ZIP Code · MA

ZIP 02176

Part of Melrose, MA

Pop. 29,650·Middlesex County·49th most expensive ZIP in Massachusetts

Median rent (all units)

$3,031/mo

Year-over-Year

+3.7%

Month-over-Month

+0.7%

vs US Median

+$1,099

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 02176 · $3,031

More expensive than 91% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$2,260

1 BR

$2,370

2 BR

$2,820

3 BR

$3,380

4 BR+

$3,730

Research median

$2,820/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 02176 usually run 2% below trend in January and 2% above it in June, about $121 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 02176 is at its highest level since Zillow's records here began in April 2018.

Past year vs. the rest of Massachusetts

Rent in ZIP 02176 changed +3.7% over the year to September 2026. Across the 140 Massachusetts ZIP codes Zillow tracks, the typical change was +3.0%.

Since before the pandemic

Rent in ZIP 02176 is 33.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 4 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($133,953) is $3,349 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,820); a 3-bedroom is $3,380.

Cheaper nearby

ZIP 01905, 4 miles away, rents for 16% less ($2,543/mo), about $5,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 02176. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$36,372/yr

At $3,031/mo median

Location

CityMelrose

StateMA

CountyMiddlesex County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.7% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 02176 (Melrose, MA) is majority owner-occupied, has a large retiree population, has a median income above the national average, 62% of residents hold a bachelor's degree or higher.

Population

29,650

Median income

$133,953

Median age

43.6

Renters

32.8%

Age distribution

20.2%

15.3%

31.4%

12.6%

20.6%

Under 1820.2%

18–3415.3%

35–5431.4%

55–6412.6%

65+20.6%

Gender

49%

51%

Male49%

Female51%

Race & ethnicity

77.9%

White77.9%

Black1.6%

Hispanic5.2%

Asian11%

Other4.4%

Education (25+)

17.6%

15.7%

62%

No HS diploma4.7%

HS diploma17.6%

Some college15.7%

Bachelor's+62%

Housing tenure

67.2%

32.8%

Owner67.2%

Renter32.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 02176 in Melrose, MA has changed in 5 years

Rent

$2,185 → $3,031

up 38.7%

Income

$125,000 → $133,953

up 7.2%

Population

29,401 → 29,650

up 0.8%

Renter share

33.6% → 32.8%

-0.8 pts

Bachelor's+

61.7% → 62%

+0.3 pts

Median age

42.1 → 43.6

+1.5 yrs

The median rent in ZIP 02176 in Melrose, MA stood at $2,185 in 2021 and currently runs about $3,031, reflecting a 38.7% increase over the period. Median household income rose from $125,000 to $133,953 between 2021 and 2024, a 7.2% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Taken together, the five-year picture in ZIP 02176 in Melrose, MA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 02176

Last updated: October 17, 2026

ZIP code 02176 covers Melrose, MA. The median rent here is $3,031/mo as of October 2026. A 1-bedroom rents for a median of $2,370/mo. A 2-bedroom rents for a median of $2,820/mo.

At 27% of local median household income ($133,953/yr), ZIP 02176 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 02176?

To keep rent at or below 30% of gross income, you would need to earn at least $121,000/year (about $58/hour full-time) to afford the median rent of $3,031/mo in ZIP 02176. The local median household income is $133,953/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 02176?

Rent in ZIP 02176 has risen 3.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in April 2018.

When is the cheapest time to rent in ZIP 02176?

Asking rents in ZIP 02176 are usually lowest in January, about 2% below their yearly trend, and highest in June, about 2% above it. At today's median that is a gap of roughly $121 a month. This pattern comes from 7 years of Zillow rent data.

How does ZIP 02176 compare to other ZIPs in Massachusetts?

ZIP 02176 is one of the pricier among Massachusetts ZIP codes for rent, ranking #49 of 164 at $3,031/mo. Over the year to September 2026, rent in ZIP 02176 changed +3.7%, against a typical +3.0% across the 140 Massachusetts ZIP codes Zillow tracks.