Home Values

Melrose Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$442,600

  • -4.0% 1-year change
  • -0.9% 1-year forecast

The median home value in Melrose is $442,600. Melrose home values have declined -4.0% over the past year and Zillow predicts they will fall -0.9% within the next year. The median list price per square foot in Melrose is None. The median rent price in Melrose is $1,700, which is lower than the Boston Metro median of $2,395.

Foreclosures will be a factor impacting home values in the next several years. In Melrose 0.9 homes are foreclosed (per 10,000). This is lower than the national value of 3.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Melrose is 3.4%, which is lower than the national value of 6.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Melrose homeowners underwater on their mortgage is 4.3%, which is lower than Boston Metro at 8.5%.

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Relative ZHVI
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Melrose Market Overview

Data through May 31, 2015
  • $442,600 ZHVI
  • -0.9% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (May 31, 2016)
  • No data Median listing price
  • No recent data Median sale price
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Melrose Market Health

Data through May 31, 2015
  • No recent data Very healthy
  • No data Average days on Zillow
  • 4.3% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 3.4% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)
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Nearby Cities

Name Median ZHVI
Somerville $446,000
Wakefield $421,200
Stoneham $400,400
Name Median ZHVI
Medford $395,700
Saugus $327,000
Malden $311,100
Name Median ZHVI
Revere $270,500
Everett $269,500
Chelsea $234,500

Listings & Sales

  • No data
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Melrose Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $2,456 Melrose
    $2,191 Boston Metro
    $1,367 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $1,700 Rent list price
  • $2.07 Rent list price / sq ft
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