Leicester, MA—01524
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Leicester, MA
As of Oct '25, the median home price in Leicester, MA is $451,000, with a year-over-year change of 1.7%. This indicates that home prices in Leicester, MA are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $451,000 | 1.7% |
| Single Family | $456,000 | 1.3% |
| Condos | $362,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $389,000 | 0.3% |
3 Bed | $455,000 | 1.6% |
4 Bed | $538,000 | 2.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Leicester, MA
As of July '25, Rentcast reports the average rent in Leicester, MA is $2,420, with a year-over-year rent change of 29.4%. Per bedroom, the median rent as of July '25 in Leicester, MA is 1-bedrooms: $1,550, 2-bedrooms: $2,560, 3-bedrooms: $2,900, 4-bedrooms: $2,500. The most common rental property sizes in Leicester, MA are 1-bedroom and 3-bedroom, accounting for 59.4% and 21.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,420 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,550 | $1,550 |
| 2 Bed Rent | $2,450 | $2,560 |
| 3 Bed Rent | $2,900 | $2,900 |
| 4 Bed Rent | $2,500 | $2,500 |
% of Rental Stock
Property Listings — Leicester, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Leicester, MA is 50. This is a increase of 28.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $433,000 | -27.0% |
Listing Count | 11 | -25.0% |
| Listings as % of Homes | 0.3% | -25.0% |
Days on Market | 50 | 28.0% |
Demographics — Leicester, MA
As of the latest ACS Survey released in 2023, Leicester, MA has a population of 6,110, which has decreased by -11.5% over the past 5 years. Leicester, MA is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 30.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,110 | -11.5% |
% Under 18 | 21.6% | 39.4% |
% Seniors | 14.9% | -5.1% |
% WFH | 9.4% | 123.8% |
% w/ College Degree | 30.7% | 4.4% |
As of the latest ACS Survey released in 2023, Leicester, MA is a predominantly white area, with 86.0% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Leicester, MA is black, making up 6.1% of the population. Foreign-born residents account for 6.0% of the population in Leicester, MA, and this percentage has decreased by 7.7% 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 | 86.0% | -6.6% |
% Black | 6.1% | 177.3% |
% Hispanic | 4.6% | 27.8% |
% Asian | 0.4% | -33.3% |
% Foreign Born | 6.0% | -7.7% |
Mortgage and Risk — Leicester, MA
According to HUD data as of 2023, there were 129 mortgage originations in Leicester, MA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Leicester, MA. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 129 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Leicester, MA
As of 2024, the percent of homes in Leicester, MA under the Section 8 program is 5.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Leicester, MA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$380 | $1,550 | $1,170 |
| 2 Bedroom | -$950 | $2,450 | $1,500 |
| 3 Bedroom | -$1,090 | $2,900 | $1,810 |
| 4 Bedroom | -$500 | $2,500 | $2,000 |
Affordability — Leicester, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $451,000 |
| Median Household Income | $93,200 |