Lee, MA—01238
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lee, MA
As of Oct '25, the median home price in Lee, MA is $420,000, with a year-over-year change of 3.3%. This indicates that home prices in Lee, MA are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $420,000 | 3.3% |
| Single Family | $416,000 | 2.5% |
| Condos | $506,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $337,000 | 1.5% |
3 Bed | $400,000 | 2.6% |
4 Bed | $528,000 | 3.3% |
| 5 Bed | $717,000 | 2.3% |
% of Housing Stock
Rental Trends — Lee, MA
As of July '25, Rentcast reports the average rent in Lee, MA is $2,250, with a year-over-year rent change of -15.4%. Per bedroom, the median rent as of July '25 in Lee, MA is 1-bedrooms: $1,630, 2-bedrooms: $2,500, 3-bedrooms: $2,920. The most common rental property sizes in Lee, MA are 1-bedroom and 3-bedroom, accounting for 40.2% and 24.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,550 | $1,630 |
| 2 Bed Rent | $2,500 | $2,500 |
| 3 Bed Rent | $2,600 | $2,920 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lee, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lee, MA is 86. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $687,000 | 8.0% |
Listing Count | 28 | 18.0% |
| Listings as % of Homes | 0.7% | 18.0% |
Days on Market | 86 | 9.0% |
Demographics — Lee, MA
As of the latest ACS Survey released in 2023, Lee, MA has a population of 5,890, which has remained stable by -0.2% over the past 5 years. Lee, MA is a moderately popular place for families, as children make up 15.4% of the population. The area has a highly educated workforce, with 45.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,890 | -0.2% |
% Under 18 | 15.4% | -19.8% |
% Seniors | 33.3% | 38.8% |
% WFH | 18.1% | 269.4% |
% w/ College Degree | 45.5% | 42.6% |
As of the latest ACS Survey released in 2023, Lee, MA is a predominantly white area, with 90.7% of the population identifying as white. The white population has grown by 1.3% in the last 5 years. The second most common race or ethnicity in Lee, MA is hispanic, making up 3.0% of the population. Foreign-born residents account for 6.6% of the population in Lee, MA, and this percentage has decreased by 49.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.7% | 1.3% |
% Black | 0.0% | -100.0% |
% Hispanic | 3.0% | 66.7% |
% Asian | 1.8% | -45.5% |
% Foreign Born | 6.6% | -49.6% |
Mortgage and Risk — Lee, MA
According to HUD data as of 2023, there were 100 mortgage originations in Lee, MA, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Lee, MA. Investor activity is low, as 3.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 100 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 3.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Lee, MA
Lee, MA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 109 |
Total Units Section 8 | 58 |
% Rentals under Section 8 | 10.2% |
% Occupied Section 8 | 92.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $1,550 | $1,450 |
| 2 Bedroom | -$660 | $2,500 | $1,840 |
| 3 Bedroom | -$240 | $2,600 | $2,360 |
| 4 Bedroom | N/A | N/A | $2,560 |
Affordability — Lee, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $420,000 |
| Median Household Income | $74,500 |