Melrose, MA


Highest Appreciating Melrose Neighborhoods Since 2000

Melrose, MA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Melrose Housing Market Information

With 27,997 people, 11,349 houses or apartments, and a median cost of homes of $557,150, Melrose house prices are not only among the most expensive in Massachusetts, Melrose real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Melrose, accounting for 54.77% of the city's housing units. Other types of housing that are prevalent in Melrose include large apartment complexes or high rise apartments ( 25.65%), duplexes, homes converted to apartments or other small apartment buildings ( 16.29%), and a few row houses and other attached homes ( 3.29%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Melrose. Owner-occupied housing accounts for 67.17% of Melrose's homes, and 51.23% have either three or four bedrooms, which is average sized relative to America.

The housing in Melrose was primarily built before 1939 ( 53.34%), making the housing stock in Melrose some of the oldest overall in America, although there is a range of ages of homes in Melrose. The next most important housing age is between 1940-1969 ( 24.12%), followed by between 1970-1999 ( 15.63%). There's also some housing in Melrose built between 2000 and later ( 6.90%).

Melrose Home Appreciation Rates

In the last 10 years, Melrose has experienced some of the highest home appreciation rates of any community in the nation. Melrose real estate appreciated 31.21% over the last ten years, which is an average annual home appreciation rate of 2.75%, putting Melrose in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Melrose definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Melrose that despite a nationwide downturn in the housing market, Melrose real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Melrose appreciation rates continue to be some of the highest in America, at 8.15%, which is higher than appreciation rates in 85.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Melrose. Melrose appreciation rates in the latest quarter were at 1.58%, which equates to an annual appreciation rate of 6.47%.

Relative to Massachusetts, our data show that Melrose's latest annual appreciation rate is higher than 90% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Melrose differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Melrose - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Melrose real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,281,000 0.9
$960,001 - $1,281,000 2.4
$640,001 - $960,000 26.2
$512,001 - $640,000 29.1
$384,001 - $512,000 24.9
$256,001 - $384,000 11.0
$128,001 - $256,000 3.0
$64,001 - $128,000 0.2
$0 - $64,000 2.3

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
5.05591662275309 19.5512820512821

Number Of Homes And Apartments:

Melrose Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
Since 2000:
2000 Q1 - 2017 Q3
79.90% 3.36% 9 9
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,788 / per month

Homeownership Rate

Owners 67.17
Renters 32.83
Vacant 4.00

Housing Market Details


Age of Homes

2000 or Newer 6.9
1970 - 1999 15.6
1940 - 1969 24.1
1939 or Older 53.3

Types of Homes

Single-Family 54.8
Townhomes 3.3
Small Apt. Buildings 16.3
Apt. Complexes 25.6
Mobile Homes 0.0
Other 0.0

Home Size

No Bedroom 2.77
1 Bedroom 18.35
2 Bedrooms 21.67
3 Bedrooms 34.46
4 Bedrooms 16.77
5 or more bedrooms 5.97