Living in Melrose, Massachusetts
Cost of living, income, home prices, rent and demographics of Melrose · Census data 2020–2024
Melrose has 29,650 residents with a median age of 43.6. The median household income is $133,953 (29% higher than the Massachusetts median), the median home value is $822,900, the median rent is $1,970/month.
Melrose at a glance
- Population
- 29,650
- Median age
- 43.6State: 40
- Median household income
- $133,953State: $103,960
- Median home value
- $822,900State: $562,100
- Median rent
- $1,970/moState: $1,762
- Homeowners
- 67.2%
- Bachelor's degree or higher
- 62%
- Average commute
- 35 min
Is Melrose a good place to live?
Pros: Median household income 29% higher than the Massachusetts median; unemployment of 3.7%; a poverty rate of 3.8%.
Cons: Home values 46% higher than the state median; an average commute of 35 minutes.
The weather is best in June to September.
Cost of living in Melrose
Housing is the biggest part of the cost of living. In Melrose the median home value is $822,900, 147% higher than the U.S. median. Renters pay a median of $1,970 per month, which is 30.2% of household income. Homeowners with a mortgage pay $3,213 a month in housing costs.
Melrose median household income
The median household income in Melrose is $133,953 and the income per person is $67,861. 3.8% of residents live below the poverty line (Massachusetts: 10%).
Housing in Melrose: homes for sale and rent
- Housing units
- 12,771
- Owner-occupied
- 67.2%
- Renter-occupied
- 32.8%
- Vacant
- 2.9%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.37
Melrose demographics
- Population
- 29,650
- Median age
- 43.6
- Under 18
- 20.2%
- 65 and older
- 20.6%
- Households
- 12,401
- Foreign-born
- 17.6%
- Veterans
- 2.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Melrose ›
Education in Melrose
62% of adults 25 and older in Melrose have a bachelor's degree or higher (Massachusetts: 47.3%), and 28.2% have a graduate or professional degree.
Jobs and commute in Melrose
- Unemployment rate
- 3.7%State: 5.2%
- Average commute
- 35 minState: 29 min
- Work from home
- 29.6%
- Drive alone
- 48.6%
- Public transit
- 12.4%
- Walk to work
- 1.8%
- Homes with broadband
- 93.8%
Melrose vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Melrose | 29,650 | $133,953 | $822,900 | $1,970 |
| Malden | 65,906 | $100,606 | $633,500 | $2,204 |
| Stoneham | 23,355 | $113,964 | $671,900 | $2,035 |
| Saugus | 28,773 | $101,539 | $603,400 | $2,241 |
| Medford | 59,354 | $129,540 | $755,500 | $2,509 |
| Wakefield | 27,793 | $134,306 | $723,500 | $1,958 |
| Everett | 50,045 | $85,218 | $610,000 | $2,076 |
| Revere | 60,012 | $86,969 | $597,400 | $2,076 |
| Chelsea | 39,908 | $72,179 | $493,500 | $1,956 |
More for people moving to Melrose
Melrose ZIP code ›Weather and climate ›Living in Melrose: FAQ
What is the median household income in Melrose, MA?
The median household income in Melrose is $133,953, 29% higher than the Massachusetts median of $103,960 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Melrose?
The median home value in Melrose is $822,900, compared with $562,100 in Massachusetts.
How much is rent in Melrose?
The median gross rent in Melrose is $1,970 per month, about 30.2% of household income.
Is Melrose, MA a good place to live?
Pluses: median household income 29% higher than the Massachusetts median; unemployment of 3.7%; a poverty rate of 3.8%. Minuses: home values 46% higher than the state median; an average commute of 35 minutes.
What is the median age in Melrose?
The median age in Melrose is 43.6 years (Massachusetts: 40).
How long is the commute in Melrose?
The average commute to work in Melrose is 35 minutes; 29.6% of workers work from home.
What is the unemployment rate in Melrose?
The unemployment rate in Melrose is 3.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Melrose?
62% of adults in Melrose have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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