Somerville, MA—02145
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Somerville, MA
As of Oct '25, the median home price in Somerville, MA is $824,000, with a year-over-year change of 1.4%. This indicates that home prices in Somerville, MA are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $824,000 | 1.4% |
| Single Family | $968,000 | 2.1% |
| Condos | $719,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $538,000 | 1.5% |
2 Bed | $719,000 | 1.1% |
3 Bed | $940,000 | 1.2% |
4 Bed | $1,037,000 | 1.0% |
| 5 Bed | $1,208,000 | 4.8% |
% of Housing Stock
Rental Trends — Somerville, MA
As of July '25, Rentcast reports the average rent in Somerville, MA is $3,470, with a year-over-year rent change of 1.2%. Per bedroom, the median rent as of July '25 in Somerville, MA is studios: $2,620, 1-bedrooms: $3,010, 2-bedrooms: $3,700, 3-bedrooms: $3,880, 4-bedrooms: $4,030. The most common rental property sizes in Somerville, MA are 2-bedroom and 1-bedroom, accounting for 37.5% and 28.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,300 | $3,470 |
| Studio Rent | $2,620 | $2,620 |
| 1 Bed Rent | $3,000 | $3,010 |
| 2 Bed Rent | $3,500 | $3,700 |
| 3 Bed Rent | $3,580 | $3,880 |
| 4 Bed Rent | $4,300 | $4,030 |
% of Rental Stock
Property Listings — Somerville, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Somerville, MA is 39. This is a decrease of -3.0% from last year, suggesting that homes are sitting on the market shorter 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 | $899,000 | -2.0% |
Listing Count | 44 | 15.0% |
| Listings as % of Homes | 0.3% | 15.0% |
Days on Market | 39 | -3.0% |
Demographics — Somerville, MA
As of the latest ACS Survey released in 2023, Somerville, MA has a population of 27,900, which has increased by 3.9% over the past 5 years. Somerville, MA is a less popular place for families, as children make up 12.0% of the population. The area has a highly educated workforce, with 55.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,900 | 3.9% |
% Under 18 | 12.0% | -25.0% |
% Seniors | 10.1% | 8.6% |
% WFH | 25.1% | 470.5% |
% w/ College Degree | 55.3% | 23.2% |
As of the latest ACS Survey released in 2023, Somerville, MA is a predominantly white area, with 58.2% of the population identifying as white. The white population has shrunk by 0.9% in the last 5 years. The second most common race or ethnicity in Somerville, MA is hispanic, making up 17.5% of the population. Foreign-born residents account for 33.0% of the population in Somerville, MA, and this percentage has decreased by 6.5% 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 | 58.2% | -0.9% |
% Black | 6.2% | -46.6% |
% Hispanic | 17.5% | -1.7% |
% Asian | 11.5% | 17.3% |
% Foreign Born | 33.0% | -6.5% |
Mortgage and Risk — Somerville, MA
According to HUD data as of 2023, there were 246 mortgage originations in Somerville, MA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Somerville, MA. Investor activity is low, as 6.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 246 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Somerville, MA
As of 2024, the percent of homes in Somerville, MA under the Section 8 program is 8.4%. 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 units appear to be good home sizes to consider for Section 8 housing in Somerville, MA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 911 |
Total Units Section 8 | 655 |
% Rentals under Section 8 | 8.4% |
% Occupied Section 8 | 92.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$310 | $3,000 | $2,690 |
| 2 Bedroom | -$310 | $3,500 | $3,190 |
| 3 Bedroom | $260 | $3,580 | $3,840 |
| 4 Bedroom | -$70 | $4,300 | $4,230 |
Affordability — Somerville, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.3 |
| Median Home Price | $824,000 |
| Median Household Income | $119,000 |