Northborough, MA 01532 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Northborough, MA—01532

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$671,000

1.4% YoY Growth

Household Income

$174,000

53.5% YoY Growth

Days on Market

3.0% Longer YoY

Home Price Forecast

2.7%

Median Rent

$3,260

9.0% YoY Growth

1-Bed Rent

$2,580

12.9% YoY Growth

2-Bed Rent

$3,350

14.3% YoY Growth

3-Bed Rent

$3,730

1.4% YoY Growth

Home Price Trends — Northborough, MA

As of Dec '25, the median home price in Northborough, MA is $671,000, with a year-over-year change of 1.4%. This indicates that home prices in Northborough, MA are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$671,000	1.4%
Single Family	$700,000	1.2%
Condos	$490,000	2.1%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

13.8%

1 Bedroom

19.9%

2 Bedrooms

50.2%

3 Bedrooms

6.4%

4 Bedrooms

7.9%

5+ Bedrooms

1.8%

Property Listings — Northborough, MA

As of Dec '25, Realtor.com reports that the median days on market for a home in Northborough, MA is 44. This is a increase of 10.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$839,000	-4.0%
Listing Count	20	20.0%
Listings as % of Homes	0.2%	20.0%
Days on Market	85	3.0%

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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%

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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%

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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%

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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

Northborough, MA—01532

Key Metrics at a Glance

Home Price Trends — Northborough, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Northborough, MA

% of Rental Stock

Property Listings — Northborough, MA

Demographics — Northborough, MA

Race and Ethnicity

Mortgage and Risk — Northborough, MA

Mortgages

Rentals and Section 8 — Northborough, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Northborough, MA

Home Price to Income Ratio

Northborough, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Berlin, MA

Westborough, MA

Shrewsbury, MA

Boylston, MA

Clinton, MA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$671,000
Median Household Income	$174,000

Northborough, MA—01532

Key Metrics at a Glance

Home Price Trends — Northborough, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Northborough, MA

% of Rental Stock

Property Listings — Northborough, MA

Demographics — Northborough, MA

Race and Ethnicity

Mortgage and Risk — Northborough, MA

Mortgages

Rentals and Section 8 — Northborough, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Northborough, MA

Home Price to Income Ratio

Northborough, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Berlin, MA

Westborough, MA

Shrewsbury, MA

Boylston, MA

Clinton, MA

Frequently Asked Questions

What is the average home price in Northborough, MA 01532?

How have home prices in Northborough, MA 01532 changed over the past year?

What is the home price projection for Northborough, MA 01532?

What are the demographics of Northborough, MA 01532?

How long does it take homes to sell in Northborough, MA 01532?

What is the average rent price in Northborough, MA 01532?