Worcester, MA—01603
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 $391,000, with a year-over-year change of 0.8%. 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 | $391,000 | 0.8% |
| Single Family | $402,000 | 0.5% |
| Condos | $291,000 | 3.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $254,000 | 6.3% |
2 Bed | $340,000 | 1.2% |
3 Bed | $409,000 | 0.5% |
4 Bed | $435,000 | 1.6% |
| 5 Bed | $516,000 | 1.8% |
% of Housing Stock
Rental Trends — Worcester, MA
As of July '25, Rentcast reports the average rent in Worcester, MA is $2,280, with a year-over-year rent change of 7.5%. Per bedroom, the median rent as of July '25 in Worcester, MA is 1-bedrooms: $1,530, 2-bedrooms: $2,140, 3-bedrooms: $2,310, 4-bedrooms: $3,420. The most common rental property sizes in Worcester, MA are 2-bedroom and 3-bedroom, accounting for 38.1% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,520 | $1,530 |
| 2 Bed Rent | $2,100 | $2,140 |
| 3 Bed Rent | $2,200 | $2,310 |
| 4 Bed Rent | $3,000 | $3,420 |
% 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 36. This is a increase of 102.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $386,000 | 2.0% |
Listing Count | 24 | 81.0% |
| Listings as % of Homes | 0.0% | 81.0% |
Days on Market | 36 | 102.0% |
Demographics — Worcester, MA
As of the latest ACS Survey released in 2023, Worcester, MA has a population of 21,000, which has increased by 8.8% over the past 5 years. Worcester, MA is a moderately popular place for families, as children make up 18.3% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,000 | 8.8% |
% Under 18 | 18.3% | -16.1% |
% Seniors | 12.4% | -12.1% |
% WFH | 7.0% | 125.8% |
% w/ College Degree | 24.2% | 30.8% |
As of the latest ACS Survey released in 2023, Worcester, MA is a predominantly white area, with 45.3% of the population identifying as white. The white population has shrunk by 14.0% in the last 5 years. The second most common race or ethnicity in Worcester, MA is hispanic, making up 27.4% of the population. Foreign-born residents account for 24.6% of the population in Worcester, MA, and this percentage has increased by 1.2% 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 | 45.3% | -14.0% |
% Black | 12.1% | -2.4% |
% Hispanic | 27.4% | 25.1% |
% Asian | 11.7% | 0.0% |
% Foreign Born | 24.6% | 1.2% |
Mortgage and Risk — Worcester, MA
According to HUD data as of 2023, there were 295 mortgage originations in Worcester, MA, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 31.0% 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 | 295 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% 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 12.7%. 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 Worcester, 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 | 1,182 |
Total Units Section 8 | 543 |
% Rentals under Section 8 | 12.7% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$170 | $1,520 | $1,350 |
| 2 Bedroom | -$360 | $2,100 | $1,740 |
| 3 Bedroom | -$70 | $2,200 | $2,130 |
| 4 Bedroom | -$660 | $3,000 | $2,340 |
Affordability — Worcester, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $391,000 |
| Median Household Income | $63,600 |