Essex County, Massachusetts Housing Market Prices
Essex County 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 11% above the Massachusetts median$550,714
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Median rent About the same as the Massachusetts median Among the 5 most expensive counties in Massachusetts$1,755
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Essex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $550,714 | $494,523 | $248,835 |
| Price Trend (Annual %) | 9.0% | 6.6% | 7.5% |
| Median Gross Rent | $1,755 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Essex County is about 11% higher than in Massachusetts. Rent follows a similar pattern, running close to 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 Essex County, up about 9.0% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Essex County rose about 63.1% between 2015 and 2024, from $1,076 to $1,755. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Essex County.
Buying the median-priced home in Essex County costs roughly 26.1 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 Essex County. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Essex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $550,714 | $494,523 | $248,835 |
| Median Household Income | $102,063 | $104,336 | $80,455 |
| Price-to-Income Ratio | 5.4 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Essex County rose about 96.4%, while median household income rose about 54.9% 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 | Essex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.3% | 57.5% | 58.5% |
| Rental Rate | 34.8% | 34.4% | 31.2% |
| Vacancy Rate | 5.0% | 8.1% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Essex County has a homeownership rate of 60.3%, higher than the Massachusetts average of 57.5%. Its housing vacancy rate is 5.0%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Essex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1961 | 1963 | 1978 |
| Median Number of Rooms | 5.6 | 5.5 | 5.5 |
The typical housing unit in Essex County was built around 1961. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Essex County, MA Housing Compared With Nearby Counties
Essex County, MA is typical in size for this group, 810,585 residents against a local median of 729,949, so the measures below are close to a like for like comparison. Essex County, MA's median rent, at $1,755, runs 18% below the $2,129 typical of the counties around it.
The counties themselves spread $513 on median rent, so Essex County, MA sits at one end of an already wide local range rather than apart from it. Essex County, MA has the 4th highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Essex County, MA | 810,585 | $550,714 #4/6 | $1,755 #4/6 | 63.4% #4/6 |
| Suffolk County, MA | 779,263 | $753,442 | $2,129 | 36.4% |
| Rockingham County, NH | 319,036 | $476,549 | $1,687 | 78.4% |
| Middlesex County, MA | 1,636,094 | $718,434 | $2,200 | 61.3% |
| Norfolk County, MA | 729,949 | $597,016 | $2,149 | 68.7% |
| Plymouth County, MA | 534,586 | $463,963 | $1,747 | 77.6% |
Frequently Asked Questions
Common questions about the housing market in Essex County, Massachusetts.
What is the median home price in Essex County, Massachusetts?
The median home price in Essex County, Massachusetts is $550,714, higher than the Massachusetts average of $494,523.
What is the average home price in Essex County, Massachusetts?
The typical home price in Essex County, Massachusetts, reported as the median sale price, is $550,714. 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 Essex County, Massachusetts?
The median gross rent in Essex County, Massachusetts is $1,755 per month, about the same as the Massachusetts average.
What was the median gross rent in Essex County in 2020?
In 2020, the median gross rent in Essex County, Massachusetts was $1,298 per month.
What is the price-to-rent ratio in Essex County, Massachusetts?
The price-to-rent ratio in Essex County, Massachusetts is about 26.1, meaning it would take roughly 26.1 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 Essex County.
Are home prices or rent rising faster in Essex County, Massachusetts?
Both home prices and rent are rising in Essex County, up about 9.0% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Essex County, Massachusetts?
60.3% of households in Essex County, Massachusetts own their home, higher than the Massachusetts average of 57.5%.
What is the vacancy rate in Essex County, Massachusetts?
The housing vacancy rate in Essex County, Massachusetts is 5.0%, lower than the Massachusetts average of 8.1%.
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