The Chase at Overlook Ridge
11 Overlook Ridge Dr,
Revere, MA 02151
Studio - 2 Beds | $1,973 - $3,285
Rental Market Trends in Melrose, MA
Updated July 2026
The average rent in Melrose, MA is $2,582/month.
Rent in Melrose is 55% higher than the national average rent of $1,663/month, making this one of the more expensive cities statewide.
$2,582/month
Average Rent
712 Sq Ft
Average Size
+0.6%
Change / Year
518
Available Apartments
Melrose rent varies by unit size and layout:
- Studio apartments in Melrose average $1,820 per month.
- One-bedroom apartments in Melrose average $2,582 per month.
- Two-bedroom apartments in Melrose average $3,208 per month.
- Three-bedroom apartments in Melrose average $3,926 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Melrose, MA?
In the past year, rent has increased by 0.6%, which averages out to $17 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Melrose, MA
July 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
0%
$1,501 - $2,000/month
100%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Melrose?
Based on current rent prices, 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 and Wyoming" 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 Wyoming and Oak Grove-Pine Banks" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Melrose, MA?
Because the average rent in Melrose is $2,582, you’ll want to make about $8,606 per month or $103,272 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.
View the Melrose Area GuideStudio
$1,822/month
$1,814/month
One Bedroom
$2,279/month
$2,655/month
Two Bedroom
$3,141/month
$3,273/month
Three Bedroom
-
$3,863/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Melrose We Think You'll Love
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Guides for Managing Your Rental
Frequently Asked Questions
What is the average rent in Melrose?
The average rent in Melrose is $2,582 per month, which is 55.3% higher than the national average of $1,663.
What is the average rent for a house in Melrose?
The average rent for a house in Melrose, MA is $4,120 per month.
What is the average rent for a condo in Melrose?
The average rent for a condo in Melrose, MA is $2,105 per month.
Are rents going up or down in Melrose?
Rents in Melrose, MA are increasing, with prices up 0.6% year-over-year and $17 more per month.
What rent range is most common in Melrose?
In Melrose, MA, 100% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
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 June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.