Cheap Apartments for Rent in Melrose, MA from $1,000 (116 Rentals)

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Search the lowest-cost Apartments available for rent right now in Melrose.

Boston's Best Affordable Neighborhoods

Learn about Boston and the best places to live around the area with original content written by our Boston, MA Local Expert Amelia Ramstead

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property at 22 Howard St

22 Howard St

MelroseMA02176
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119 West Wyoming
1 Bedroom Apartments

119 West Wyoming

119 W Wyoming AveMelrose, MA 02176
property at 63 Fellsway W

63 Fellsway W

MedfordMA02155
property at 53 Fellsway W

53 Fellsway W

MedfordMA02155
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Melrose, MA Local Guide

Best Value Apartments for Rent in Melrose, MA

As of March 26, 2025 the best value apartment in the Melrose area is the $0.18 price per square foot 456 Salem St Model at 456 Salem St, Unit 6 in the in the Ferryway neighborhood starting from $1,800. The second greatest value Melrose apartment is the 181 Central St Model at 181 Central St, Unit #11 starting at $2,400 with a $0.24 price per square foot in the Nobility Hill neighborhood. Here is today’s list of the best values for Melrose apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
456 Salem St, Unit 6456 Salem St1BR,1BA$0.18
181 Central St, Unit #11181 Central St2BR,1BA$0.24
20 Washington Pl, Unit #11420 Washington Pl2BR,1BA$0.24
450 Salem St, Unit 7450 Salem St1BR,1BA$0.18
15 Locust St, Unit 2A15 Locust St2BR,1BA$0.25
11 Belmont St, Unit #311 Belmont St3BR,1BA$0.29
8 Shawmut Ter, Unit #18 Shawmut Ter1BR,1BA$0.20
340 Salem St, Unit #1340 Salem St1BR,1BA$0.23
45 Bruno St, Unit #B45 Bruno St2BR,1BA$0.22
15 Locust St, Unit 215 Locust St2BR,1BA$0.25

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Best Local Schools in
Melrose, MA

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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See the most popular apartments and homes in Melrose, MA

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Getting Around Melrose, MA

Walk Score®

81 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

38 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Melrose Apartments

What is the Cheapest Studio apartment in Melrose?

Currently the most affordable Cheap Studio Apartment in Melrose is at The Chase at Overlook Ridge listed at $1,973.

How much is rent for a Cheap One Bedroom Melrose Apartment?

The lowest price for a Cheap One Bedroom Melrose Apartment is $1,950 at Warden Place.

What is the lowest price for a Cheap Two Bedroom Melrose Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Melrose is starting from $1,600 at .

What is the most affordable Melrose Three Bedroom Apartment?

The best deal on a cheap Melrose Three Bedroom Apartment rental is at Apartments in Everett & Malden and starts from $2,800.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for The 10 Best Affordable Neighborhoods in Boston, MA article

The 10 Best Affordable Neighborhoods in Boston, MA

Written by: Amelia Ramstead

Boston is known for its exciting combination of early American history and modern high-tech universities and employers.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.