Why Live in Melrose
The Melrose neighborhood in Albany is a predominantly residential area situated between Washington and Western Avenues, offering a small community feel with convenient access to the University at Albany and downtown Albany. The neighborhood features mid-20th-century homes, including ranches, colonials, Dutch colonials, and occasional Tudors, with vibrant exteriors and some Spanish-style homes. Melrose is known for its owner-occupied homes, many of which have been updated. Rosemont Park, the only green space within Melrose, provides a playground, tennis court, and basketball court, while nearby Frank Waterson Park offers additional recreational facilities, including baseball diamonds and a dog park. Residents often visit Washington Park for its festivals, events, and recreational amenities, such as the Tulip Festival and Park Playhouse shows. Dining options in the area include Junior’s Bar and Grill, Café Madison, and local favorites like Caffe Italia and Gateway Diner. The neighborhood is safer than the national average, making it appealing for families and those who enjoy bike riding and trick-or-treating. Melrose is well-connected by Route 20 and New York State Route 85, with bus services along Western and Washington Avenues, providing easy access to various parts of Albany.
Frequently Asked Questions
Is Melrose a good place to live?
Melrose is a good place to live. Melrose is considered somewhat walkable and bikeable with good transit options. Melrose is a suburban neighborhood. Melrose has 7 parks for recreational activities. It is fairly dense in population with 12.4 people per acre and a median age of 40. The average household income is $87,546 which is below the national average. College graduates make up 62.7% of residents. A majority of residents in Melrose are home owners, with 46.5% of residents renting and 53.5% of residents owning their home. A
local real estate agent serving Melrose can help you decide if this neighborhood is the right one for you. Learn more on our
Melrose neighborhood guide.
Is Melrose, NY a safe neighborhood?
Melrose, NY is less safe than the average neighborhood in the United States. It received a crime score of 5 out of 10.
How much do you need to make to afford a house in Melrose?
The median home price in Melrose is $459,990. If you put a 20% down payment of $92,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $2,380 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $102K a year to afford the median home price in Melrose. The average household income in Melrose is $88K.
What are the best public schools in Melrose?
The best public schools that serve Melrose are:
What are the best private schools in Melrose?
The best private schools that serve Melrose are:
What are the most popular zip codes in Melrose, Albany, NY?
What are the most popular neighborhoods near Melrose, Albany, NY?
Are home prices dropping in Melrose?
Yes, home prices in Melrose are down 50% in the last 12 months.
Home Trends in Melrose, NY
On average, homes in Melrose, Albany sell after 78 days on the market compared to the national average of 70 days. The median sale price for homes in Melrose, Albany over the last 12 months is $517,500, down 59% from the median home sale price over the previous 12 months.
Median Sale Price
$517,500
Median Single Family Sale Price
$469,990
Median Townhouse Sale Price
$399,900
Median 1 Bedroom Sale Price
$510,000
Average Price Per Sq Ft
$257
Number of Homes for Sale
5
Last 12 months Home Sales
4
Median List Price
$459,990
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
-59%