New Bedford, MA—02744
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Bedford, MA
As of Oct '25, the median home price in New Bedford, MA is $437,000, with a year-over-year change of 1.4%. This indicates that home prices in New Bedford, MA are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $437,000 | 1.4% |
| Single Family | $440,000 | 1.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $393,000 | 2.1% |
3 Bed | $440,000 | 1.1% |
4 Bed | $460,000 | 0.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Bedford, MA
As of July '25, Rentcast reports the average rent in New Bedford, MA is $1,260, with a year-over-year rent change of -28.4%. Per bedroom, the median rent as of July '25 in New Bedford, MA is 1-bedrooms: $785, 2-bedrooms: $1,670, 3-bedrooms: $1,910, 4-bedrooms: $2,230. The most common rental property sizes in New Bedford, MA are 3-bedroom and 2-bedroom, accounting for 42.8% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,260 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $600 | $785 |
| 2 Bed Rent | $1,500 | $1,670 |
| 3 Bed Rent | $2,000 | $1,910 |
| 4 Bed Rent | $2,300 | $2,230 |
% of Rental Stock
Property Listings — New Bedford, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in New Bedford, MA is 53. This is a decrease of -44.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $500,000 | 32.0% |
Listing Count | 5 | -52.0% |
| Listings as % of Homes | 0.1% | -52.0% |
Days on Market | 53 | -44.0% |
Demographics — New Bedford, MA
As of the latest ACS Survey released in 2023, New Bedford, MA has a population of 12,500, which has increased by 13.7% over the past 5 years. New Bedford, MA is a popular place for families, as children make up 27.9% of the population. The area has a poorly educated workforce, with 13.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,500 | 13.7% |
% Under 18 | 27.9% | 21.8% |
% Seniors | 13.6% | -2.2% |
% WFH | 2.1% | 23.5% |
% w/ College Degree | 13.4% | 0.0% |
As of the latest ACS Survey released in 2023, New Bedford, MA is a predominantly white area, with 56.7% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in New Bedford, MA is hispanic, making up 26.6% of the population. Foreign-born residents account for 23.9% of the population in New Bedford, MA, and this percentage has decreased by 11.5% 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 | 56.7% | -4.2% |
% Black | 4.5% | -40.0% |
% Hispanic | 26.6% | 2.7% |
% Asian | 0.8% | 166.7% |
% Foreign Born | 23.9% | -11.5% |
Mortgage and Risk — New Bedford, MA
According to HUD data as of 2023, there were 101 mortgage originations in New Bedford, MA, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in New Bedford, MA. Investor activity is low, as 8.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 101 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 8.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — New Bedford, MA
As of 2024, the percent of homes in New Bedford, MA under the Section 8 program is 9.7%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in New Bedford, MA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 396 |
Total Units Section 8 | 325 |
% Rentals under Section 8 | 9.7% |
% Occupied Section 8 | 93.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $550 | $600 | $1,150 |
| 2 Bedroom | -$90 | $1,500 | $1,410 |
| 3 Bedroom | -$300 | $2,000 | $1,700 |
| 4 Bedroom | -$270 | $2,300 | $2,030 |
Affordability — New Bedford, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $437,000 |
| Median Household Income | $54,800 |