Melrose, MA Cost Of Living
Cost Of Living In Melrose, MA Summary
Cost of living in Melrose research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Melrose is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Melrose is 166, with 100 being the average.
The cost of living index in Melrose is 1.7x higher than the national average.
Melrose ranks as the #88 cheapest in Massachusetts out of 112.
Melrose ranks as the #5,995 cheapest out of 6,489 in the US.
The median home value in Melrose is $882,957.
The median income in Melrose is $126,854.
Table Of Contents
Melrose's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Melrose, MA?
According to the most recent data on the cost of living, Melrose has an overall cost of living index of 166, which is 1.7x higher than the national index of 100.
Compared to Massachusetts, Melrose has a cost of living index that's 1.2x higher than Massachusetts's index of 134.
The standard of living in Melrose ranks as #88 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Melrose ranks as the #24 most expensive place in the Bay State.
For more reading on life in Melrose, check out:
In Massachusetts
In America
Melrose Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Melrose. Here is how it fairs on each of the criteria:
The Services index in Melrose is 120.
The Groceries index in Melrose is 106.
The Health index in Melrose is 113.
The Housing index in Melrose is 277.
The Transportation index in Melrose is 119.
The Utilities index in Melrose is 135.
| Living Expense | Melrose | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 166 | 134 | 100 | |
| Services | 120 | 121 | 100 | |
| Groceries | 106 | 106 | 100 | |
| Health | 113 | 112 | 100 | |
| Housing | 277 | 164 | 100 | |
| Transportation | 119 | 120 | 100 | |
| Utilities | 135 | 136 | 100 | |
Melrose, MA Housing Cost Breakdown
Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Melrose is $882,957.
The Median Rent in Melrose is $1,933.
The Median Income in Melrose is $126,854.
The Home Value To Income in Melrose is 7.0x.
The Rent To Monthly Income in Melrose is 0.18x.
| Statistic | Melrose | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $882,957 | $649,115 | $303,400 |
| Median Rent | $1,933 | $1,687 | $1,348 |
| Median Income | $126,854 | $101,341 | $78,538 |
| Home Value To Income | 7.0x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Melrose, MA Costs By Category
Detailed Melrose Services Costs Vs. Massachusetts
| Item | Melrose | Massachusetts |
|---|---|---|
| Shampoo | $1.49 | $1.28 |
| Movie | $15.49 | $12.13 |
| Bowling | $29.33 | $18 |
| Haircut | $43.72 | $24.26 |
| Beauty Salon | $65.56 | $45.56 |
Detailed Melrose Groceries Costs Vs. Massachusetts
| Item | Melrose | Massachusetts |
|---|---|---|
| Ground Beef | $5.48 | $5.84 |
| Fried Chicken | $1.45 | $1.57 |
| Milk | $4.76 | $4.67 |
| Potatoes | $4.99 | $4.93 |
| Pizza | $12.52 | $12.09 |
| Beer | $10.21 | $10.41 |
| Toothpaste | $3.53 | $3.7 |
Detailed Melrose Health Costs Vs. Massachusetts
| Item | Melrose | Massachusetts |
|---|---|---|
| Optometrist | $123.17 | $125.68 |
| Doctor | $157.89 | $135.78 |
| Dentist | $149.22 | $113.29 |
Detailed Melrose Transportation Costs Vs. Massachusetts
| Item | Melrose | Massachusetts |
|---|---|---|
| Gasoline | $3.43 | $3.46 |
| Tire Balancing | $97.39 | $59.92 |
Detailed Melrose Utilities Costs Vs. Massachusetts
| Item | Melrose | Massachusetts |
|---|---|---|
| All Electricity | $302.72 | $193.99 |
| Phone | $187.85 | $192.25 |
Melrose SnackAbility
/10
Cost Of Living In Cities Around Melrose
The cost of living varies in the cities and towns around Melrose. Here's a quick look at the cost of living in the most populous nearby places:
Newton, MA has a cost of living index of 208, 1.3x Melrose.
Somerville, MA has a cost of living index of 184, 1.1x Melrose.
Malden, MA has a cost of living index of 150, 0.9x Melrose.
| City | Population | Cost Of Living | Vs. Melrose |
|---|---|---|---|
| Newton, MA | 88,504 | 208 | 1.3x |
| Somerville, MA | 80,549 | 184 | 1.1x |
| Malden, MA | 65,509 | 150 | 0.9x |
| Brookline, MA | 62,822 | 221 | 1.3x |
| Revere, MA | 59,933 | 141 | 0.8x |
| Medford, MA | 59,062 | 163 | 1.0x |
| Everett, MA | 49,236 | 150 | 0.9x |
| Chelsea, MA | 39,460 | 141 | 0.8x |
| Lexington, MA | 34,085 | 211 | 1.3x |
| Needham, MA | 32,059 | 202 | 1.2x |
