salaryRent here is among the highest 10% in the country. Household incomes are higher than in 88% of U.S. cities. A typical house costs about 5.7 years of household income. Commutes are long, about 34.5 minutes each way. It is a highly educated city: 62% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $114,720 a year. That is $55 an hour at a full-time job.
Is rent cheaper than other Massachusetts cities?
No. Rent here is more expensive than in most of Massachusetts. It is number 100 of 123 cities from cheapest to most expensive.
How much do households earn in Melrose?
Share of households by yearly income. 52.8% of households earn $100,000 or more.
Rent by apartment size in Melrose
| Size | Melrose | U.S. average |
|---|---|---|
| Studio | $1,221 | $1,338 |
| 1 bedroom | $1,849 | $1,324 |
| 2 bedrooms | $2,614 | $1,509 |
| 3 bedrooms | $3,209 | $1,698 |
| 4 bedrooms | $3,500+ | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Melrose overall?
Everyday prices in Massachusetts overall are 6% above the U.S. average (index 105.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Melrose, so the Massachusetts figure is shown.
Taxes and bills in Melrose
Life in Melrose
Is it cheaper to rent or buy in Melrose?
Renting is cheaper right now: about $2,842 a month less.
Owning assumes a typical $822,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $82,290 for the down payment.
Frequently asked questions
What is the average rent in Melrose, MA?
Renting in Melrose costs a median of about $2,868 a month in 2026, including utilities. The Massachusetts median is $2,331.
How much do I need to make to live in Melrose?
To keep rent under 30% of income, you need about $114,720 a year, or $55 an hour at a full-time job.
Is Melrose cheap or expensive?
Melrose is rated OK: rent takes 23.8% of the typical household income of $144,468. It ranks 100th cheapest of 123 Massachusetts cities we track.
How much are property taxes in Melrose?
The median homeowner in Melrose pays $7,578 a year in property taxes, about 0.92% of the median home value.
Is Melrose more expensive than the national average?
Overall prices in Massachusetts are 6% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Melrose?
The median home value in Melrose is $822,900, about 5.7 times the typical yearly household income.
29,650 people live in Melrose. Numbers are typical (middle) values.