Back Bay, Boston, MA—02116
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Back Bay, Boston, MA
As of Oct '25, the median home price in Back Bay, Boston, MA is $1,317,000, with a year-over-year change of 0.2%. This indicates that home prices in Back Bay, Boston, MA are flat. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,317,000 | 0.2% |
| Single Family | $1,680,000 | -2.9% |
| Condos | $1,277,000 | 0.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $815,000 | 0.0% |
2 Bed | $1,631,000 | 0.5% |
3 Bed | $3,156,000 | -0.5% |
4 Bed | $4,710,000 | 0.5% |
| 5 Bed | $5,763,000 | 0.3% |
% of Housing Stock
Rental Trends — Back Bay, Boston, MA
As of July '25, Rentcast reports the average rent in Back Bay, Boston, MA is $3,960, with a year-over-year rent change of -9.0%. Per bedroom, the median rent as of July '25 in Back Bay, Boston, MA is studios: $2,920, 1-bedrooms: $3,710, 2-bedrooms: $5,480, 3-bedrooms: $6,490, 4-bedrooms: $8,650. The most common rental property sizes in Back Bay, Boston, MA are 1-bedroom and 2-bedroom, accounting for 44.9% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $3,960 |
| Studio Rent | $2,600 | $2,920 |
| 1 Bed Rent | $3,500 | $3,710 |
| 2 Bed Rent | $5,200 | $5,480 |
| 3 Bed Rent | $6,500 | $6,490 |
| 4 Bed Rent | $8,500 | $8,650 |
% of Rental Stock
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 52. 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $2,110,000 | -12.0% |
Listing Count | 151 | -7.0% |
| Listings as % of Homes | 0.6% | -7.0% |
Days on Market | 52 | 3.0% |
Demographics — Back Bay, Boston, MA
As of the latest ACS Survey released in 2023, Back Bay, Boston, MA has a population of 22,000, which has decreased by -4.7% over the past 5 years. Back Bay, Boston, MA is a less popular place for families, as children make up 7.7% of the population. The area has a highly educated workforce, with 76.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,000 | -4.7% |
% Under 18 | 7.7% | 16.7% |
% Seniors | 16.6% | -0.6% |
% WFH | 26.4% | 594.7% |
% w/ College Degree | 76.9% | 1.5% |
As of the latest ACS Survey released in 2023, Back Bay, Boston, MA is a predominantly white area, with 65.2% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Back Bay, Boston, MA is asian, making up 15.5% of the population. Foreign-born residents account for 22.1% of the population in Back Bay, Boston, MA, and this percentage has increased by 2.8% 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 | 65.2% | -5.5% |
% Black | 5.2% | -11.9% |
% Hispanic | 8.4% | 10.5% |
% Asian | 15.5% | 7.6% |
% Foreign Born | 22.1% | 2.8% |
Mortgage and Risk — Back Bay, Boston, MA
According to HUD data as of 2023, there were 235 mortgage originations in Back Bay, Boston, MA, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Back Bay, Boston, MA. Investor activity is low, as 3.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 235 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 3.0% |
% Second Loans | 10.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
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 18.7%. 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 | 1,656 |
Total Units Section 8 | 1,423 |
% Rentals under Section 8 | 18.7% |
% Occupied Section 8 | 92.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $0 | $3,500 | $3,500 |
| 2 Bedroom | -$1,050 | $5,200 | $4,150 |
| 3 Bedroom | -$1,500 | $6,500 | $5,000 |
| 4 Bedroom | -$3,000 | $8,500 | $5,500 |
Affordability — Back Bay, Boston, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10.4 |
| Median Home Price | $1,317,000 |
| Median Household Income | $127,000 |