Lowell, Massachusetts Housing Market Prices
Lowell 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 3% above the Massachusetts median$510,000
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Median rent 8% below the Massachusetts median$1,625
Housing Market Overview
| Metric | Lowell | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $510,000 | $494,523 | $248,835 |
| Price Trend (Annual %) | 11.4% | 6.6% | 7.5% |
| Median Gross Rent | $1,625 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lowell is about 3% higher than in Massachusetts. Rent is about 8% 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 Lowell, up about 11.4% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Lowell rose about 61.9% between 2015 and 2024, from $1,004 to $1,625. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 6.5 yearly household incomes in Lowell.
Buying the median-priced home in Lowell costs roughly 26.2 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 Lowell. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Lowell | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $510,000 | $494,523 | $248,835 |
| Median Household Income | $78,628 | $104,336 | $80,455 |
| Price-to-Income Ratio | 6.5 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lowell rose about 110.8%, while median household income rose about 47.1% 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 | Lowell | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.6% | 57.5% | 58.5% |
| Rental Rate | 54.7% | 34.4% | 31.2% |
| Vacancy Rate | 3.7% | 8.1% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Lowell has a homeownership rate of 41.6%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 3.7%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Lowell | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1954 | 1963 | 1978 |
| Median Number of Rooms | 4.8 | 5.5 | 5.5 |
The typical housing unit in Lowell was built around 1954. On average, 2.6 people live in a home with about 4.8 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lowell, Massachusetts.
What is the median home price in Lowell, Massachusetts?
The median home price in Lowell, Massachusetts is $510,000, higher than the Massachusetts average of $494,523.
What is the average home price in Lowell, Massachusetts?
The typical home price in Lowell, Massachusetts, reported as the median sale price, is $510,000. 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 Lowell, Massachusetts?
The median gross rent in Lowell, Massachusetts is $1,625 per month, lower than the Massachusetts average of $1,761.
What was the median gross rent in Lowell in 2020?
In 2020, the median gross rent in Lowell, Massachusetts was $1,228 per month.
What is the price-to-rent ratio in Lowell, Massachusetts?
The price-to-rent ratio in Lowell, Massachusetts is about 26.2, meaning it would take roughly 26.2 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 Lowell.
Are home prices or rent rising faster in Lowell, Massachusetts?
Both home prices and rent are rising in Lowell, up about 11.4% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lowell, Massachusetts?
41.6% of households in Lowell, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Lowell, Massachusetts?
The housing vacancy rate in Lowell, Massachusetts is 3.7%, lower than the Massachusetts average of 8.1%.
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