Leominster, Massachusetts Housing Market Prices
Leominster 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 23% below the Massachusetts median$1,353
Housing Market Overview
| Metric | Leominster | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $494,523 | $248,835 |
| Price Trend (Annual %) | 14.3% | 6.6% | 7.5% |
| Median Gross Rent | $1,353 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Leominster is about 29% lower than in Massachusetts. Rent is about 23% lower 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 Leominster, up about 14.3% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Leominster rose about 52.9% between 2015 and 2024, from $885 to $1,353. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Leominster.
Buying the median-priced home in Leominster costs roughly 21.6 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 Leominster. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Leominster | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $494,523 | $248,835 |
| Median Household Income | $83,861 | $104,336 | $80,455 |
| Price-to-Income Ratio | 4.2 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Leominster rose about 82.9%, while median household income rose about 35.7% 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 | Leominster | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.8% | 57.5% | 58.5% |
| Rental Rate | 36.2% | 34.4% | 31.2% |
| Vacancy Rate | 4.0% | 8.1% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Leominster has a homeownership rate of 59.8%, higher than the Massachusetts average of 57.5%. Its housing vacancy rate is 4.0%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Leominster | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1969 | 1963 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in Leominster was built around 1969. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 15.0 years on average.
Leominster, MA Housing Compared With Nearby Cities
How Leominster, MA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Leominster, MA | 43,909 | $350,000 #1/2 | $1,353 #1/2 | 62.3% #1/2 |
| Fitchburg, MA | 41,780 | $289,769 | $1,221 | 54.1% |
Frequently Asked Questions
Common questions about the housing market in Leominster, Massachusetts.
What is the median home price in Leominster, Massachusetts?
The median home price in Leominster, Massachusetts is $350,000, lower than the Massachusetts average of $494,523.
What is the average home price in Leominster, Massachusetts?
The typical home price in Leominster, 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 Leominster, Massachusetts?
The median gross rent in Leominster, Massachusetts is $1,353 per month, lower than the Massachusetts average of $1,761.
What was the median gross rent in Leominster in 2020?
In 2020, the median gross rent in Leominster, Massachusetts was $1,006 per month.
What is the price-to-rent ratio in Leominster, Massachusetts?
The price-to-rent ratio in Leominster, Massachusetts is about 21.6, meaning it would take roughly 21.6 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 Leominster.
Are home prices or rent rising faster in Leominster, Massachusetts?
Both home prices and rent are rising in Leominster, up about 14.3% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Leominster, Massachusetts?
59.8% of households in Leominster, Massachusetts own their home, higher than the Massachusetts average of 57.5%.
What is the vacancy rate in Leominster, Massachusetts?
The housing vacancy rate in Leominster, Massachusetts is 4.0%, lower than the Massachusetts average of 8.1%.
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