Waltham, Massachusetts Housing Market Prices
Waltham 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 29% above the Massachusetts median$637,278
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Median rent 29% above the Massachusetts median$2,267
Housing Market Overview
| Metric | Waltham | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $637,278 | $494,523 | $248,835 |
| Price Trend (Annual %) | 5.8% | 6.6% | 7.5% |
| Median Gross Rent | $2,267 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Waltham is about 29% higher than in Massachusetts. Rent is about 29% 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 Waltham, up about 5.8% and 6.0% a year respectively. Rent is changing faster.
Median rent in Waltham rose about 63.8% between 2015 and 2024, from $1,385 to $2,267. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Waltham.
Buying the median-priced home in Waltham costs roughly 23.4 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 Waltham. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Waltham | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $637,278 | $494,523 | $248,835 |
| Median Household Income | $118,718 | $104,336 | $80,455 |
| Price-to-Income Ratio | 5.4 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Waltham rose about 54.6%, while median household income rose about 71.1% 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 | Waltham | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.4% | 57.5% | 58.5% |
| Rental Rate | 48.0% | 34.4% | 31.2% |
| Vacancy Rate | 4.6% | 8.1% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Waltham has a homeownership rate of 47.4%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 4.6%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Waltham | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1962 | 1963 | 1978 |
| Median Number of Rooms | 5.0 | 5.5 | 5.5 |
The typical housing unit in Waltham was built around 1962. On average, 2.2 people live in a home with about 5.0 rooms, staying for about 13.0 years on average.
Waltham, MA Housing Compared With Nearby Cities
How Waltham, MA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Waltham, MA | 64,842 | $637,278 #3/3 | $2,267 #3/3 | 49.7% #3/3 |
| Lexington, MA | 34,306 | $2,250,000 | $2,890 | 80.5% |
| Newton, MA | 88,909 | $1,092,024 | $2,369 | 70.0% |
Frequently Asked Questions
Common questions about the housing market in Waltham, Massachusetts.
What is the median home price in Waltham, Massachusetts?
The median home price in Waltham, Massachusetts is $637,278, higher than the Massachusetts average of $494,523.
What is the average home price in Waltham, Massachusetts?
The typical home price in Waltham, Massachusetts, reported as the median sale price, is $637,278. 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 Waltham, Massachusetts?
The median gross rent in Waltham, Massachusetts is $2,267 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Waltham in 2020?
In 2020, the median gross rent in Waltham, Massachusetts was $1,774 per month.
What is the price-to-rent ratio in Waltham, Massachusetts?
The price-to-rent ratio in Waltham, Massachusetts is about 23.4, meaning it would take roughly 23.4 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 Waltham.
Are home prices or rent rising faster in Waltham, Massachusetts?
Both home prices and rent are rising in Waltham, up about 5.8% and 6.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Waltham, Massachusetts?
47.4% of households in Waltham, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Waltham, Massachusetts?
The housing vacancy rate in Waltham, Massachusetts is 4.6%, lower than the Massachusetts average of 8.1%.
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