Home prices
The median home in Melrose is valued at $570,300. In comparison to its surrounding areas this is about $110,700 (24%) higher.It is approximately $352,800 (162%) higher compared to the United States as a whole, and it is about $37,600 (7%) higher compared to the city of Boston.
Rents
In Melrose the median rent is $1,516 per month. Compared to other places in this area it is roughly $84 (5%) higher.Compared to the rest of the country it is roughly $454 (42%) higher, and it is approximately $104 (6%) lower in comparison to the city of Boston.
Nearby places
Malden
Malden is Melrose's neighbor to the south. The real estate prices there are a lot less expensive. The median home in Malden is valued at $401,900, which comes out to $168,400 (41%) lower than Melrose. The rent there is similar. The median monthly rent in Malden is $1,577, which works out to $61 (3%) higher than Melrose.
Stoneham
Stoneham is Melrose's neighbor to the northwest. The housing prices there are a little less expensive. The median home in Stoneham is valued at $494,600, which is $75,700 (15%) lower than Melrose. Its rents are fairly similar. The median monthly rent in Stoneham is $1,483, which is $33 (2%) lower than Melrose.
Saugus
Saugus is Melrose's neighbor to the northeast. The housing prices there are substantially less expensive. The median home in Saugus is valued at $394,900, which works out to $175,400 (44%) lower than Melrose. Rent there is significantly less expensive. In Saugus the median monthly rent is $919, which is $597 (64%) lower than Melrose.
Wakefield
Wakefield is Melrose's neighbor to the north. Housing prices there are somewhat less expensive. Wakefield's median home value is $505,800, which comes out to $64,500 (12%) lower than Melrose. Rents there are a bit less expensive. Wakefield's median rent is $1,364 per month, which is $152 (11%) lower than Melrose.
Medford
Medford is about 3 miles southwest of Melrose. The housing prices there are a little less expensive. Medford's median home value is $500,800, which is $69,500 (13%) lower than Melrose. The rent there is somewhat more expensive. In Medford the median rent is $1,817 per month, which is $301 (16%) higher than Melrose.
