Melrose, MA is an exciting city situated in Middlesex County with a range of attractions and activities that make it an ideal place to live. The city is well-known for its vibrant downtown area, great restaurants, and unique local businesses including Melrose Bank, Melrose Animal Clinic, and the Sherwood Cafe. In terms of cost of living, 2 bedroom rents in Melrose are $2,490 compared to the US average of $1,430 which makes it slightly more expensive than the national average. Additionally, groceries in Melrose have an index rating of 113 compared to 100 nationally which could also indicate a higher cost of living.
Melrose has an unemployment rate of 5.0%. The US average is 6.0%.
Melrose has seen the job market decrease by -9.1% over the last year. Future job growth over the next ten years is predicted to be 40.6%, which is higher than the US average of 33.5%.
Tax Rates for Melrose
- The Sales Tax Rate for Melrose is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Melrose is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Melrose
- The average income of a Melrose resident is $58,791 a year. The US average is $37,638 a year.
- The Median household income of a Melrose resident is $125,229 a year. The US average is $69,021 a year.