Why Live in Downtown Melrose
Downtown Melrose features a mix of mid-20th century apartments, condos, and older homes converted into multi-unit properties. On the outskirts, single-family homes, including Cape Cod and New Englander styles from the late 1800s and early 1900s, are prevalent. The neighborhood offers a variety of things to do, such as visiting Ell Pond to watch seasonal swans or heading to The Knoll for its skatepark, public pool, sports fields, dog park, and veterans memorial. The Middlesex Fells Reservation, less than a mile away, provides over 2,200 acres of trails, picnic areas, and waterfront access. Stone Zoo hosts events like Zoo Lights in winter and adults-only nights. Dining options include Turner’s Seafood, known for its fresh fish and daily specials, and Giacomo's for Italian cuisine. Hannah's Brewing Co., the first brewery in Melrose, opened in 2024. Grocery shopping is convenient with Shaw's, Whole Foods, and the Melrose Farmers’ Market. Annual events like Home for the Holidays and the Victorian Fair bring the community together. Transportation is facilitated by Interstate 93, located 4 miles west, and two commuter rail stations, Melrose/Cedar Park and Wyoming Hill, making the 10-mile commute to Boston manageable. MelroseWakefield Hospital is less than a mile away, and Boston Logan International Airport is 11 miles away. Schools in the area are highly rated, with Lincoln Elementary School, Melrose Middle School, and Melrose High School all receiving high marks and offering strong extracurricular programs. The neighborhood's crime rate is lower than the national average, contributing to its appeal for families and individuals alike.
Frequently Asked Questions
Is Downtown Melrose a good place to live?
Downtown Melrose is a good place to live. Downtown Melrose is considered very walkable and bikeable with some transit options. It has a median age of 43. The average household income is $126,967 which is above the national average. College graduates make up 62.7% of residents. A majority of residents in Downtown Melrose are renters, with 54% of residents renting and 46% of residents owning their home. A
local real estate agent serving Downtown Melrose can help you decide if this neighborhood is the right one for you. Learn more on our
Downtown Melrose neighborhood guide.
How much do you need to make to afford a house in Downtown Melrose?
The median home price in Downtown Melrose is $378,000. If you put a 20% down payment of $75,600 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $1,960 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $84K a year to afford the median home price in Downtown Melrose. The average household income in Downtown Melrose is $127K.
What are the best public schools in Downtown Melrose?
The best public schools that serve Downtown Melrose are:
What are the best private schools in Downtown Melrose?
The best private schools that serve Downtown Melrose are:
What are the most popular zip codes in Downtown Melrose, Melrose, MA?
What are the most popular neighborhoods near Downtown Melrose, Melrose, MA?
Are home prices dropping in Downtown Melrose?
Yes, home prices in Downtown Melrose are down 62% in the last 12 months.
Home Trends in Downtown Melrose, MA
On average, homes in Downtown Melrose, Melrose sell after 44 days on the market compared to the national average of 70 days. The median sale price for homes in Downtown Melrose, Melrose over the last 12 months is $241,900, down 56% from the median home sale price over the previous 12 months.
Median Sale Price
$241,900
Median Single Family Sale Price
$375,000
Average Price Per Sq Ft
$212
Number of Homes for Sale
2
Last 12 months Home Sales
10
Median List Price
$378,000
Median Change From 1st List Price
-3%
Median Home Sale Price YoY Change
-56%