New Bedford, Massachusetts Housing Market Prices
New Bedford 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 51% below the Massachusetts median$241,780
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Median rent 35% below the Massachusetts median$1,137
Housing Market Overview
| Metric | New Bedford | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $241,780 | $494,523 | $248,835 |
| Price Trend (Annual %) | 4.5% | 6.6% | 7.5% |
| Median Gross Rent | $1,137 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 4.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New Bedford is about 51% lower than in Massachusetts. Rent is about 35% 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 New Bedford, up about 4.5% and 4.9% a year respectively. Rent is changing faster.
Median rent in New Bedford rose about 47.6% between 2015 and 2024, from $770 to $1,137. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in New Bedford.
Buying the median-priced home in New Bedford costs roughly 17.7 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 New Bedford. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | New Bedford | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $241,780 | $494,523 | $248,835 |
| Median Household Income | $57,090 | $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 New Bedford rose about 49.8%, while median household income rose about 49.5% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | New Bedford | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.4% | 57.5% | 58.5% |
| Rental Rate | 56.9% | 34.4% | 31.2% |
| Vacancy Rate | 4.7% | 8.1% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
New Bedford has a homeownership rate of 38.4%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 4.7%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | New Bedford | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1947 | 1963 | 1978 |
| Median Number of Rooms | 5.2 | 5.5 | 5.5 |
The typical housing unit in New Bedford was built around 1947. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in New Bedford, Massachusetts.
What is the median home price in New Bedford, Massachusetts?
The median home price in New Bedford, Massachusetts is $241,780, lower than the Massachusetts average of $494,523.
What is the average home price in New Bedford, Massachusetts?
The typical home price in New Bedford, Massachusetts, reported as the median sale price, is $241,780. 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 New Bedford, Massachusetts?
The median gross rent in New Bedford, Massachusetts is $1,137 per month, lower than the Massachusetts average of $1,761.
What was the median gross rent in New Bedford in 2020?
In 2020, the median gross rent in New Bedford, Massachusetts was $869 per month.
What is the price-to-rent ratio in New Bedford, Massachusetts?
The price-to-rent ratio in New Bedford, Massachusetts is about 17.7, meaning it would take roughly 17.7 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 New Bedford.
Are home prices or rent rising faster in New Bedford, Massachusetts?
Both home prices and rent are rising in New Bedford, up about 4.5% and 4.9% a year respectively. Rent is changing faster.
What is the homeownership rate in New Bedford, Massachusetts?
38.4% of households in New Bedford, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in New Bedford, Massachusetts?
The housing vacancy rate in New Bedford, Massachusetts is 4.7%, lower than the Massachusetts average of 8.1%.
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