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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Melbourne, KY Housing Affordability Index

Melbourne, Kentucky has an MBR Housing Affordability Index score of 148.2 (Highly Affordable) as of October 30, 2026, ranking 129th most affordable of 431 scored Kentucky cities, compared with 120.8 statewide and 97.4 nationally. On a median-priced $166,200 home with 20% down, the Kentucky average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $909, or 14% of the city’s $80,000 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Melbourne is updated every night from live Kentucky mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Melbourne MBR-HAI 148.2 Highly Affordable
Rank in Kentucky 129 of 431 1 = most affordable
Kentucky 120.8 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.27% Kentucky lenders
Median home value $166,200 U.S. Census Bureau

Melbourne is 27.4 points above the Kentucky score. Scores as of October 30, 2026. See the Kentucky index

View Melbourne Mortgage Rates

What It Takes to Buy in Melbourne

$909/mo
Principal & Interest
Median home, 20% down, 7.27%
$38,900
Income Needed
To keep the payment at 28% of income
$80,000
Median Household Income
Kentucky: $63,726
2.1x
Price-to-Income Ratio
Kentucky: 3.2x
$1,149/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$1,971/yr
Median Property Tax
1.19% of median value
26.3%
Owner Cost Burden
Owners spending 30%+ of income on housing
33.3%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Melbourne, Kentucky. The rate is the Kentucky average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Melbourne Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Melbourne, Kentucky score: 148.2 (Highly Affordable), ranked 129 of 431 Kentucky cities. monitorbankrates.com/housing-affordability-index/kentucky/melbourne”