Worcester, MA—01606
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 $435,000, with a year-over-year change of 0.2%. This indicates that home prices in Worcester, MA are flat. 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 | $435,000 | 0.2% |
| Single Family | $440,000 | 0.0% |
| Condos | $356,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $270,000 | -1.1% |
2 Bed | $380,000 | -0.5% |
3 Bed | $446,000 | 0.2% |
4 Bed | $496,000 | 0.0% |
| 5 Bed | $538,000 | -0.2% |
% of Housing Stock
Rental Trends — Worcester, MA
As of July '25, Rentcast reports the average rent in Worcester, MA is $2,450, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Worcester, MA is studios: $1,680, 1-bedrooms: $1,740, 2-bedrooms: $2,220, 3-bedrooms: $2,780. The most common rental property sizes in Worcester, MA are 2-bedroom and 3-bedroom, accounting for 44.8% and 27.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,450 |
| Studio Rent | $1,680 | $1,680 |
| 1 Bed Rent | $1,880 | $1,740 |
| 2 Bed Rent | $2,150 | $2,220 |
| 3 Bed Rent | $2,860 | $2,780 |
| 4 Bed Rent | N/A | N/A |
% 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 28. This is a increase of 131.0% 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 49.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $465,000 | 9.0% |
Listing Count | 41 | 30.0% |
| Listings as % of Homes | 0.1% | 30.0% |
Days on Market | 28 | 131.0% |
Demographics — Worcester, MA
As of the latest ACS Survey released in 2023, Worcester, MA has a population of 22,300, which has increased by 12.9% over the past 5 years. Worcester, MA is a moderately popular place for families, as children make up 19.2% of the population. The area has a moderately educated workforce, with 42.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,300 | 12.9% |
% Under 18 | 19.2% | -2.0% |
% Seniors | 14.4% | -5.3% |
% WFH | 9.9% | 200.0% |
% w/ College Degree | 42.3% | 14.0% |
As of the latest ACS Survey released in 2023, Worcester, MA is a predominantly white area, with 63.5% of the population identifying as white. The white population has shrunk by 13.0% in the last 5 years. The second most common race or ethnicity in Worcester, MA is hispanic, making up 14.0% of the population. Foreign-born residents account for 14.2% of the population in Worcester, MA, and this percentage has decreased by 5.3% 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 | 63.5% | -13.0% |
% Black | 9.9% | -13.2% |
% Hispanic | 14.0% | 52.2% |
% Asian | 5.5% | -1.8% |
% Foreign Born | 14.2% | -5.3% |
Mortgage and Risk — Worcester, MA
According to HUD data as of 2023, there were 352 mortgage originations in Worcester, MA, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 32.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 352 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Worcester, MA
Worcester, MA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 359 |
Total Units Section 8 | 359 |
% Rentals under Section 8 | 12.9% |
% Occupied Section 8 | 94.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$350 | $1,880 | $1,530 |
| 2 Bedroom | -$180 | $2,150 | $1,970 |
| 3 Bedroom | -$450 | $2,860 | $2,410 |
| 4 Bedroom | N/A | N/A | $2,650 |
Affordability — Worcester, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $435,000 |
| Median Household Income | $92,500 |