Worcester, Massachusetts Housing Market Prices
Worcester 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 45% below the Massachusetts median$269,967
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Median rent 16% below the Massachusetts median$1,486
Housing Market Overview
| Metric | Worcester | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $269,967 | $494,523 | $248,835 |
| Price Trend (Annual %) | 6.5% | 6.6% | 7.5% |
| Median Gross Rent | $1,486 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Worcester is about 45% lower than in Massachusetts. Rent is about 16% 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 Worcester, up about 6.5% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Worcester rose about 57.4% between 2015 and 2024, from $944 to $1,486. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Worcester.
Buying the median-priced home in Worcester costs roughly 15.1 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 Worcester. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Worcester | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $269,967 | $494,523 | $248,835 |
| Median Household Income | $69,562 | $104,336 | $80,455 |
| Price-to-Income Ratio | 3.9 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Worcester rose about 66.3%, while median household income rose about 39.9% 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 | Worcester | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.6% | 57.5% | 58.5% |
| Rental Rate | 53.0% | 34.4% | 31.2% |
| Vacancy Rate | 7.4% | 8.1% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Worcester has a homeownership rate of 39.6%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 7.4%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Worcester | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1953 | 1963 | 1978 |
| Median Number of Rooms | 5.1 | 5.5 | 5.5 |
The typical housing unit in Worcester was built around 1953. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Worcester, Massachusetts.
What is the median home price in Worcester, Massachusetts?
The median home price in Worcester, Massachusetts is $269,967, lower than the Massachusetts average of $494,523.
What is the average home price in Worcester, Massachusetts?
The typical home price in Worcester, Massachusetts, reported as the median sale price, is $269,967. 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 Worcester, Massachusetts?
The median gross rent in Worcester, Massachusetts is $1,486 per month, lower than the Massachusetts average of $1,761.
What was the median gross rent in Worcester in 2020?
In 2020, the median gross rent in Worcester, Massachusetts was $1,115 per month.
What is the price-to-rent ratio in Worcester, Massachusetts?
The price-to-rent ratio in Worcester, Massachusetts is about 15.1, meaning it would take roughly 15.1 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 Worcester.
Are home prices or rent rising faster in Worcester, Massachusetts?
Both home prices and rent are rising in Worcester, up about 6.5% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Worcester, Massachusetts?
39.6% of households in Worcester, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Worcester, Massachusetts?
The housing vacancy rate in Worcester, Massachusetts is 7.4%, lower than the Massachusetts average of 8.1%.
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