MELROSE, MA—Paying your monthly mortgage is generally a fixture homeowner’s monthly budget, but some mortgage bills are larger than others.
In fact, Melrose residents are paying smaller mortgage costs on average than the surrounding areas. According to the American Community Survey, 66.3 percent of residents are paying over $2,000 per month, a figure lower than the Middlesex County average.
According to the data, 67 percent of residents in Middlesex County pay more than $2,000 per month. While these costs may be commonplace in our area, 54 percent of Commonwealth residents pay more than $2,000 per month and just 30 percent of U.S. residents are paying that amount.
In addition, 4.7 percent of residents are paying between 500 and $1,000 per month, a number that is one percentage point more than the county total of 3.7 percent.
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