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 | Dukes County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,328,947 | $478,681 | $242,182 |
| Price Trend (Annual %) | 12.7% | 7.0% | 8.2% |
| Median Gross Rent | $1,371 | $1,687 | $1,342 |
| Rent Trend (Annual %) | -0.3% | 5.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dukes County is about 178% higher than in Massachusetts. Rent is about 19% lower than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Dukes County: home prices rose about 12.7% a year while rent fell about 0.3% a year. That is an unusual pattern worth watching.
Median rent in Dukes County fell about 3.9% between 2015 and 2023, from $1,427 to $1,371. Over the same span, rent in Massachusetts rose about 53.1%.
Affordability
On average, housing unit costs 12.6 yearly household incomes in Dukes County.
Buying the median-priced home in Dukes County costs roughly 80.8 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 Dukes County. The price-to-rent ratio in Massachusetts is about 23.6.
| Metric | Dukes County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,328,947 | $478,681 | $242,182 |
| Median Household Income | $105,601 | $101,501 | $78,145 |
| Price-to-Income Ratio | 12.6 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Dukes County rose about 168.0%, while median household income rose about 68.6% 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 | Dukes County | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 31.0% | 57.4% | 58.2% |
| Rental Rate | 10.5% | 34.3% | 31.3% |
| Vacancy Rate | 58.4% | 8.4% | 10.6% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Dukes County has a homeownership rate of 31.0%, lower than the Massachusetts average of 57.4%. Its housing vacancy rate is 58.4%, compared with 8.4% in Massachusetts.
Housing Stock
| Metric | Dukes County | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.78 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1972 | 1962 | 1978 |
| Median Number of Rooms | 6.0 | 5.5 | 5.5 |
The typical housing unit in Dukes County was built around 1972. On average, 2.8 people live in a home with about 6.0 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dukes County, Massachusetts.
What is the median home price in Dukes County, Massachusetts?
The median home price in Dukes County, Massachusetts is $1,328,947, higher than the Massachusetts average of $478,681.
What is the average home price in Dukes 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 Dukes County, Massachusetts?
The median gross rent in Dukes County, Massachusetts is $1,371 per month, lower than the Massachusetts average of $1,687.
What was the median gross rent in Dukes County in 2020?
In 2020, the median gross rent in Dukes County, Massachusetts was $1,589 per month.
What is the price-to-rent ratio in Dukes County, Massachusetts?
The price-to-rent ratio in Dukes County, Massachusetts is about 80.8, meaning it would take roughly 80.8 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 Dukes County.
Are home prices or rent rising faster in Dukes County, Massachusetts?
Home prices and rent are moving in opposite directions in Dukes County: home prices rose about 12.7% a year while rent fell about 0.3% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Dukes County, Massachusetts?
31.0% of households in Dukes County, Massachusetts own their home, lower than the Massachusetts average of 57.4%.
What is the vacancy rate in Dukes County, Massachusetts?
The housing vacancy rate in Dukes County, Massachusetts is 58.4%, higher than the Massachusetts average of 8.4%.