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Melvindale-North Allen Park

Learn about the people, housing, costs and businesses in Melvindale-North Allen Park, Michigan

Median Home$352,729
Median Rent$1,446/month
Population79,786
Leading IndustriesHealthcare · Arts, Food & Hospitality · Professional Services13% healthcare
Home Value Growth⬆⬆+13.1% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners64% of occupied units
NotableHighly Educated22% hold a bachelor's degree · top 24% nationally
Melvindale-North Allen Park
MI

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Frequently Asked Questions

What are today's mortgage rates in Melvindale-North Allen Park?

As of today, the 30-year fixed mortgage rate for Melvindale-North Allen Park is approximately 6.971% (7.010% 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 Melvindale-North Allen Park
What is the median home price in Melvindale-North Allen Park?

The median home value in Melvindale-North Allen Park is $353k. The median monthly rent is $1,446. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Melvindale-North Allen Park?

Home values in Melvindale-North Allen Park have increased 13.1% 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 Melvindale-North Allen Park?

Based on a typical all-in ownership cost of $1,507/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $65k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Melvindale-North Allen Park is $78k/year.

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What industries drive the economy in Melvindale-North Allen Park?

The largest employment sectors in Melvindale-North Allen Park are public administration (22%) and healthcare (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.