Melville, NY

Population: 18,985
Average annual home appreciation rate: 4.71%
Total of homes for sale in this market: 69
Median home price: $666,101
Median Rent: $2,755 per room
Home price range: 25.55% of homes are between $517,001 – $776,000
Median sales price: No data
Number of homes: 140
Median foreclosure sales price: $350,000
Foreclosure discount: NO DATA
Most common home type: 60.21% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 2.96%
Number of renters: 17.28%
Number of owner occupied: 82.72%
Number people living below poverty level: 5.14%
Unemployment rate: 4.70%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Melville area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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