Melbourne, IA
Population 714 · Iowa
About Melbourne, IA
Melbourne is a small community in Iowa with a population of 714 residents. The median household income is $82,857 per year, which is above the national average. The median age in Melbourne is 39.3 years.
Housing in Melbourne has a median home value of $147,400 and median monthly rent of $722. Of the 312 total housing units, the majority are owner-occupied, with 229 owner-occupied and 77 renter-occupied units.
The unemployment rate in Melbourne is 4.5% and the poverty rate is 4.8%. 19.4% of residents hold a bachelor's degree or higher. The average commute time is 27.4 minutes.
Cost of Living in Melbourne, IA
Compared to national averages, Melbourne has a median household income of $82,857 (10% above the national median of $75,149). Home values average $147,400, which is 40% below the national median. Monthly rent at $722 is 38% below the US average of $1,163. Within Iowa, Melbourne's income is 22% above the state average of $67,947, and home values are 11% above the state median of $132,237.
Why Live in Melbourne, IA?
Melbourne offers a strong local economy with a median household income of $82,857, well above the national average, and affordable housing with a median home value of $147,400, below the US average of $244,900, and rent that’s lower than the national average at $722/month. Additionally, the city features a low poverty rate of 4.8%, better than the national average.
Melbourne has a population of 714 with a median age of 39.3 years. Compare Melbourne with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Melbourne
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wellsburg | 710 | $63,125 | $110,800 | Compare |
| Armstrong | 709 | $52,279 | $86,400 | Compare |
| Ventura | 708 | $83,125 | $344,800 | Compare |
| Long Grove | 707 | $124,297 | $295,900 | Compare |
| Ainsworth | 723 | $67,115 | $110,300 | Compare |
| University Park | 704 | $65,815 | $92,700 | Compare |
| Boyden | 702 | $81,354 | $175,300 | Compare |
| Hazleton | 698 | $53,542 | $80,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Melbourne With Other Cities
Frequently Asked Questions about Melbourne
What is the population of Melbourne, IA?
The population of Melbourne, IA is 714 according to the latest Census data.
What is the median household income in Melbourne?
The median household income in Melbourne, IA is $82,857 per year.
What is the median home value in Melbourne?
The median home value in Melbourne, IA is $147,400.
What is the average rent in Melbourne?
The median monthly rent in Melbourne, IA is $722.
What is the unemployment rate in Melbourne?
The unemployment rate in Melbourne, IA is 4.5%.