Why Live in Melbourne
Melbourne, a neighborhood in Silver Grove, offers a mix of housing options primarily concentrated near the Ohio River and along Mary Ingles Highway. Homebuyers can find 1920s bungalows and 1960s split-level houses on compact lots, while the outskirts feature larger properties with 1990s Traditional architecture, 19th-century farms, and ranch-style houses. Properties here sell quickly, averaging 15 days on the market. The neighborhood is characterized by its open fields and forested areas, with St. Annes Woods and Wetlands providing hiking trails and natural scenery. Pendery Park, less than 2 miles away, offers extensive sports facilities. Local attractions include StoneBrook Winery, part of the Northern Kentucky Wine Trail, and Neltner's Farm, known for its Fall Fest and fresh produce. Melbourne is served by highly rated schools, including Crossroads Elementary, Campbell County Middle, and Campbell County High, which offer a range of AP courses and career pathways. While retail and dining options within the neighborhood are limited, residents frequent Pepperoncini's Pizza and Melbourne Roadhouse. For more extensive shopping and dining, Alexandria Pike and nearby Cincinnati provide ample choices. Public transportation is limited, so most residents rely on personal vehicles, with Downtown Cincinnati just over 10 miles away. The neighborhood has a lower crime rate compared to the national average, contributing to its appeal for families and individuals seeking a peaceful environment.
Frequently Asked Questions
What is the average home price in Melbourne, KY?
Homes for sale in Melbourne, KY have an average home price of $290,505.
Are home prices dropping in Melbourne?
Yes, home prices in Melbourne are down 6% in the last 12 months.
How many homes have sold over the last 12 months in Melbourne, KY?
14 homes have sold in Melbourne, KY over the last 12 months.
What are the most popular zip codes in Melbourne, KY?
How much do you need to make to afford a house in Melbourne?
The median home price in Melbourne is $267,500. If you put a 20% down payment of $53,500 and had a 30-year fixed mortgage with an interest rate of 6.77%, your estimated principal and interest payment would be $1,390 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $60K a year to afford the median home price in Melbourne.
How are the schools in Melbourne, KY?
Home Trends in Melbourne, KY
On average, homes in Melbourne, KY sell after 8 days on the market compared to the national average of 50 days. The median sale price for homes in Melbourne, KY over the last 12 months is $217,250, up 7% from the median home sale price over the previous 12 months.
Median Sale Price
$217,250
Median Single Family Sale Price
$260,000
Average Price Per Sq Ft
$169
Number of Homes for Sale
4
Last 12 months Home Sales
14
Median List Price
$267,500
Median Change From 1st List Price
5%
Median Home Sale Price YoY Change
7%