Housing Market Overview
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 Map: Nearby Counties
Housing Market Overview
| Metric | Middlesex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $682,690 | $478,681 | $242,182 |
| Price Trend (Annual %) | 9.0% | 7.0% | 8.2% |
| Median Gross Rent | $2,125 | $1,687 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 5.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Middlesex County is about 43% higher than in Massachusetts. Rent is about 26% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Middlesex County, up about 9.0% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Middlesex County rose about 58.4% between 2015 and 2023, from $1,342 to $2,125. Over the same span, rent in Massachusetts rose about 53.1%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Middlesex County.
Buying the median-priced home in Middlesex County costs roughly 26.8 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 Middlesex County. The price-to-rent ratio in Massachusetts is about 23.6.
| Metric | Middlesex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $682,690 | $478,681 | $242,182 |
| Median Household Income | $126,905 | $101,501 | $78,145 |
| Price-to-Income Ratio | 5.4 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Middlesex County rose about 92.4%, while median household income rose about 64.2% between 2009 and 2023 — 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 | Middlesex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.9% | 57.4% | 58.2% |
| Rental Rate | 36.6% | 34.3% | 31.3% |
| Vacancy Rate | 4.5% | 8.4% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Middlesex County has a homeownership rate of 58.9%, higher than the Massachusetts average of 57.4%. Its housing vacancy rate is 4.5%, compared with 8.4% in Massachusetts.
Housing Stock
| Metric | Middlesex County | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1962 | 1962 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Middlesex County was built around 1962. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Middlesex County, Massachusetts.
What is the median home price in Middlesex County, Massachusetts?
The median home price in Middlesex County, Massachusetts is $682,690, higher than the Massachusetts average of $478,681.
What is the average home price in Middlesex County, Massachusetts?
The typical home price in %s, reported as the median sale price, is %s. 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 Middlesex County, Massachusetts?
The median gross rent in Middlesex County, Massachusetts is $2,125 per month, higher than the Massachusetts average of $1,687.
What was the median gross rent in Middlesex County in 2020?
In 2020, the median gross rent in Middlesex County, Massachusetts was $1,713 per month.
What is the price-to-rent ratio in Middlesex County, Massachusetts?
The price-to-rent ratio in Middlesex County, Massachusetts is about 26.8, meaning it would take roughly 26.8 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 Middlesex County.
Are home prices or rent rising faster in Middlesex County, Massachusetts?
Both home prices and rent are rising in Middlesex County, up about 9.0% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Middlesex County, Massachusetts?
58.9% of households in Middlesex County, Massachusetts own their home, higher than the Massachusetts average of 57.4%.
What is the vacancy rate in Middlesex County, Massachusetts?
The housing vacancy rate in Middlesex County, Massachusetts is 4.5%, lower than the Massachusetts average of 8.4%.