Cheap Homes for Rent in Melrose, MA from $900 (182 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Cheap Homes in Melrose.

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

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
Showing Results 1-50, Page 1 of 4

Melrose, MA Local Guide

Cheapest Available Melrose Apartments for Rent

 

The cheapest available apartment rental in Melrose, MA is a 1 Bed unit found at 30 Howard St in the Hammersmith Village neighborhood priced from $1,600. Parkwood Apartments in the Ferryway neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,700. Here is today’s list of the most affordable Melrose apartments for rent:

Apartment ListingModel NameBed/BathPriced From
30 Howard St7H Falmouth1BR,1BA$1,600
Parkwood ApartmentsStudio, non-renovatedStudio,1BA$1,700
The Chase at Overlook RidgeDesign EB-EStudio,1BA$1,799
Altitude ApartmentsStudio - PremiumStudio,1BA$1,850

Best Value Apartments for Rent in Melrose, MA

As of May 03, 2025 the best value apartment in the Melrose area is the $0.21 price per square foot 61 Exchange St Model at 61 Exchange St, Unit 8 in the in the Ferryway neighborhood starting from $2,100. The second greatest value Melrose apartment is the 21 Essex St Model at 21 Essex St, Unit #6 starting at $2,650 with a $0.27 price per square foot in the East Saugus 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.
61 Exchange St, Unit 861 Exchange St1BR,1BA$0.21
21 Essex St, Unit #621 Essex St3BR,1BA$0.27
23 Essex St, Unit #423 Essex St1BR,1BA$0.15
339 Pleasant St, Unit #A1-9339 Pleasant StStudio ,1BA$0.18
15 Locust St, Unit 2A15 Locust St2BR,1BA$0.25
11 Belmont St, Unit #311 Belmont St3BR,1BA$0.29
135-137 Mills St, Unit 1135-137 Mills St2BR,1BA$0.26
9 Shawmut Ter, Unit #19 Shawmut Ter1BR,1BA$0.20
51 Mount Vernon St, Unit #551 Mount Vernon St2BR,1.5BA$0.28
60 Cecilian Ave, Unit #B60 Cecilian Ave1BR,1BA$0.25

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

Frequently Asked Questions about Melrose

What type of rentals are currently available in Melrose?

There are currently 695 Apartments for Rent in Melrose, MA with pricing that ranges from $1,500 to $16,222. There are also 390 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melrose ranging from $975 to $7,975.

What is the current price range for Rental Homes in Melrose?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Melrose ranges from $975 to $7,975 with an average monthly rent of $4,438.

How much are larger Three and Four Bedroom Rentals in Melrose?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Melrose range from $2,650 to $16,222, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,000 to $5,800. Four Bedroom Single-Family rentals are also available starting from $2,700 and Four Bedroom Apartments start at $3,000.

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 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.

decorative image for Rise of Digital Nomads: Remote Work Tips for Apartment Renters article

Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords and Tenants article

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.