Medford, Massachusetts Housing Market Prices
Medford 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.
-
Median home price 2% below the Massachusetts median$483,160
-
Median rent 42% above the Massachusetts median$2,507
Housing Market Overview
| Metric | Medford | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $483,160 | $494,523 | $248,835 |
| Price Trend (Annual %) | 8.1% | 6.6% | 7.5% |
| Median Gross Rent | $2,507 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.7% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Medford is about 2% lower than in Massachusetts. Rent is about 42% higher 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 Medford, up about 8.1% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Medford rose about 70.2% between 2015 and 2024, from $1,473 to $2,507. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Medford.
Buying the median-priced home in Medford costs roughly 16.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Medford. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Medford | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $483,160 | $494,523 | $248,835 |
| Median Household Income | $130,524 | $104,336 | $80,455 |
| Price-to-Income Ratio | 3.7 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Medford rose about 37.8%, while median household income rose about 78.1% 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 | Medford | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.4% | 57.5% | 58.5% |
| Rental Rate | 43.7% | 34.4% | 31.2% |
| Vacancy Rate | 4.9% | 8.1% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Medford has a homeownership rate of 51.4%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 4.9%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Medford | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1953 | 1963 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Medford was built around 1953. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Medford, MA Housing Compared With Nearby Cities
Medford, MA is the smallest of the 4 cities compared here, 59,237 residents against a local median of 81,027. The measure that sets Medford, MA apart most is homeownership: 54.0%, 58% above the local median of 34.2%. That is the better end of the local range on this measure.
The cities themselves sit within 7.8% of each other on homeownership, a tighter band than the gap between any of them and Medford, MA, which makes it a genuine outlier here rather than one end of a wide local spread. Medford, MA has the highest homeownership of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Medford, MA | 59,237 | $483,160 #4/4 | $2,507 #3/4 | 54.0% #1/4 |
| Somerville, MA | 81,027 | $545,588 | $2,519 | 34.2% |
| Cambridge, MA | 117,266 | $678,104 | $2,785 | 33.5% |
| Malden, MA | 66,048 | $556,837 | $2,203 | 41.3% |
Frequently Asked Questions
Common questions about the housing market in Medford, Massachusetts.
What is the median home price in Medford, Massachusetts?
The median home price in Medford, Massachusetts is $483,160, lower than the Massachusetts average of $494,523.
What is the average home price in Medford, Massachusetts?
The typical home price in Medford, Massachusetts, reported as the median sale price, is $483,160. 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 Medford, Massachusetts?
The median gross rent in Medford, Massachusetts is $2,507 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Medford in 2020?
In 2020, the median gross rent in Medford, Massachusetts was $2,001 per month.
What is the price-to-rent ratio in Medford, Massachusetts?
The price-to-rent ratio in Medford, Massachusetts is about 16.1, meaning it would take roughly 16.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Medford.
Are home prices or rent rising faster in Medford, Massachusetts?
Both home prices and rent are rising in Medford, up about 8.1% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Medford, Massachusetts?
51.4% of households in Medford, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Medford, Massachusetts?
The housing vacancy rate in Medford, Massachusetts is 4.9%, lower than the Massachusetts average of 8.1%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →