Worcester, MA—01604
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 $416,000, with a year-over-year change of 1.0%. This indicates that home prices in Worcester, 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 | $416,000 | 1.0% |
| Single Family | $437,000 | 0.9% |
| Condos | $314,000 | 2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $291,000 | 0.7% |
2 Bed | $347,000 | 1.8% |
3 Bed | $443,000 | 1.1% |
4 Bed | $495,000 | 0.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Worcester, MA
As of July '25, Rentcast reports the average rent in Worcester, MA is $2,400, with a year-over-year rent change of 6.7%. Per bedroom, the median rent as of July '25 in Worcester, MA is studios: $1,900, 1-bedrooms: $1,910, 2-bedrooms: $2,260, 3-bedrooms: $2,620, 4-bedrooms: $2,840. The most common rental property sizes in Worcester, MA are 2-bedroom and 3-bedroom, accounting for 37.4% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,290 | $2,400 |
| Studio Rent | $1,700 | $1,900 |
| 1 Bed Rent | $1,850 | $1,910 |
| 2 Bed Rent | $2,150 | $2,260 |
| 3 Bed Rent | $2,350 | $2,620 |
| 4 Bed Rent | $2,500 | $2,840 |
% 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 31. This is a increase of 3.0% 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 45.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $436,000 | -7.0% |
Listing Count | 53 | 37.0% |
| Listings as % of Homes | 0.1% | 37.0% |
Days on Market | 31 | 3.0% |
Demographics — Worcester, MA
As of the latest ACS Survey released in 2023, Worcester, MA has a population of 40,000, which has increased by 6.7% over the past 5 years. Worcester, MA is a moderately popular place for families, as children make up 18.8% of the population. The area has a moderately educated workforce, with 31.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,000 | 6.7% |
% Under 18 | 18.8% | -14.5% |
% Seniors | 14.8% | 23.3% |
% WFH | 11.5% | 228.6% |
% w/ College Degree | 31.2% | 7.6% |
As of the latest ACS Survey released in 2023, Worcester, MA is a predominantly white area, with 51.5% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Worcester, MA is hispanic, making up 19.1% of the population. Foreign-born residents account for 26.9% of the population in Worcester, MA, and this percentage has increased by 19.0% 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 | 51.5% | -4.8% |
% Black | 13.8% | 0.7% |
% Hispanic | 19.1% | -7.7% |
% Asian | 7.2% | -19.1% |
% Foreign Born | 26.9% | 19.0% |
Mortgage and Risk — Worcester, MA
According to HUD data as of 2023, there were 508 mortgage originations in Worcester, MA, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Worcester, MA. Investor activity is low, as 6.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 508 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Worcester, MA
As of 2024, the percent of homes in Worcester, MA under the Section 8 program is 11.2%. 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. 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 | 1,333 |
Total Units Section 8 | 1,084 |
% Rentals under Section 8 | 11.2% |
% Occupied Section 8 | 95.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$290 | $1,850 | $1,560 |
| 2 Bedroom | -$140 | $2,150 | $2,010 |
| 3 Bedroom | $110 | $2,350 | $2,460 |
| 4 Bedroom | $200 | $2,500 | $2,700 |
Affordability — Worcester, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $416,000 |
| Median Household Income | $72,900 |