Median home value is about $747,900 — about 115% above the U.S. median home value ($348,079).
Housing tenure and rents show median gross rent around $3,215 (about 176% above the U.S. median rent ($1,163)), and owner-occupancy near 88.0% (about 22.6 points above the national owner-occupancy rate (65.4%)).
To comfortably buy a median-priced home in ZIP 11747 in Melville, NY, a household would need roughly $206,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $4,804. That is about 33% above the local median household income ($154,914), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.