Frequently Asked Questions
How much does it cost to rent a townhouse in Melrose, MA?
The median rent for a townhouse in Melrose, MA is $2,800 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Melrose, MA?
To comfortably afford the median rent in Melrose, MA, a household needs to earn roughly $98,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,450 per month in Melrose, MA, renters typically need to show $7,350 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Melrose, MA?
In Melrose, MA, the price-to-rent ratio is 30.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
Townhouse Rental Trends in Melrose, MA
There are currently 1 townhouses available for rent in Melrose, MA. The median rent is $2,800 per month, with 2-bedroom townhouses renting at $2,800, 3-bedroom townhouses at $3,150 and 4-bedroom townhouses at $3,900.
Number of Townhouses for Rent
1
|
Median Townhouse Rent
$2,800
|
Median 2 Bedroom Townhouse Rent
$2,800
|
Median 3 Bedroom Townhouse Rent
$3,150
|
Median 4 Bedroom Townhouse Rent
$3,900
|
