Melrose, MA
Population 29,488 · Massachusetts
About Melrose, MA
Melrose is a mid-sized city located in Massachusetts with a population of 29,488 residents according to the latest US Census Bureau American Community Survey data. The median household income is $126,854 per year, which is 69% above the national median of $75,149. The median age of 44.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Melrose features a median home value of $796,100, which is 225% above the national median of $244,900. This places Melrose in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,933, 66% above the national average of $1,163/month. Of the 12,724 total housing units, 68% are owner-occupied (8,388 units) and 32% are renter-occupied (3,980 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Melrose shows an unemployment rate of 4.1%, which is near the national rate of 3.7%. The poverty rate stands at 3.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Melrose have an average one-way commute time of 35.7 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
62.0% of Melrose residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.7% White, 0.2% Hispanic or Latino, 0.8% Black or African American, and 4.3% Asian residents, with 16.0% of the population being foreign-born.
Cost of Living in Melrose, MA
Compared to national averages, Melrose has a median household income of $126,854 (69% above the national median of $75,149). Home values average $796,100, which is 225% above the national median. Monthly rent at $1,933 is 66% above the US average of $1,163. Within Massachusetts, Melrose's income is 20% above the state average of $105,630, and home values are 42% above the state median of $561,296.
Why Live in Melrose, MA?
Melrose offers a strong local economy with a median household income of $126,854, well above the national average, and a well-educated community where 62.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $796,100. However, Melrose’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Melrose has a population of 29,488 with a median age of 44.3 years. Compare Melrose with other cities to see how it stacks up, or explore all cities in Massachusetts.
Similar Cities Near Melrose
Cities in Massachusetts with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Gloucester | 29,862 | $87,898 | $587,800 | Compare |
| Wellesley | 29,906 | $250,001 | $1,513,400 | Compare |
| Bridgewater Town | 28,669 | $112,482 | $500,600 | Compare |
| Northampton | 28,640 | $78,467 | $398,000 | Compare |
| West Springfield Town | 28,635 | $70,401 | $307,900 | Compare |
| Saugus | 28,599 | $100,819 | $589,500 | Compare |
| Agawam Town | 28,510 | $82,359 | $290,000 | Compare |
| Milton | 28,481 | $178,053 | $896,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Massachusetts
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Melrose With Other Cities
Frequently Asked Questions about Melrose
What is the population of Melrose, MA?
The population of Melrose, MA is 29,488 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Massachusetts.
What is the median household income in Melrose?
The median household income in Melrose, MA is $126,854 per year, which is 69% above the national median of $75,149.
What is the median home value in Melrose?
The median home value in Melrose, MA is $796,100, which is 225% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Melrose?
The median monthly rent in Melrose, MA is $1,933, which is 66% above the national average of $1,163/month.
What is the unemployment rate in Melrose?
The unemployment rate in Melrose, MA is 4.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Melrose, MA a good place to live?
Melrose offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 29,488 and a median age of 44.3, the city appeals to a broad range of residents.
How educated is Melrose, MA?
62.0% of residents in Melrose aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Melrose?
Key cost-of-living indicators for Melrose, MA: median home value is $796,100 (225% above national), median rent is $1,933/month, and median household income is $126,854. The home-value-to-income ratio is 6.3x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Melrose?
The poverty rate in Melrose, MA is 3.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Melrose, MA?
Melrose's population is 0.7% White, 0.2% Hispanic or Latino, 0.8% Black or African American, 4.3% Asian, and 2.2% two or more races. 16.0% of residents are foreign-born.