Beverly, Massachusetts Housing Market Prices
Beverly Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 26% above the Massachusetts median$625,000
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Median rent 1% above the Massachusetts median$1,771
Housing Market Overview
| Metric | Beverly | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $625,000 | $494,523 | $248,835 |
| Price Trend (Annual %) | 13.0% | 6.6% | 7.5% |
| Median Gross Rent | $1,771 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Beverly is about 26% higher than in Massachusetts. Rent is about 1% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Beverly, up about 13.0% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Beverly rose about 60.8% between 2015 and 2024, from $1,102 to $1,771. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Beverly.
Buying the median-priced home in Beverly costs roughly 29.4 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 Beverly. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Beverly | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $625,000 | $494,523 | $248,835 |
| Median Household Income | $108,139 | $104,336 | $80,455 |
| Price-to-Income Ratio | 5.8 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Beverly rose about 2002.0%, while median household income rose about 52.7% between 2009 and 2025 — 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 | Beverly | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.9% | 57.5% | 58.5% |
| Rental Rate | 38.4% | 34.4% | 31.2% |
| Vacancy Rate | 3.7% | 8.1% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Beverly has a homeownership rate of 57.9%, about the same as the Massachusetts average of 57.5%. Its housing vacancy rate is 3.7%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Beverly | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1957 | 1963 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Beverly was built around 1957. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Beverly, Massachusetts.
What is the median home price in Beverly, Massachusetts?
The median home price in Beverly, Massachusetts is $625,000, higher than the Massachusetts average of $494,523.
What is the average home price in Beverly, Massachusetts?
The typical home price in Beverly, Massachusetts, reported as the median sale price, is $625,000. 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 Beverly, Massachusetts?
The median gross rent in Beverly, Massachusetts is $1,771 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Beverly in 2020?
In 2020, the median gross rent in Beverly, Massachusetts was $1,308 per month.
What is the price-to-rent ratio in Beverly, Massachusetts?
The price-to-rent ratio in Beverly, Massachusetts is about 29.4, meaning it would take roughly 29.4 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 Beverly.
Are home prices or rent rising faster in Beverly, Massachusetts?
Both home prices and rent are rising in Beverly, up about 13.0% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Beverly, Massachusetts?
57.9% of households in Beverly, Massachusetts own their home, higher than the Massachusetts average of 57.5%.
What is the vacancy rate in Beverly, Massachusetts?
The housing vacancy rate in Beverly, Massachusetts is 3.7%, lower than the Massachusetts average of 8.1%.
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