Millbury, MA—01527
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Millbury, MA
As of Oct '25, the median home price in Millbury, MA is $494,000, with a year-over-year change of 3.2%. This indicates that home prices in Millbury, MA are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $494,000 | 3.2% |
| Single Family | $501,000 | 3.5% |
| Condos | $449,000 | 3.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $330,000 | 5.8% |
2 Bed | $421,000 | 2.9% |
3 Bed | $488,000 | 3.4% |
4 Bed | $638,000 | 3.7% |
| 5 Bed | $618,000 | 3.7% |
% of Housing Stock
Rental Trends — Millbury, MA
As of July '25, Rentcast reports the average rent in Millbury, MA is $2,610, with a year-over-year rent change of 13.5%. Per bedroom, the median rent as of July '25 in Millbury, MA is 1-bedrooms: $1,820, 2-bedrooms: $2,370, 3-bedrooms: $3,410, 4-bedrooms: $4,000. The most common rental property sizes in Millbury, MA are 2-bedroom and 1-bedroom, accounting for 47.3% and 28.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,610 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,820 |
| 2 Bed Rent | $2,400 | $2,370 |
| 3 Bed Rent | $3,500 | $3,410 |
| 4 Bed Rent | $4,000 | $4,000 |
% of Rental Stock
Property Listings — Millbury, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Millbury, MA is 22. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $637,000 | 11.0% |
Listing Count | 22 | -38.0% |
| Listings as % of Homes | 0.4% | -38.0% |
Days on Market | 22 | 0.0% |
Demographics — Millbury, MA
As of the latest ACS Survey released in 2023, Millbury, MA has a population of 13,900, which has increased by 2.0% over the past 5 years. Millbury, MA is a moderately popular place for families, as children make up 21.1% of the population. The area has a moderately educated workforce, with 33.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,900 | 2.0% |
% Under 18 | 21.1% | 3.9% |
% Seniors | 19.4% | 15.5% |
% WFH | 16.1% | 419.4% |
% w/ College Degree | 33.4% | 0.6% |
As of the latest ACS Survey released in 2023, Millbury, MA is a predominantly white area, with 82.5% of the population identifying as white. The white population has shrunk by 8.9% in the last 5 years. The second most common race or ethnicity in Millbury, MA is hispanic, making up 5.2% of the population. Foreign-born residents account for 8.8% of the population in Millbury, MA, and this percentage has increased by 8.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.5% | -8.9% |
% Black | 0.9% | -18.2% |
% Hispanic | 5.2% | 300.0% |
% Asian | 5.1% | 45.7% |
% Foreign Born | 8.8% | 8.6% |
Mortgage and Risk — Millbury, MA
According to HUD data as of 2023, there were 291 mortgage originations in Millbury, MA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Millbury, MA. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 291 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Millbury, MA
As of 2024, the percent of homes in Millbury, MA under the Section 8 program is 2.5%. 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 Millbury, 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 | 33 |
Total Units Section 8 | 33 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$140 | $1,600 | $1,460 |
| 2 Bedroom | -$520 | $2,400 | $1,880 |
| 3 Bedroom | -$1,200 | $3,500 | $2,300 |
| 4 Bedroom | -$1,470 | $4,000 | $2,530 |
Affordability — Millbury, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $494,000 |
| Median Household Income | $116,000 |