New Listing
$39,900
742 Floyd Bennett Dr Unit A155
Melbourne, FL 32901
2 bd2 ba560 sqft$71/ft²
Mobile home
Peggy Heiser · Tropical Haven
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Melbourne, FL Housing Market
Leaning buyer's-1.6% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Melbourne, FL is worth $356,996, fell 1.6% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $315,000 (through May 2026). With 3.6 months of supply and homes going under contract in about 55 days, Melbourne is a leaning buyer's. At today's 7.03% 30-year fixed rate, 20% down on a $356,996 home is about $1,906/mo in principal and interest.
Key numbers for Melbourne, FL
Typical home value
$356,996
-1.6% in 12 months
Zillow, August 2026
Typical asking rent
$1,823/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$315,000
Last published period
Redfin, through May 2026
Days on market
55
Average pace
Redfin, through May 2026
Active listings
412
3.6 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$64,504
Home costs 5.5x income
U.S. Census ACS, 2023
Sale-to-list ratio
95.6%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Melbourne a buyer's or seller's market?
Leaning buyer's3.6 months of supply55 days on market95.6% of asking
Melbourne, FL is a leaning buyer's, based on 3.6 months of supply and homes selling in about 55 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Melbourne housing market data show?
Every row below is Redfin's final published month for Melbourne, FL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $315,000 |
| Median list price | $327,900 |
| Median price per sq ft | $209/sq ft |
| Median days on market | 55 days |
| Active inventory | 412 listings |
| Months of supply | 3.6 months |
| Sale-to-list price ratio | 95.6% |
| Homes sold (that month) | 113 |
| New listings (that month) | 139 |
| Listings with a price cut | 33.7% |
| Market condition | Leaning buyer's |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Melbourne is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Melbourne is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Melbourne home prices moved?
Over the last three years the median sale price in Melbourne, FL fell 1.6%, from $320,000 to $315,000. The live Zillow value series has fell 1.6% in the last 12 months, which is the more current read now that Redfin's series has stopped. 33.7% of Melbourne listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 3.6 months while the sale-to-list ratio slips below its current 95.6%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Melbourne?
Priced off the typical home value of $356,996 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $71,399 | $285,597 | $1,906/mo |
| 5% | $17,850 | $339,146 | $2,263/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,906, that implies roughly $81,679 a year before you add taxes and insurance. The median household in Melbourne earns $64,504, about $17,175 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 5.5x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Melbourne in the next 12 months?
Tell us your timeline. We send the Melbourne market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Melbourne?
Typical asking rent in Melbourne, FL is $1,823/mo, against a typical home value of $356,996. That is a price-to-rent ratio of 16.3x, which means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Compared head to head, 20% down puts principal and interest at $1,906 a month — $83 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Melbourne?
Active listings in Melbourne, FL went from 537 in May 2025 to 412 in May 2026, a -23.3% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 527 | 141 |
| July 2025 | 492 | 142 |
| August 2025 | 496 | 128 |
| September 2025 | 497 | 136 |
| October 2025 | 452 | 130 |
| November 2025 | 445 | 105 |
| December 2025 | 396 | 88 |
| January 2026 | 459 | 192 |
| February 2026 | 448 | 134 |
| March 2026 | 443 | 143 |
| April 2026 | 443 | 156 |
| May 2026 | 412 | 139 |
Redfin, through May 2026
How does Melbourne compare to Florida and the U.S.?
Melbourne homes sell for $315,000 — 25% below the Florida median of $421,500. Against the national median of $410,700, Melbourne runs 23% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Melbourne, FL | $315,000 | not published | 55 days |
| Florida statewide | $421,500 | +2.6% | 66 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Melbourne
What buyers should watch
- Months of supply, currently 3.6. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 33.7%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $357 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $356,996 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Melbourne listing goes under contract in 55 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 95.6% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Melbourne added 139 new listings against 113 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved -1.6% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Melbourne varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Melbourne
There are currently 412 homes listed for sale in Melbourne, Florida. The median listing price is $328K. Featured listings range from $39,900 to $959,000.
New Listing
43
$68,900
2112 Harbor Point Ct Unit 598
Melbourne, FL 32904
2 bd2 ba1,248 sqft$55/ft²
Mobile home
View photos & details
New Listing
15
$139,900
2263 Monroe St NE
Melbourne, FL 32905
3 bd2 ba1,480 sqft$95/ft²
House6,970 sqft lot
Shirley Weems · Waterman Real Estate, Inc.
View photos & details
New Listing
42
$235,000
7667 N Wickham Rd Apt 302
Melbourne, FL 32940
3 bd2 ba1,256 sqft$187/ft²
Condo
Donell Knight Ii · Blue Marlin Real Estate
View photos & details
New Listing
24
$255,000
1322 Hampton Park Ln
Melbourne, FL 32940
2 bd3 ba1,110 sqft$230/ft²
Townhouse1,742 sqft lot
Rick Drouin · Real Estate Solutions Brevard
View photos & details
New Listing
31
$339,500
2303 Early Dawn Cir
Melbourne, FL 32935
3 bd2 ba1,341 sqft$253/ft²
House5,663 sqft lot
Jonathan Minerick · Homecoin.com
View photos & details
New Listing
80
$399,990
3252 Chica Cir
Melbourne, FL 32904
4 bd3 ba2,252 sqft$178/ft²
House5,663 sqft lot
REALTY ONE GROUP MVP
View photos & details
New Listing
69
$554,900
2941 Camberly Cir
Melbourne, FL 32940
4 bd3 ba2,195 sqft$253/ft²
House9,148 sqft lot
Kimberly Fouts · Blue Marlin Real Estate
View photos & details
New Listing
63
$579,000
4498 Lady Hawk Way
Melbourne, FL 32904
4 bd2 ba2,321 sqft$249/ft²
House9,583 sqft lot
Dawn Dinoto · Real Broker, LLC
View photos & details
New Listing
54
$700,000
3513 Coastline Ln
Melbourne, FL 32940
3 bd2 ba1,921 sqft$364/ft²
House6,534 sqft lot
David Jelinek · EXP Realty, LLC
View photos & details
New Listing
45
$825,000
4101 Careywood Dr
Melbourne, FL 32934
4 bd3 ba2,802 sqft$294/ft²
House1.02 acres
Dee Dee Davis · BHHS Florida Realty
View photos & details
New Listing
55
$959,000
2846 Silverlefe Ln
Melbourne, FL 32940
5 bd5 ba3,108 sqft$309/ft²
House10,890 sqft lot
Megan Ross · Denovo Realty
View photos & details
Looking to buy in Melbourne?
Get connected with a local real estate expert — free, no obligation.
Active listings
412
Homes on market
Median list price
$328K
Avg. days on market
55
Days until sale
New this week
139
Newly listed
Price drops:33.7%of listings
Sale-to-list:95.6%
How much do homes cost in Melbourne by property type?
How the Melbourne, FL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $330,000 | $219/sq ft | 85 | 43 days |
| Condo / co-op | $175,000 | $154/sq ft | 11 | 179 days |
| Townhouse | $275,000 | $188/sq ft | 17 | 89 days |
Who lives in Melbourne?
American Community Survey estimates for Melbourne. U.S. Census ACS, 2023
Population
85,718
Households
35,954
Median income
$64,504/yr
Median age
42.3 years
Owner-occupied
60.3%
Median home value
$272,900
Median gross rent
$1,411/mo
Mean commute
22.4 min
60.3% of occupied homes in Melbourne are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $272,900 against Zillow's $356,996 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,411/mo, below Zillow's $1,823/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Melbourne?
18 schools tracked · 12,692 students
The largest public schools serving Melbourne, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
MELBOURNE SENIOR HIGH SCHOOL
Grades 9-12 · 2,176 students
EAU GALLIE HIGH SCHOOL
Grades 8-12 · 1,490 students
PALM BAY MAGNET SENIOR HIGH SCHOOL
Grades 9-12 · 1,411 students
WEST SHORE JUNIOR/SENIOR HIGH SCHOOL
Grades 7-12 · 931 students
QUEST ELEMENTARY SCHOOL
Grades PK-6 · 714 students
LONGLEAF ELEMENTARY SCHOOL
Grades PK-6 · 606 students
SUNTREE ELEMENTARY SCHOOL
Grades PK-6 · 599 students
DR. W.J. CREEL ELEMENTARY SCHOOL
Grades PK-6 · 588 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Melbourne, FL?
Ordered by distance from Melbourne, not by size. Compare Melbourne side by side with any of them.
Which ZIP codes are in Melbourne?
These are the ZIP codes we see on active Melbourne listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Melbourne housing market FAQ
Is Melbourne a buyer's or seller's market?
Melbourne, FL is currently a leaning buyer's. That read comes from 3.6 months of supply, homes going under contract in about 55 days, and sellers getting 95.6% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Melbourne?
The typical home in Melbourne, FL is worth $356,996 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $315,000, about $209 per square foot.
Is Melbourne cheaper than the rest of Florida?
Melbourne's median sale price of $315,000 is 25% lower than the Florida statewide median of $421,500, and 23% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Melbourne?
Homes in Melbourne, FL spent a median of 55 days on market before going under contract, versus 66 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Melbourne?
At the current 30-year fixed rate of 7.03%, 20% down on a $356,996 home is about $1,906 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $81,679 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $64,504.
Are home prices rising in Melbourne?
The typical home value in Melbourne, FL fell 1.6% over the last 12 months, from $362,802 to $356,996 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Melbourne?
Melbourne ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Melbourne?
That depends on your timeline, not on a headline. What the data says today: Melbourne, FL is a leaning buyer's with 3.6 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 16.3x means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Properties Incorporated publishes the data; it does not give financial advice.
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