Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Berkshire County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $307,980 | $478,681 | $242,182 |
| Price Trend (Annual %) | 7.3% | 7.0% | 8.2% |
| Median Gross Rent | $1,042 | $1,687 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 5.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Berkshire County is about 36% lower than in Massachusetts. Rent is about 38% lower than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Berkshire County, up about 7.3% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Berkshire County rose about 38.2% between 2015 and 2023, from $754 to $1,042. Over the same span, rent in Massachusetts rose about 53.1%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Berkshire County.
Buying the median-priced home in Berkshire County costs roughly 24.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Berkshire County. The price-to-rent ratio in Massachusetts is about 23.6.
| Metric | Berkshire County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $307,980 | $478,681 | $242,182 |
| Median Household Income | $72,708 | $101,501 | $78,145 |
| Price-to-Income Ratio | 4.2 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Berkshire County rose about 82.6%, while median household income rose about 44.6% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Berkshire County | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.6% | 57.4% | 58.2% |
| Rental Rate | 24.3% | 34.3% | 31.3% |
| Vacancy Rate | 19.1% | 8.4% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Berkshire County has a homeownership rate of 56.6%, lower than the Massachusetts average of 57.4%. Its housing vacancy rate is 19.1%, compared with 8.4% in Massachusetts.
Housing Stock
| Metric | Berkshire County | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1955 | 1962 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Berkshire County was built around 1955. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Berkshire County, Massachusetts.
What is the median home price in Berkshire County, Massachusetts?
The median home price in Berkshire County, Massachusetts is $307,980, lower than the Massachusetts average of $478,681.
What is the average home price in Berkshire County, Massachusetts?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Berkshire County, Massachusetts?
The median gross rent in Berkshire County, Massachusetts is $1,042 per month, lower than the Massachusetts average of $1,687.
What was the median gross rent in Berkshire County in 2020?
In 2020, the median gross rent in Berkshire County, Massachusetts was $893 per month.
What is the price-to-rent ratio in Berkshire County, Massachusetts?
The price-to-rent ratio in Berkshire County, Massachusetts is about 24.6, meaning it would take roughly 24.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Berkshire County.
Are home prices or rent rising faster in Berkshire County, Massachusetts?
Both home prices and rent are rising in Berkshire County, up about 7.3% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Berkshire County, Massachusetts?
56.6% of households in Berkshire County, Massachusetts own their home, lower than the Massachusetts average of 57.4%.
What is the vacancy rate in Berkshire County, Massachusetts?
The housing vacancy rate in Berkshire County, Massachusetts is 19.1%, higher than the Massachusetts average of 8.4%.