Market Overview
Home Prices in Melville, NY
The median home value in Melville, NY is $943,507 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.9% compared to a year ago and up 3.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Melville are priced130% above average. Melville is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Melville home values have risen by approximately20.3%, reflecting strong long-term appreciation in this market.
Price History
Melville Home Price Trend
City Comparison
Melville vs. National Median
At $943,507, homes in Melville cost 130% above the national median of $410,000. Buyers in Melville should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Melville?
20% Down Payment
$188,701
on $943,507
Monthly P&I
$4,921/mo
30-yr @ 6.8%
Total Monthly Est.
~$6,250/mo
incl. taxes & insurance
Income Needed
$250,000
gross annual (30% rule)
10% Down Option
$94,351
+ PMI applies
Loan Amount (20% dn)
$754,806
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Melville, NY?
The median home value in Melville is $943,507 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.9% year-over-year.
How much have home prices changed in Melville?
Over the past year, home values in Melville have increased by 0.9%. Over five years, prices have risen approximately 20.3%.
How much do I need to earn to buy a home in Melville?
To comfortably afford the median home price of $943,507 with a 20% down payment ($188,701) at today's rates (6.8%), you'd need a gross annual income of approximately $250,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Melville compare to the national average home price?
The national median home value is approximately $410,000. At $943,507, homes in Melville are 130% above the national average.
What metro area is Melville part of?
Melville is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.