1,149/month
Population227
Leading IndustriesManufacturing · Wholesale Trade · Agriculture & Mining7% manufacturing
Home Value Growth+10.4% over 2 years
Retirees26% of residentswell above average
Homeowners80% of occupied units
NotableVeteran Community11% of residents · top 3% nationally
Melville
MT

Frequently Asked Questions

What are today's mortgage rates in Melville?

As of today, the 30-year fixed mortgage rate for Melville is approximately 6.933% (6.970% 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 Melville?

The median home value in Melville is $330k. The median monthly rent is $1,149. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Melville?

Home values in Melville have increased 10.4% 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 Melville?

Based on a typical all-in ownership cost of $1,016/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $44k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Melville is $77k/year.

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What industries drive the economy in Melville?

The largest employment sectors in Melville are agriculture and mining (20%) and public administration (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.