Cheap Homes for Rent in Downtown Melrose Neighborhood of Melrose, MA from $1,700 (36 Rentals)

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

property at 189 W Wyoming Ave

$1,950

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950

1 Bedroom Rentals

Available Jun 1

189 W Wyoming Ave

MelroseMA02176

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 340 Main St

$2,100

Total Monthly Price

Total Monthly Price

Base Rent
$2,100
Total Monthly Price
$2,100

1 Bedroom, 1 Bath Condo for Rent

Available Now

340 Main St

MelroseMA02176

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 134 Summer St

$2,300

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$2,300
Total Monthly Price
$2,300

1 Bedroom, 1 Bath Condo for Rent

Available Aug 1

134 Summer St

MaldenMA02148
property at 177 Franklin St

$2,400

Total Monthly Price

Total Monthly Price

Base Rent
$2,400
Total Monthly Price
$2,400

2 Bedroom, 1 Bath Condo for Rent

Available Now

177 Franklin St, Unit 2, Unit 2

177 Franklin St
StonehamMA02180

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 834 Main St

$2,425

Total Monthly Price

Total Monthly Price

Base Rent
$2,425
Total Monthly Price
$2,425

2 Bedroom, 1 Bath Townhome for Rent

Available Now

834 Main St

MelroseMA02176
property at 289 Elm St

$2,500

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$2,500
Total Monthly Price
$2,500

2 Bedroom, 2 Bath Condo for Rent

Available Now

289 Elm St, Unit 14, Unit 14

289 Elm St
MedfordMA02155
property at 21 Greenwood St

$2,400 - $2,500

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$2,500
Total Monthly Price
$2,500

2 Bedroom Rentals

Available May 1

21 Greenwood St

MelroseMA02176

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-36, Page 1 of 1

Downtown Melrose, Melrose, MA Local Guide

Cheapest Available Downtown Melrose Apartments for Rent

 

The cheapest available apartment rental in the Downtown Melrose area of Boston, MA is a Studio unit found at Altitude Apartments priced from $1,830. Myrtle Street has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,900. Here are the most affordable Downtown Melrose apartments for rent in Boston, MA:

Apartment ListingModel NameBed/BathPriced From
Altitude ApartmentsStudio - PremiumStudio,1BA$1,830
Myrtle Street1BR/1.0BA1BR,1BA$1,900
Towne EstatesOne Bedroom One Bathroom1BR,1BA$2,120
Malom Trust Apartments1 Bedroom1BR,1BA$2,200

Best Value Apartments for Rent in Downtown Melrose, MA

As of April 26, 2026 the best value apartment in the Downtown Melrose area is the $0.19 price per square foot 452 Main St Model at 452 Main St, Unit 4 in the in the Hammersmith Village neighborhood starting from $1,850. The second greatest value Downtown Melrose apartment is the 15 Crescent Ln Model at 15 Crescent Ln, Unit 15 Crescent LN Unit B starting at $3,000 with a $1.56 price per square foot in the Hammersmith Village 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.
452 Main St, Unit 4452 Main St1BR,1BA$0.19
15 Crescent Ln, Unit 15 Crescent LN Unit B15 Crescent Ln2BR,1BA$1.56
110 Crescent Ave, Unit 1110 Crescent Ave3BR,1BA$2.07
68 Pleasant St, Unit #168 Pleasant St2BR,1BA$2.08
28 Wolcott St, Unit 228 Wolcott St2BR,1BA$2.33
40 Grace St, Unit 140 Grace St2BR,1BA$2.20
97 Hawthorne St, Unit 197 Hawthorne St1BR,1BA$2.60
40 Hurd St40 Hurd St1BR,1BA$2.80
40 Hurd St, Unit 140 Hurd St1BR,1BA$2.80
67 Washington St, Unit 10267 Washington StStudio ,1BA$2.77

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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.

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Pet Friendly Lifestyle
Downtown Melrose, Melrose, MA

Ranked #5

Among cities in Massachusetts 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

Frequently Asked Questions about Downtown Melrose

What type of rentals are currently available in Downtown Melrose?

There are currently 204 Apartments for Rent in Downtown Melrose, MA with pricing that ranges from $1,200 to $18,827. There are also 77 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Melrose ranging from $1,725 to $25,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Melrose ranges from $1,725 to $25,000 with an average monthly rent of $5,693.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Melrose range from $2,650 to $4,348, while Three Bedroom Homes, Condos, and Townhomes for rent range from $3,000 to $4,850. Four Bedroom Single-Family rentals are also available starting from $3,800 and Four Bedroom Apartments start at $3,200.

Expert Rental Resources

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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