Home Insurance in Melrose, Massachusetts
Homes in Melrose carry a median value of $822,900 - 13% higher than the Middlesex County median.
The median home in Melrose was built in 1939 or earlier. About 70% of homes were built before 1960, about 22 points above Middlesex County's 48%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Melrose is 57% single-family homes, 28% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Melrose, about 67% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 67% of occupied homes in Melrose are owner-occupied. The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Melrose, 63% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Melrose? FEMA's National Risk Index points to inland flooding (Relatively High) in Middlesex County and Middlesex County had 6,818 active NFIP flood policies as of September 2026. See the full Middlesex County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in Massachusetts is $2,134 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $822,900 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 67% |
| Share of owner-occupied homes with a mortgage | 67% |
| Top county hazard | Inland Flooding (Relatively High) |
| Active NFIP policies in Middlesex County | 6,818 |
| Home insurance premium | $2,134 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)