Cheap Apartments for Rent in the Downtown Melrose Neighborhood of Melrose, MA from $700 (93 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article
property at 83 Marvin Rd

83 Marvin Rd

MelroseMA02176

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article
close
View Me
119 West Wyoming
1 Bedroom Apartments

119 West Wyoming

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

32 Tappan St.

32 Tappan StMelrose, MA 02176

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

Read Article

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

Read Article
property at 105 Summer St

105 Summer St

MaldenMA02148
Showing Results 1-50, Page 1 of 2

Downtown Melrose, Melrose, MA Local Guide

Cheapest Available Downtown Melrose Apartments for Rent

 
Apartment ListingModel NameBed/BathPriced From
30 Howard St7H Falmouth1BR,1BA$1,600

Best Value Apartments for Rent in Downtown Melrose, MA

As of May 11, 2025 the best value apartment in the Downtown Melrose area is the $0.65 price per square foot 476 Fulton St Model at 476 Fulton St, Unit 1 in the in the Ferryway neighborhood starting from $6,500. 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.
476 Fulton St, Unit 1476 Fulton St5BR,4.5BA$0.65
20 Washington Pl, Unit #11420 Washington Pl2BR,1BA$0.24
22 Linden Rd22 Linden Rd2BR,1BA$0.25
106 Laurel St, Unit #1106 Laurel St1BR,1BA$0.26
119 Myrtle St, Unit #1119 Myrtle St1BR,1BA$0.18
110 Laurel St, Unit #1110 Laurel St2BR,1BA$0.26
69 Washington St, Unit #1869 Washington St1BR,1BA$0.20
51 Mount Vernon St, Unit #551 Mount Vernon St2BR,1.5BA$0.28
82 Trueman Dr, Unit #182 Trueman Dr3BR,1BA$0.29
230 Mountain Ave, Unit 230230 Mountain Ave3BR,2.5BA$1.88

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

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

decorative image of woman handing cat to small boy

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®

51 / 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 a cheap apartment in Downtown Melrose?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Melrose is under $1,600.

What is the price of a cheap apartment in Downtown Melrose?

The cheapest apartment in Downtown Melrose is 30 Howard St which is listed at $1,600, while the average apartment in Downtown Melrose costs $5,495.

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.