The Chase at Overlook Ridge
11 Overlook Ridge Dr,
Revere, MA 02151
$1,931 - $3,022 Total Monthly Price
Studio - 2 Beds | 12 Month Lease
Rental Market Trends in Melrose, MA
What is the average rent in Melrose, MA?
$2,504/month
Average Rent
707 Sq Ft
Average Apartment Size
-1.8%
Decrease in the Last Year
As of January 2026, the average rent in Melrose, MA is $2,504 per month. This is 54% higher than the national average rent price of $1,625/month, making Melrose one of the most expensive cities in the US. When you rent an apartment in Melrose, you can expect to pay about $1,748 per month for a studio, $2,504 for a one-bedroom apartment, and around $3,057 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,850 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Melrose, MA?
In the past year, rent has decreased by 1.8%, which averages out to $44 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2026
Legend
2025
2026
Rent Ranges in Melrose, MA
Last Updated January 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
12%
$1,501 - $2,000/month
88%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Melrose?
Based on current rent prices, Downtown Melrose, Wyoming and Oak Grove-Pine Banks are the most affordable neighborhoods in Melrose.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Melrose?
Based on current rent prices, Oak Grove-Pine Banks, Wyoming and Downtown Melrose are the most expensive neighborhoods in Melrose.
Neighborhood
Average Rent
Average Sq Ft
Which Melrose neighborhoods have the most rentals available?
The neighborhoods in Melrose with the most apartments available are Oak Grove-Pine Banks, Wyoming and Downtown Melrose .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Melrose, MA?
Because the average rent in Melrose is $2,504, you’ll want to make about $8,346 per month or $100,152 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Melrose, MA compare to other nearby cities and neighborhoods?
Use the tool below to compare Melrose, MA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,693/month
One Bedroom
$2,015/month
$2,576/month
Two Bedroom
$2,755/month
$3,106/month
Three Bedroom
$4,217/month
$3,777/month
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.
* Percentages may not total 100 due to rounding.