Housing in Melrose, MN
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — November 2025Median Sale Price
$235,000
Median List Price
$394,900
Price Per Sq Ft
$133
Days on Market
91
Active Inventory
5
Months of Supply
1.7
Seller's market
Zillow Home Value
$227,344
ZHVI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
0.0%
Off Market in 2 Weeks
50.0%
Sale-to-List Ratio
99.3%
Buyer's market
Market Activity
Source: RedfinHomes Sold
3
New Listings
2
Pending Sales
2
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$133
Median List $/SF
$193
Melrose vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with under 10,000 residents. Melrose is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$198,300
Median Rent
$1,061
Total Housing Units
1,655
Vacancy Rate
6.2%
Owner Occupied
71.8%
Renter Occupied
28.2%
Median Property Tax
$1,878
per year
Monthly Cost (w/ Mortgage)
$763
Housing Types
The current median sale price in Melrose, MN is $235,000 according to Redfin data. Homes spend a median of 91 days on the market. 0.0% of homes sold above asking price. The market has 1.7 months of supply. The median price per square foot is $133. The median rent is $1,061 per month (Census ACS). About 71.8% of housing units are owner-occupied. The median year homes were built is 1967. There are 1,655 total housing units.