Cambridge, Massachusetts Housing Market Prices
Cambridge 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 37% above the Massachusetts median$678,104
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Median rent 58% above the Massachusetts median$2,785
Housing Market Overview
| Metric | Cambridge | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $678,104 | $494,523 | $248,835 |
| Price Trend (Annual %) | -0.3% | 6.6% | 7.5% |
| Median Gross Rent | $2,785 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cambridge is about 37% higher than in Massachusetts. Rent is about 58% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Cambridge: home prices fell about 0.3% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
Median rent in Cambridge rose about 65.2% between 2015 and 2024, from $1,686 to $2,785. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Cambridge.
Buying the median-priced home in Cambridge costs roughly 20.3 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 Cambridge. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Cambridge | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $678,104 | $494,523 | $248,835 |
| Median Household Income | $131,513 | $104,336 | $80,455 |
| Price-to-Income Ratio | 5.2 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cambridge rose about 7.6%, while median household income rose about 92.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Cambridge | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 30.2% | 57.5% | 58.5% |
| Rental Rate | 60.0% | 34.4% | 31.2% |
| Vacancy Rate | 9.8% | 8.1% | 10.2% |
| Median Tenure (years) | 9.0 | 16.0 | 15.0 |
| Median Year Moved In | 2017 | 2010 | 2011 |
Cambridge has a homeownership rate of 30.2%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 9.8%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Cambridge | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.08 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1959 | 1963 | 1978 |
| Median Number of Rooms | 4.1 | 5.5 | 5.5 |
The typical housing unit in Cambridge was built around 1959. On average, 2.1 people live in a home with about 4.1 rooms, staying for about 9.0 years on average.
Cambridge, MA Housing Compared With Nearby Cities
Cambridge, MA is the largest of the 5 cities compared here, 117,266 residents against a local median of 61,217. The measure that sets Cambridge, MA apart most is homeownership: 33.5%, 34% below the local median of 50.4%. That is the weaker end of the local range on this measure.
Median home price tells the same story from another angle: $678,104 against a local median of $892,754, 24% below it. The cities themselves spread 27.4% on homeownership, so Cambridge, MA sits at one end of an already wide local range rather than apart from it. Cambridge, MA has the 5th highest homeownership of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Cambridge, MA | 117,266 | $678,104 #3/5 | $2,785 #2/5 | 33.5% #5/5 |
| Somerville, MA | 81,027 | $545,588 | $2,519 | 34.2% |
| Medford, MA | 59,237 | $483,160 | $2,507 | 54.0% |
| Brookline, MA | 63,198 | $1,239,921 | $2,834 | 46.8% |
| Arlington, MA | 46,270 | $1,743,589 | $2,082 | 61.6% |
Frequently Asked Questions
Common questions about the housing market in Cambridge, Massachusetts.
What is the median home price in Cambridge, Massachusetts?
The median home price in Cambridge, Massachusetts is $678,104, higher than the Massachusetts average of $494,523.
What is the average home price in Cambridge, Massachusetts?
The typical home price in Cambridge, Massachusetts, reported as the median sale price, is $678,104. 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 Cambridge, Massachusetts?
The median gross rent in Cambridge, Massachusetts is $2,785 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Cambridge in 2020?
In 2020, the median gross rent in Cambridge, Massachusetts was $2,291 per month.
What is the price-to-rent ratio in Cambridge, Massachusetts?
The price-to-rent ratio in Cambridge, Massachusetts is about 20.3, meaning it would take roughly 20.3 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 Cambridge.
Are home prices or rent rising faster in Cambridge, Massachusetts?
Home prices and rent are moving in opposite directions in Cambridge: home prices fell about 0.3% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Cambridge, Massachusetts?
30.2% of households in Cambridge, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Cambridge, Massachusetts?
The housing vacancy rate in Cambridge, Massachusetts is 9.8%, higher than the Massachusetts average of 8.1%.
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