Framingham, Massachusetts Housing Market Prices
Framingham 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 89% below the Massachusetts median$55,000
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Median rent 15% above the Massachusetts median$2,033
Housing Market Overview
| Metric | Framingham | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,000 | $494,523 | $248,835 |
| Price Trend (Annual %) | -7.8% | 6.6% | 7.5% |
| Median Gross Rent | $2,033 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.5% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Framingham is about 89% lower than in Massachusetts. Rent is about 15% 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 Framingham: home prices fell about 7.8% a year while rent rose about 6.5% a year. That is an unusual pattern worth watching.
Median rent in Framingham rose about 70.9% between 2015 and 2024, from $1,189 to $2,033. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Framingham.
Buying the median-priced home in Framingham costs roughly 2.3 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 Framingham. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Framingham | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $55,000 | $494,523 | $248,835 |
| Median Household Income | $107,525 | $104,336 | $80,455 |
| Price-to-Income Ratio | 0.5 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Framingham fell about 75.6%, while median household income rose about 54.8% 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 | Framingham | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.6% | 57.5% | 58.5% |
| Rental Rate | 43.4% | 34.4% | 31.2% |
| Vacancy Rate | 4.0% | 8.1% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Framingham has a homeownership rate of 52.6%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 4.0%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Framingham | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1966 | 1963 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Framingham was built around 1966. On average, 2.6 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Framingham, Massachusetts.
What is the median home price in Framingham, Massachusetts?
The median home price in Framingham, Massachusetts is $55,000, lower than the Massachusetts average of $494,523.
What is the average home price in Framingham, Massachusetts?
The typical home price in Framingham, Massachusetts, reported as the median sale price, is $55,000. 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 Framingham, Massachusetts?
The median gross rent in Framingham, Massachusetts is $2,033 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Framingham in 2020?
In 2020, the median gross rent in Framingham, Massachusetts was $1,420 per month.
What is the price-to-rent ratio in Framingham, Massachusetts?
The price-to-rent ratio in Framingham, Massachusetts is about 2.3, meaning it would take roughly 2.3 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 Framingham.
Are home prices or rent rising faster in Framingham, Massachusetts?
Home prices and rent are moving in opposite directions in Framingham: home prices fell about 7.8% a year while rent rose about 6.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Framingham, Massachusetts?
52.6% of households in Framingham, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Framingham, Massachusetts?
The housing vacancy rate in Framingham, Massachusetts is 4.0%, lower than the Massachusetts average of 8.1%.
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