Melrose, Massachusetts Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Melrose, Massachusetts rental market.
Melrose, Massachusetts
Average Apartment Rent
$2,958
Y-o-Y Change in Average
Apartment Rent
0.4%
As of March 2026
Compared to a year ago, Melrose, Massachusetts apartments have recorded a 0.4% rent increase.
Melrose, Massachusetts Average apartment rent trend
Melrose, Massachusetts Average Apartment Rent
Melrose, Massachusetts Apartment rent ranges
At 51.18%, apartments priced $2,500 - $3,000 represent the bulk of Melrose, Massachusetts rentals, while condos priced $2,000 - $2,500 hold the lowest share of the market – 11.82%.
Melrose, Massachusetts Housing tenure**
Renters take up 34% of Melrose, Massachusetts real estate, occupying a total of 4,113 units, while homeowners live in 7,924 properties.
Median number of rooms of renter-occupied housing units**
3.4
Renter median household income**
$64,228
Average household size of renter-occupied housing units**
1.72
Melrose, Massachusetts Renter-occupied housing units by no. of bedrooms**
There are 1,754 rentals in Melrose, Massachusetts with 1 bed making up the highest share of the market, at 43%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 42 units. Overall, the median number of rooms in Melrose, Massachusetts homes for rent is 3.4.
Melrose, Massachusetts Renter-occupied units by age of householder**
Most condos for rent in Melrose, Massachusetts are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 45 - 54 years age group (17%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 3%.
Melrose, Massachusetts Renter-occupied housing units by family type**
Melrose, Massachusetts Renter-occupied housing units by the presence of own children**
A total of 1,445 apartments for rent in Melrose, Massachusetts, or 35% of all rentals are family households. Additionally, 11% of rental homes include children under the age of 18 – that’s 455 units. All in all, the median size of a renter-occupied household in Melrose, Massachusetts is 1.72.
Melrose, Massachusetts Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 47% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Melrose, Massachusetts.
Melrose, Massachusetts Renter-occupied units by year structure built**
The highest share of Melrose, Massachusetts apartment rentals, namely 33% or 1,374 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (16%, 639 units), and the ones Built 1960 - 1969 (14%, 563 units).
Melrose, Massachusetts Renter-occupied units by year householder moved in**
Median year renter moved into unit 2015
Most Melrose, Massachusetts renters (54%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Melrose, Massachusetts condos for rent is 2015.
Melrose, Massachusetts Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Melrose, Massachusetts renters have 1 vehicle available per household, 24% of them have 2 vehicles available, and 21% have No vehicle available.
Melrose, Massachusetts Means of transportation to work of householders living in renter-occupied housing units**
Melrose, Massachusetts Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Melrose, Massachusetts apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
