Zip 02176 (Melrose, MA) Economy


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02176 Melrose, MA is a bustling town nestled in Middlesex County, Massachusetts. With a population of 28,000 residents, this city offers both urban amenities and suburban comforts. The average two bedroom rent in the area is $2,460 while the national average stands at $1,430. Grocery costs are also higher with an index score of 113 versus the US index score of 100.
Local businesses have contributed to 02176 Melrose's growth over the years. Popular companies such as MelRose Bank, Donelan’s Supermarket, and Medical Services Corporation have all been staples in the community. Other notable local businesses include Gaslight Hair Salon & Spa, Spinelli's Deli & Market, and the popular Bakery Cafe & Lounge known as Frosted Mug Diner. With so many businesses around to service residents and visitors alike, 02176 Melrose is truly an amazing place to live and visit!

Melrose (zip 02176) has an unemployment rate of 5.0%. The US average is 6.0%.

Melrose (zip 02176) 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 (zip 02176)
- The Sales Tax Rate for Melrose (zip 02176) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Melrose (zip 02176) 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 (zip 02176)
- The average income of a Melrose (zip 02176) resident is $58,676 a year. The US average is $37,638 a year.
- The Median household income of a Melrose (zip 02176) resident is $125,000 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyMelrose, MassachusettsUnited States
    Unlock6
    Unlock-6.2%
    Unlock33.5%
    Unlock6.2%
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    Unlock$37,638
    Unlock$69,021
    Unlock$85,028
  Population by Occupation
    Unlock1.2%
    Unlock0.5%
    Unlock6.8%
    Unlock10.0%
    Unlock2.5%
    Unlock11.0%
    Unlock4.8%
    Unlock0.8%
    Unlock1.9%
    Unlock4.7%
    Unlock1.9%
    Unlock7.6%
    Unlock0.1%
    Unlock4.2%
    Unlock9.3%
    Unlock14.0%
    Unlock2.1%
    Unlock7.0%
    Unlock4.8%
    Unlock4.7%
Reviews for Melrose
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Over 10 years ago

12 miles from Boston; close to the city but very sophisticated friendly small town. Mixed neighborhoods of seniors, youn families and singles. Professionals and blue  More

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