Median Price
$881,000
$477/sqft
Schools
8.1/10
Great
Appreciation
4.5/10
Growth Potential
Commute
22 min
to Boston
Live Market Snapshot
Loading…Recently Sold in Melrose
View all 281 sales$882,500
Curated Median
281
Total Sales on Record
$234,000–2,628,000
Price Range
Well Under Median
$595,000
51 Melrose St APT 4D
2bd2ba1,230 sqft
$484/sqftInvalid Date
Well Under Median
$315,000
220 Essex St APT 1
1bd1ba575 sqft
$548/sqftInvalid Date
Under Median
$635,000
7 Penny Hill Rd
3bd1ba1,352 sqft
$470/sqftInvalid Date
Under Median
$700,000
445 E Foster St
3bd2ba1,899 sqft
$369/sqftInvalid Date
At Median
$935,000
225 Howard St
4bd3ba2,541 sqft
$368/sqftInvalid Date
At Median
$920,000
172 Florence St
3bd2ba1,366 sqft
$673/sqftInvalid Date
What Drives Prices in Melrose
Full breakdownDecomposition of the $881,000 median price into its underlying components.
Land Value$120,602 (14%)
Structure & Quality$440,337 (50%)
School Premium$117,797 (13%)
Access & Commute Premium$122,173 (14%)
Prestige & Stability Premium$80,091 (9%)
920
School Value Score
1060
Overall Value Score
The Melrose Vibe
Charming Victorian village with walkable downtown, strong community identity, and excellent transit access. Family-friendly without being stuffy.
Melrose has that rare combination—Victorian charm, walkable downtown, strong schools, and you're 22 minutes to Boston. It's what Somerville was before everyone discovered it.
Highlights
🚆 Commuter rail gets you downtown in 22 minutes
🏛️ Beautiful Victorian homes throughout
🛍️ Walkable downtown with local businesses
📈 Strong appreciation potential (4.5% annually)
Who It's For
✓ Great for
- •Commuter rail commuters who value character
- •Families wanting walkable downtown
- •Victorian home enthusiasts
- •Those seeking value near Boston
⚠ Consider elsewhere if
- •You need top-tier schools (they're good but not elite)
- •You want modern new construction
- •You prefer suburbs over small-city feel
Demographics
Population28,100
Median Age41
Median Household Income$129,000
Work from Home20.6%
Professional Sector63.3%
Insider Tips
- 1.West Side near Ell Pond is most desirable
- 2.Downtown has surprising restaurant scene
- 3.Victorian Architecture District is stunning