Somerville, Massachusetts Housing Market Prices
Somerville 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 10% above the Massachusetts median$545,588
-
Median rent 43% above the Massachusetts median$2,519
Housing Market Overview
| Metric | Somerville | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $545,588 | $494,523 | $248,835 |
| Price Trend (Annual %) | -0.6% | 6.6% | 7.5% |
| Median Gross Rent | $2,519 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Somerville is about 10% higher than in Massachusetts. Rent is about 43% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Somerville: home prices fell about 0.6% a year while rent rose about 5.9% a year. That is an unusual pattern worth watching.
Median rent in Somerville rose about 65.6% between 2015 and 2024, from $1,521 to $2,519. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Somerville.
Buying the median-priced home in Somerville costs roughly 18.0 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 Somerville. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Somerville | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $545,588 | $494,523 | $248,835 |
| Median Household Income | $132,942 | $104,336 | $80,455 |
| Price-to-Income Ratio | 4.1 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Somerville rose about 92.0%, while median household income rose about 97.5% 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 | Somerville | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 32.4% | 57.5% | 58.5% |
| Rental Rate | 62.2% | 34.4% | 31.2% |
| Vacancy Rate | 5.4% | 8.1% | 10.2% |
| Median Tenure (years) | 9.0 | 16.0 | 15.0 |
| Median Year Moved In | 2017 | 2010 | 2011 |
Somerville has a homeownership rate of 32.4%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 5.4%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Somerville | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1947 | 1963 | 1978 |
| Median Number of Rooms | 4.6 | 5.5 | 5.5 |
The typical housing unit in Somerville was built around 1947. On average, 2.2 people live in a home with about 4.6 rooms, staying for about 9.0 years on average.
Somerville, MA Housing Compared With Nearby Cities
Somerville, MA is the 2nd largest of the 6 cities compared here, 81,027 residents against a local median of 59,237. Where Somerville, MA breaks from the cities next to it is homeownership, sitting 17% below the local median of 41.3% at 34.2%. That is the weaker end of the local range on this measure.
The cities themselves spread 28.1% on homeownership, so Somerville, MA sits at one end of an already wide local range rather than apart from it. Somerville, MA has the 5th highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Somerville, MA | 81,027 | $545,588 #5/6 | $2,519 #2/6 | 34.2% #5/6 |
| Cambridge, MA | 117,266 | $678,104 | $2,785 | 33.5% |
| Medford, MA | 59,237 | $483,160 | $2,507 | 54.0% |
| Everett, MA | 49,993 | $624,999 | $2,076 | 37.2% |
| Malden, MA | 66,048 | $556,837 | $2,203 | 41.3% |
| Arlington, MA | 46,270 | $1,743,589 | $2,082 | 61.6% |
Frequently Asked Questions
Common questions about the housing market in Somerville, Massachusetts.
What is the median home price in Somerville, Massachusetts?
The median home price in Somerville, Massachusetts is $545,588, higher than the Massachusetts average of $494,523.
What is the average home price in Somerville, Massachusetts?
The typical home price in Somerville, Massachusetts, reported as the median sale price, is $545,588. 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 Somerville, Massachusetts?
The median gross rent in Somerville, Massachusetts is $2,519 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Somerville in 2020?
In 2020, the median gross rent in Somerville, Massachusetts was $2,027 per month.
What is the price-to-rent ratio in Somerville, Massachusetts?
The price-to-rent ratio in Somerville, Massachusetts is about 18.0, meaning it would take roughly 18.0 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 Somerville.
Are home prices or rent rising faster in Somerville, Massachusetts?
Home prices and rent are moving in opposite directions in Somerville: home prices fell about 0.6% a year while rent rose about 5.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Somerville, Massachusetts?
32.4% of households in Somerville, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Somerville, Massachusetts?
The housing vacancy rate in Somerville, Massachusetts is 5.4%, 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 →