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Melrose, MA
Full City Profile · Massachusetts · Suffolk County County
3.5
/5.0
B+
Good
29,488
Population
6,301/sq mi density
$126,854
Median Income
$65,038 per capita
$796,100
Home Value
$885,146 Zillow
$1,933
Median Rent
29.1% income on rent
52°F
Avg Temperature
246 sunny days/yr
114
Violent Crime/100K
612 property/100K
B+
Overall
3.5 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.9 / 5.0
$126,854 median income, 2.8% unemployment
B
Affordability
3.1 / 5.0
$796,100 home value, $1,933/mo rent
F
Safety
1.0 / 5.0
114 violent crimes/100K
A+
Education
5.0 / 5.0
62.0% bachelor's degree or higher
Housing Overview
Median Home Value
$796,100
182% above
US avg: $281,900
Median Rent
$1,933/mo
66% above
US avg: $1,163/mo
Homeownership Rate
67.8%
4% above US avg (65.4%)
Total Housing Units
12,372
Median year built: 1938
Home Value by Source
Census Median
$796,100
Zillow (ZHVI)
$885,146
Median Sale Price
$849,900
Median List Price
$749,999
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
67.8%
Owner-Occupied
32.2%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,727/mo
1 Bedroom
$1,822/mo
2 Bedroom
$2,300/mo
3 Bedroom
$2,858/mo
4 Bedroom
$3,232/mo
Census median rent:
$1,933/mo
· Zillow rent:
$2,639/mo
Market Indicators (Redfin)
Median Days on Market
32 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
19
Price Drops
15.0%
of listings with price reduction
Price Per Sq Ft
$416
Active Inventory
20
homes for sale
Affordability & Housing Stock
Rent Burden
29.1%
of renters spending 30%+ of income on housing
6% below US avg (31.0%)
Median Year Built
1938
Average age of housing stock: 88 years
Homeownership Rate
67.8%
Complete Housing Data
Home Values
| Census Median Value | $796,100 |
| Zillow Home Value (ZHVI) | $885,146 |
| Median Sale Price | $849,900 |
| Median List Price | $749,999 |
| Price Per Sq Ft | $416 |
Rent
| Census Median Rent | $1,933 |
| Zillow Rent (ZORI) | $2,639 |
| FMR Studio | $1,727 |
| FMR 1-Bedroom | $1,822 |
| FMR 2-Bedroom | $2,300 |
| FMR 3-Bedroom | $2,858 |
| FMR 4-Bedroom | $3,232 |
Market
| Days on Market | 32 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 15.0% |
| Homes Sold | 19 |
| Active Inventory | 20 |
| Price Per Sq Ft | $416 |
Ownership & Stock
| Owner-Occupied | 67.8% |
| Renter-Occupied | 32.2% |
| Homeownership Rate | 67.8% |
| Total Housing Units | 12,372 |
| Median Year Built | 1938 |
| Rent Burden | 29.1% |