After three decades of government policy aimed at home ownership and a fearsome housing market crash in 2007-2008, renting has become a more realistic option for many individuals and families.
In some places, like Boston, Cambridge, Somerville and Chelsea, this is more of the same. In other, more suburban locations, home, condo and apartment rentals are community-wide controversies.
At approximately 33 percent, Melrose lands right in the middle compared to surrounding communities. To the south, Malden and Medford have higher percentages of renters than Melrose, while to the North, Stoneham and Wakefield. Saugus next door also has a lower percentage of renters. Still, two-thirds of the city's housing units are owner-occupied.
The following chart shows the number of occupied housing units and the percentage of rentals vs. owner-occupied units in each community. The numbers were provided by the 2010 U.S. Census, except for the Boston neighborhood breakdowns, which were determined using the City of Boston's myNeighborhood Viewer tool, and represent approximations for each community.
Do you rent in the Melrose? If so, do you plan to buy at some point in the future? Would you buy in Melrose or move elsewhere? Tell us in the comments below.
|Community||Occupied Housing Units||% Rented||%Owner Occupied|