Housing costs in Melrose?
A typical home costs
$737,800, which is 118.2% more expensive than the national average of
$338,100 and 32.4% more expensive than the average Massachusetts home, at
$557,300. Renting a two-bedroom unit in Melrose costs
$2,460 per month, which is 15.0% more than the national average of
$2,140 and close to the state average of
$2,420.
Can I afford Melrose?
To live comfortably in Melrose (zip 02176), Massachusetts, a minimum annual income of
$141,480 for a family, and
$81,200 for a single person is recommended.
What does A.I. say about Melrose?
The cost of living in 02176 Melrose, MA is quite high. It is a highly sought-after suburb of Boston and its median home value sits at $540,000. Rent prices are also steep in the area, with monthly costs ranging from $1,500 to $2,000 for a one bedroom apartment. Food and transportation costs can also add up quickly. The average price for a meal out for two people is around $60 and public transit fares can be expensive depending on how far you need to go. Despite the high cost of living in Melrose, it is still an attractive suburb due to its proximity to Boston and access to quality schools.