Worcester, MA—01602
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Worcester, MA
As of Oct '25, the median home price in Worcester, MA is $445,000, with a year-over-year change of 1.0%. This indicates that home prices in Worcester, MA are flat. 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 | $445,000 | 1.0% |
| Single Family | $454,000 | 0.9% |
| Condos | $321,000 | 1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $363,000 | 0.6% |
3 Bed | $444,000 | 0.9% |
4 Bed | $510,000 | 0.6% |
| 5 Bed | $615,000 | 1.2% |
% of Housing Stock
Rental Trends — Worcester, MA
As of July '25, Rentcast reports the average rent in Worcester, MA is $2,380, with a year-over-year rent change of 1.7%. Per bedroom, the median rent as of July '25 in Worcester, MA is 1-bedrooms: $1,760, 2-bedrooms: $2,280, 3-bedrooms: $2,430, 4-bedrooms: $2,800. The most common rental property sizes in Worcester, MA are 2-bedroom and 1-bedroom, accounting for 40.3% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,760 |
| 2 Bed Rent | $2,300 | $2,280 |
| 3 Bed Rent | $2,400 | $2,430 |
| 4 Bed Rent | $2,400 | $2,800 |
% of Rental Stock
Property Listings — Worcester, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Worcester, MA is 49. This is a increase of 10.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $527,000 | 4.0% |
Listing Count | 52 | 48.0% |
| Listings as % of Homes | 0.1% | 48.0% |
Days on Market | 49 | 10.0% |
Demographics — Worcester, MA
As of the latest ACS Survey released in 2023, Worcester, MA has a population of 25,800, which has increased by 8.1% over the past 5 years. Worcester, MA is a moderately popular place for families, as children make up 19.6% of the population. The area has a highly educated workforce, with 47.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,800 | 8.1% |
% Under 18 | 19.6% | 18.1% |
% Seniors | 16.1% | -2.4% |
% WFH | 15.6% | 147.6% |
% w/ College Degree | 47.4% | 3.3% |
As of the latest ACS Survey released in 2023, Worcester, MA is a predominantly white area, with 65.7% of the population identifying as white. The white population has shrunk by 9.6% in the last 5 years. The second most common race or ethnicity in Worcester, MA is hispanic, making up 14.7% of the population. Foreign-born residents account for 19.0% of the population in Worcester, MA, and this percentage has decreased by 5.5% 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 | 65.7% | -9.6% |
% Black | 9.9% | 30.3% |
% Hispanic | 14.7% | 25.6% |
% Asian | 5.9% | 1.7% |
% Foreign Born | 19.0% | -5.5% |
Mortgage and Risk — Worcester, MA
According to HUD data as of 2023, there were 317 mortgage originations in Worcester, MA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Worcester, MA. Investor activity is low, as 3.0% 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 | 317 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Worcester, MA
As of 2024, the percent of homes in Worcester, MA under the Section 8 program is 20.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Worcester, MA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 914 |
Total Units Section 8 | 816 |
% Rentals under Section 8 | 20.6% |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,600 | $1,590 |
| 2 Bedroom | -$250 | $2,300 | $2,050 |
| 3 Bedroom | $100 | $2,400 | $2,500 |
| 4 Bedroom | $360 | $2,400 | $2,760 |
Affordability — Worcester, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $445,000 |
| Median Household Income | $94,400 |