Reading, Massachusetts Housing Market Prices
Reading 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 153% above the Massachusetts median$1,249,970
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Median rent 13% above the Massachusetts median$1,990
Housing Market Overview
| Metric | Reading | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,249,970 | $494,523 | $248,835 |
| Price Trend (Annual %) | 21.1% | 6.6% | 7.5% |
| Median Gross Rent | $1,990 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Reading is about 153% higher than in Massachusetts. Rent is about 13% 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 Reading, up about 21.1% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Reading rose about 55.3% between 2015 and 2024, from $1,282 to $1,990. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Reading.
Buying the median-priced home in Reading costs roughly 52.3 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 Reading. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Reading | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,249,970 | $494,523 | $248,835 |
| Median Household Income | $163,864 | $104,336 | $80,455 |
| Price-to-Income Ratio | 7.6 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Reading rose about 227.4%, while median household income rose about 53.5% 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 | Reading | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 80.7% | 57.5% | 58.5% |
| Rental Rate | 17.2% | 34.4% | 31.2% |
| Vacancy Rate | 2.1% | 8.1% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Reading has a homeownership rate of 80.7%, higher than the Massachusetts average of 57.5%. Its housing vacancy rate is 2.1%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Reading | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1961 | 1963 | 1978 |
| Median Number of Rooms | 6.9 | 5.5 | 5.5 |
The typical housing unit in Reading was built around 1961. On average, 2.6 people live in a home with about 6.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Reading, Massachusetts.
What is the median home price in Reading, Massachusetts?
The median home price in Reading, Massachusetts is $1,249,970, higher than the Massachusetts average of $494,523.
What is the average home price in Reading, Massachusetts?
The typical home price in Reading, Massachusetts, reported as the median sale price, is $1,249,970. 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 Reading, Massachusetts?
The median gross rent in Reading, Massachusetts is $1,990 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Reading in 2020?
In 2020, the median gross rent in Reading, Massachusetts was $1,362 per month.
What is the price-to-rent ratio in Reading, Massachusetts?
The price-to-rent ratio in Reading, Massachusetts is about 52.3, meaning it would take roughly 52.3 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 Reading.
Are home prices or rent rising faster in Reading, Massachusetts?
Both home prices and rent are rising in Reading, up about 21.1% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Reading, Massachusetts?
80.7% of households in Reading, Massachusetts own their home, higher than the Massachusetts average of 57.5%.
What is the vacancy rate in Reading, Massachusetts?
The housing vacancy rate in Reading, Massachusetts is 2.1%, lower than the Massachusetts average of 8.1%.
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