Worcester, MA—01605
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 $436,000, 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 | $436,000 | 1.0% |
| Single Family | $448,000 | 0.9% |
| Condos | $243,000 | 2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $223,000 | 8.3% |
2 Bed | $339,000 | 0.9% |
3 Bed | $442,000 | 0.9% |
4 Bed | $526,000 | 1.2% |
| 5 Bed | $588,000 | 1.6% |
% of Housing Stock
Rental Trends — Worcester, MA
As of July '25, Rentcast reports the average rent in Worcester, MA is $2,460, with a year-over-year rent change of 7.9%. Per bedroom, the median rent as of July '25 in Worcester, MA is 1-bedrooms: $2,330, 2-bedrooms: $2,560, 3-bedrooms: $2,510, 4-bedrooms: $2,740. The most common rental property sizes in Worcester, MA are 2-bedroom and 3-bedroom, accounting for 43.4% and 24.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,470 | $2,460 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,460 | $2,330 |
| 2 Bed Rent | $2,600 | $2,560 |
| 3 Bed Rent | $2,350 | $2,510 |
| 4 Bed Rent | $2,420 | $2,740 |
% 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 38. This is a increase of 68.0% 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 64.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $520,000 | 21.0% |
Listing Count | 28 | 55.0% |
| Listings as % of Homes | 0.1% | 55.0% |
Days on Market | 38 | 68.0% |
Demographics — Worcester, MA
As of the latest ACS Survey released in 2023, Worcester, MA has a population of 31,100, which has increased by 7.9% over the past 5 years. Worcester, MA is a popular place for families, as children make up 26.5% of the population. The area has a moderately educated workforce, with 32.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,100 | 7.9% |
% Under 18 | 26.5% | 5.6% |
% Seniors | 13.9% | 5.3% |
% WFH | 9.5% | 97.9% |
% w/ College Degree | 32.0% | 29.0% |
As of the latest ACS Survey released in 2023, Worcester, MA is a predominantly white area, with 43.9% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Worcester, MA is hispanic, making up 33.6% of the population. Foreign-born residents account for 22.8% of the population in Worcester, MA, and this percentage has increased by 13.4% 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 | 43.9% | -3.3% |
% Black | 13.7% | -20.3% |
% Hispanic | 33.6% | 15.5% |
% Asian | 4.6% | -27.0% |
% Foreign Born | 22.8% | 13.4% |
Mortgage and Risk — Worcester, MA
According to HUD data as of 2023, there were 191 mortgage originations in Worcester, MA, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% 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. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 191 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% 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 22.0%. 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. 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 and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,591 |
Total Units Section 8 | 1,813 |
% Rentals under Section 8 | 22.0% |
% Occupied Section 8 | 94.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$1,010 | $2,460 | $1,450 |
| 2 Bedroom | -$730 | $2,600 | $1,870 |
| 3 Bedroom | -$70 | $2,350 | $2,280 |
| 4 Bedroom | $90 | $2,420 | $2,510 |
Affordability — Worcester, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.9 |
| Median Home Price | $436,000 |
| Median Household Income | $54,800 |