Chelsea, Massachusetts Housing Market Prices
Chelsea 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 29% below the Massachusetts median$350,000
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Median rent 11% above the Massachusetts median$1,955
Housing Market Overview
| Metric | Chelsea | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $494,523 | $248,835 |
| Price Trend (Annual %) | 3.9% | 6.6% | 7.5% |
| Median Gross Rent | $1,955 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chelsea is about 29% lower than in Massachusetts. Rent is about 11% 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 Chelsea, up about 3.9% and 6.4% a year respectively. Rent is changing faster.
Median rent in Chelsea rose about 67.1% between 2015 and 2024, from $1,170 to $1,955. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Chelsea.
Buying the median-priced home in Chelsea costs roughly 14.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Chelsea. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Chelsea | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $494,523 | $248,835 |
| Median Household Income | $72,289 | $104,336 | $80,455 |
| Price-to-Income Ratio | 4.8 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Chelsea rose about 33.6%, while median household income rose about 74.7% 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 | Chelsea | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 25.2% | 57.5% | 58.5% |
| Rental Rate | 71.6% | 34.4% | 31.2% |
| Vacancy Rate | 3.2% | 8.1% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Chelsea has a homeownership rate of 25.2%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 3.2%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Chelsea | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.85 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1955 | 1963 | 1978 |
| Median Number of Rooms | 4.3 | 5.5 | 5.5 |
The typical housing unit in Chelsea was built around 1955. On average, 2.8 people live in a home with about 4.3 rooms, staying for about 11.0 years on average.
Chelsea, MA Housing Compared With Nearby Cities
Chelsea, MA is the 5th largest of the 6 cities compared here, 39,880 residents against a local median of 60,022. Chelsea, MA's median home price, at $350,000, runs 53% below the $746,315 typical of the cities around it.
Homeownership tells the same story from another angle: 26.0% against a local median of 41.3%, 37% below it. The one measure here that carries a verdict is homeownership, and at 37% below the local median it puts Chelsea, MA at the weaker end of the local range. The cities themselves spread $313,354 on median home price, so Chelsea, MA sits at one end of an already wide local range rather than apart from it. Chelsea, MA has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Chelsea, MA | 39,880 | $350,000 #6/6 | $1,955 #6/6 | 26.0% #6/6 |
| Everett, MA | 49,993 | $624,999 | $2,076 | 37.2% |
| Malden, MA | 66,048 | $556,837 | $2,203 | 41.3% |
| Revere, MA | 60,022 | $814,815 | $2,076 | 45.6% |
| Melrose, MA | 29,648 | $870,192 | $1,969 | 67.2% |
| Boston, MA | 660,627 | $746,315 | $2,147 | 35.6% |
Frequently Asked Questions
Common questions about the housing market in Chelsea, Massachusetts.
What is the median home price in Chelsea, Massachusetts?
The median home price in Chelsea, Massachusetts is $350,000, lower than the Massachusetts average of $494,523.
What is the average home price in Chelsea, Massachusetts?
The typical home price in Chelsea, Massachusetts, reported as the median sale price, is $350,000. 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 Chelsea, Massachusetts?
The median gross rent in Chelsea, Massachusetts is $1,955 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Chelsea in 2020?
In 2020, the median gross rent in Chelsea, Massachusetts was $1,473 per month.
What is the price-to-rent ratio in Chelsea, Massachusetts?
The price-to-rent ratio in Chelsea, Massachusetts is about 14.9, meaning it would take roughly 14.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Chelsea.
Are home prices or rent rising faster in Chelsea, Massachusetts?
Both home prices and rent are rising in Chelsea, up about 3.9% and 6.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Chelsea, Massachusetts?
25.2% of households in Chelsea, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Chelsea, Massachusetts?
The housing vacancy rate in Chelsea, Massachusetts is 3.2%, lower than the Massachusetts average of 8.1%.
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