Northborough, MA—01532
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northborough, MA
As of Oct '25, the median home price in Northborough, MA is $682,000, with a year-over-year change of 1.5%. This indicates that home prices in Northborough, MA are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $682,000 | 1.5% |
| Single Family | $711,000 | 1.1% |
| Condos | $498,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $483,000 | 1.7% |
3 Bed | $628,000 | 1.5% |
4 Bed | $861,000 | 1.9% |
| 5 Bed | $948,000 | 2.3% |
% of Housing Stock
Rental Trends — Northborough, MA
As of July '25, Rentcast reports the average rent in Northborough, MA is $3,240, with a year-over-year rent change of -9.0%. Per bedroom, the median rent as of July '25 in Northborough, MA is 1-bedrooms: $2,430, 2-bedrooms: $3,350, 3-bedrooms: $3,630, 4-bedrooms: $4,600. The most common rental property sizes in Northborough, MA are 2-bedroom and 1-bedroom, accounting for 50.2% and 19.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,260 | $3,240 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,580 | $2,430 |
| 2 Bed Rent | $3,350 | $3,350 |
| 3 Bed Rent | $3,730 | $3,630 |
| 4 Bed Rent | $4,200 | $4,600 |
% of Rental Stock
Property Listings — Northborough, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Northborough, MA is 41. This is a increase of 23.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $830,000 | 15.0% |
Listing Count | 36 | 38.0% |
| Listings as % of Homes | 0.2% | 38.0% |
Days on Market | 41 | 23.0% |
Demographics — Northborough, MA
As of the latest ACS Survey released in 2023, Northborough, MA has a population of 15,700, which has increased by 4.7% over the past 5 years. Northborough, MA is a moderately popular place for families, as children make up 22.0% of the population. The area has a highly educated workforce, with 67.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,700 | 4.7% |
% Under 18 | 22.0% | -6.0% |
% Seniors | 16.8% | 7.0% |
% WFH | 20.7% | 115.6% |
% w/ College Degree | 67.4% | 12.7% |
As of the latest ACS Survey released in 2023, Northborough, MA is a predominantly white area, with 77.0% of the population identifying as white. The white population has shrunk by 8.0% in the last 5 years. The second most common race or ethnicity in Northborough, MA is asian, making up 11.0% of the population. Foreign-born residents account for 16.6% of the population in Northborough, MA, and this percentage has increased by 31.7% 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 | 77.0% | -8.0% |
% Black | 3.6% | 50.0% |
% Hispanic | 2.3% | -25.8% |
% Asian | 11.0% | 37.5% |
% Foreign Born | 16.6% | 31.7% |
Mortgage and Risk — Northborough, MA
According to HUD data as of 2023, there were 267 mortgage originations in Northborough, MA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Northborough, MA. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 267 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Northborough, MA
As of 2024, the percent of homes in Northborough, MA under the Section 8 program is 2.2%. 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. In Northborough, 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 | 22 |
Total Units Section 8 | 22 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$420 | $2,580 | $2,160 |
| 2 Bedroom | -$570 | $3,350 | $2,780 |
| 3 Bedroom | -$330 | $3,730 | $3,400 |
| 4 Bedroom | -$460 | $4,200 | $3,740 |
Affordability — Northborough, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $682,000 |
| Median Household Income | $174,000 |