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Melville

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

Median Home$121,500
Population812
Leading IndustriesPublic Administration · Finance & Insurance · Wholesale Trade38% public administration
Home Value Growth+6.3% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners79% of occupied units
Melville
LA

Frequently Asked Questions

What are today's mortgage rates in Melville?

As of today, the 30-year fixed mortgage rate for Melville is approximately 7.007% (7.050% 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 $122k. Annual property taxes average $423. 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 6.3% over the past two years. This represents moderate growth. 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 $336/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $14k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Melville is $41k/year.

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What industries drive the economy in Melville?

The largest employment sectors in Melville are public administration (38%) and wholesale trade (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.