US5.com
  1. Home
  2. States
  3. Massachusetts
  4. ZIP 02176
  5. Housing & Real Estate
Melrose city, MA

ZIP 02176 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 02176

Median Home Value
$796,100
Median Rent
$1,769
Affordability Snapshot
$219,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$5,114/mo PITI).

17%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.3x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

37.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 02176 in Melrose city, MA, a household would need roughly $219,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $5,114. That is about 73% above the local median household income ($126,854), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
67.8%+4% vs US avg
x
Vacancy Rate
2.8%-73% vs US avg
x
Broadband Access
93.6%+8% vs US avg
x
4+ Bedrooms
4.4%-70% vs US avg
x
Built Pre-1939
5.1%-60% vs US avg
x
Built Post-2014
1.2%-83% vs US avg
x
Rent Burden >30%
21.1%-57% vs US avg
x
Mortgage-Free
31.6%-17% vs US avg
x
$796,100
Home Value
$1,769
Rent
1938
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached55.1%
  • 1-unit attached3.4%
  • 2-9 units17.2%
  • 10+ units22.9%
  • Mobile home & other1.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$796,100
Median rent$1,769
Owner-occupied67.8%
Vacant2.8%
Price-to-income6.3x
Est. income to buy$219,000