Cost of Living in Melrose, MA
Population: 29,488 • 2026 Data
$126,854
Median Household Income
+64% vs national
$1,933
Median Monthly Rent
+43% vs national
$796,100
Median Home Value
+135% vs national
4.1%
Unemployment Rate
Housing in Melrose
The median home value in Melrose, MA is $796,100. Monthly rent for a typical unit averages $1,933, while total monthly housing costs (including utilities and insurance) average $2,228.
Rent-to-income ratio: 18.3%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Melrose, MA is $126,854. The unemployment rate stands at 4.1%, with a labor force of 16,833 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.