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The Melrose Heights market
Market report · Neighbourhood · Apr 2026
The Melrose Heights market, in numbers
Part of Miami — see the Miami report
Homes in Melrose Heights typically sell in about 96 days, prices are down 67.0% on a year ago.
Some comparisons are hidden until at least 3 transactions close in a month. Medians below are drawn from very small samples — treat them as indicative.
Median sale price
$584k
↓ −67.0% YoY
2 sales closed in Apr 2026
Low sampleMedian rent
$1,800/mo
1 leases closed in Jul 2026
Low sampleTime to sell
96 days
typical days on market
Low sampleDays from listing to going under contract.
Sells 2 days faster than Miamidays on market
Your questions, answered
Straight answers from Melrose Heights’s closed transactions.
What does a home here cost?
The median sale closed at $584k in Apr 2026, down 67.0% on a year ago. Typical sales ranged $432k–$735k.
What income do you need to buy here?
At a 6.5% 30-year mortgage with 20% down, the median home runs about $3,874/mo including taxes — comfortable at a household income around $155k a year, using the 30% rule. Renting instead costs $1,800/mo.
Is now a good time to buy?
Too few recent sales for a confident read — see the longer-run trend below.
How fast do homes sell?
About 96 days from listing to contract in Apr 2026. The pace picks up toward October and slows around November.
How much room is there to negotiate?
Not enough closed sales this month to measure — the price-cut chart below is the best proxy.
When is the best time to list?
Closings peak in October and bottom out around November. Listing four to six weeks ahead of the peak historically gets the most eyes.
Is it a good rental investment?
Yield needs at least 3 closed sales and 3 closed leases in a month — this area doesn’t clear that bar yet.
Buying vs renting
Price-to-rent ratio is 27.0 — buying typically starts to beat renting after roughly 10+ years here.
To buy — median sale price
Sale price, $
$584k↓ −67.0% YoY
Apr 2026 — median $584k · 2 sales · 96 days on market · low sample
$0
$500k
$1.0M
$1.5M
Aug ’25
Oct ’25
Dec ’25
Feb ’26
Apr ’26
Jun ’26
To rent — median monthly rent
Monthly rent, $
$1,800/mo
Jul 2026 — median $1,800/mo · 1 leases · 67 days on market · low sample
$1,000
$1,500
$2,000
$2,500
$3,000
Aug ’25
Oct ’25
Dec ’25
Feb ’26
Apr ’26
Jun ’26
MedianTypical range (5th–95th percentile)3+ closingsUnder 3 (low sample)No closings (activity only)Tap or hover any month for its numbers.
What each size costs
Medians over the last 12 months.
Beds
To buy
To rent
Volume
Studio
—
$1,200/mo
1 closed Low sample
1 bed
—
$1,675/mo
2 closed Low sample
2 beds
$550k
$2,093/mo
13 closed Low sample
3 beds
$752k
—
1 closed Low sample
What sells here
Sales mix and median price by property type, last 12 months.
House
$651k
100% of sales · 2 closed
Low sampleMarket depth
Supply and demand
Listings per month
Jul 2026 — 0 closed · 2 new · 26 active
0
10
20
30
Aug ’24
Nov ’24
Feb ’25
May ’25
Aug ’25
Nov ’25
Feb ’26
May ’26
ClosedActive (on market)New listings
Seasonality
Avg closings
Listings move fastest in October
0
0.5
1
1.5
2
J
F
M
A
M
J
J
A
S
O
N
D
Average closings by calendar month, drawn from at least two years of history.
Price-cut pressure
% of active listings
Jul 2026 — 35% of active listings cut · median cut 8.1%
0%
10%
20%
30%
40%
50%
Aug ’24
Nov ’24
Feb ’25
May ’25
Aug ’25
Nov ’25
Feb ’26
May ’26
3-month averageSingle month
HOA fees per sqft
$ per sqft, monthly
$1.80 per sqft · Apr 2025
$1.77
$1.78
$1.79
$1.80
$1.81
Aug ’24
Nov ’24
Feb ’25
May ’25
Aug ’25
Nov ’25
Feb ’26
May ’26
Median monthly HOA fee per square foot among closed sales.
How neighbourhoods compare across Miami
Median sale price, last 12 months. Tap a row to open its report.
Based on 42 closed transactions over the period shown · Updated Aug 9, 2026 · Medians drawn from fewer than 3 closings are flagged as low sample.