Back Bay, Boston, MA02115

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$925,000
2.2% YoY Growth
Median Household Income
$53,400
43.0% 5-Year Growth
Days on Market
87
7.0% Longer than last year
Home Price Forecast
0.6%
Median Rent
$3,300
0.3% YoY Growth
1-Bed Rent
$3,100
5.7% YoY Growth
2-Bed Rent
$4,000
0.5% YoY Growth
3-Bed Rent
$5,000
0.2% YoY Growth

Other Zip Codes in Back Bay, Boston, MA

Property Listings — Back Bay, Boston, MA

As of Oct '25, Realtor.com reports that the median days on market for a home in Back Bay, Boston, MA is 87. This is a increase of 7.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$1,600,000-52.0%
Listing Count
7119.0%
Listings as % of Homes0.4%19.0%
Days on Market
877.0%
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Demographics — Back Bay, Boston, MA

As of the latest ACS Survey released in 2023, Back Bay, Boston, MA has a population of 28,600, which has decreased by -1.7% over the past 5 years. Back Bay, Boston, MA is a less popular place for families, as children make up 6.2% of the population. The area has a highly educated workforce, with 67.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.1% reporting working from home.

MetricLatest CensusYoY % Change
Population
28,600-1.7%
% Under 18
6.2%24.0%
% Seniors
9.5%25.0%
% WFH
17.1%402.9%
% w/ College Degree
67.2%6.8%
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As of the latest ACS Survey released in 2023, Back Bay, Boston, MA is a predominantly white area, with 53.0% of the population identifying as white. The white population has shrunk by 9.1% in the last 5 years. The second most common race or ethnicity in Back Bay, Boston, MA is asian, making up 19.6% of the population. Foreign-born residents account for 25.7% of the population in Back Bay, Boston, 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

MetricLatest Census5-Year % Change
% White
53.0%-9.1%
% Black
8.2%-9.9%
% Hispanic
15.0%-0.7%
% Asian
19.6%24.1%
% Foreign Born
25.7%1.2%
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Mortgage and Risk — Back Bay, Boston, MA

According to HUD data as of 2023, there were 86 mortgage originations in Back Bay, Boston, MA, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Back Bay, Boston, MA. Investor activity is low, as 10.0% of loans were by investors. 1.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

MetricZip Code Average
Total Loan Originations
86
% Conventional Loans
100.0%
% Government Loans
0.0%
% Investor Loans
10.0%
% Second Loans
14.0%
% Cash Out Refinance
1.0%

Loan Activity

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Rentals and Section 8 — Back Bay, Boston, MA

As of 2024, the percent of homes in Back Bay, Boston, MA under the Section 8 program is 28.0%. 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. In Back Bay, Boston, 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
2,457
Total Units Section 8
2,349
% Rentals under Section 8
28.0%
% Occupied Section 8
97.9%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom-$500$3,100$2,600
2 Bedroom-$920$4,000$3,080
3 Bedroom-$1,290$5,000$3,710
4 Bedroom-$1,720$5,800$4,080

Affordability — Back Bay, Boston, MA

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio17.3
Median Home Price$925,000
Median Household Income$53,400

Back Bay, Boston, MA — ZIP Code Boundary Map

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Frequently Asked Questions