Cheap Apartments for Rent in the Downtown Melrose Neighborhood of Melrose, MA from $1,500 (66 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Melrose area of 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
property at 340 Main St

340 Main St

MelroseMA02176
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119 West Wyoming
1 Bedroom Apartments

119 West Wyoming

119 W Wyoming AveMelrose, MA 02176
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32 Tappan St.
2 Bedroom Apartments

32 Tappan St.

32 Tappan StMelrose, MA 02176
Showing Results 1-50, Page 1 of 2

Downtown Melrose, Melrose, MA Local Guide

Best Value Apartments for Rent in Downtown Melrose, MA

As of March 27, 2025 the best value apartment in the Downtown Melrose area is the $0.53 price per square foot 480 Fulton St Model at 480 Fulton St, Unit Right in the in the Ferryway neighborhood starting from $5,300. The second greatest value Downtown Melrose apartment is the 20 Washington Pl Model at 20 Washington Pl, Unit #114 starting at $2,375 with a $0.24 price per square foot in the Ferryway neighborhood. Here is today’s list of the best values for Downtown Melrose apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
480 Fulton St, Unit Right480 Fulton St4BR,4.5BA$0.53
20 Washington Pl, Unit #11420 Washington Pl2BR,1BA$0.24
69 Washington St, Unit #1869 Washington St1BR,1BA$0.20
208 Washington St, Unit #1208 Washington St2BR,1.5BA$1.99
230 Mountain Ave, Unit 230230 Mountain Ave3BR,2.5BA$1.88
584 Salem St, Unit 3584 Salem St3BR,1BA$2.03
71 Granville Ave, Unit #171 Granville Ave1BR,1BA$1.92
40 Clark St, Unit #340 Clark St2BR,2BA$2.09
592 Highland Ave, Unit #2FL592 Highland Ave2BR,1BA$2.20
330 Salem St, Unit 11330 Salem St1BR,1BA$1.58

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Pet Friendly Lifestyle
Downtown Melrose, Melrose, MA

Ranked #6

Among neighborhoods in Melrose, MA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Melrose, Melrose, MA

School data provided by Great Schools

Best Local Schools in
Downtown Melrose, Melrose, MA

School data provided by Great Schools

Getting Around the Downtown Melrose Neighborhood in Melrose, MA

Walk Score®

92 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

52 / 100

Bikeable

Some bike infrastructure

Transit Score®

37 / 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 Downtown Melrose Apartments

What is the Cheapest Studio apartment in Downtown Melrose?

Currently the most affordable Cheap Studio Apartment in Downtown Melrose is at Malden Square Apartments listed at $2,120.

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

The lowest price for a Cheap One Bedroom Downtown Melrose Apartment is $1,575 at .

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

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

What is the most affordable Downtown Melrose Three Bedroom Apartment?

The best deal on a cheap Downtown Melrose Three Bedroom Apartment rental is at and starts from $2,600.

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.

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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.