New Bedford, MA—02740
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 $412,000, with a year-over-year change of 0.8%. This indicates that home prices in New Bedford, MA are flat. 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 | $412,000 | 0.8% |
| Single Family | $416,000 | 0.5% |
| Condos | $284,000 | 5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $366,000 | 1.1% |
3 Bed | $413,000 | 0.5% |
4 Bed | $432,000 | 0.5% |
| 5 Bed | $525,000 | 2.1% |
% of Housing Stock
Rental Trends — New Bedford, MA
As of July '25, Rentcast reports the average rent in New Bedford, MA is $1,860, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in New Bedford, MA is studios: $1,040, 1-bedrooms: $1,460, 2-bedrooms: $2,050, 3-bedrooms: $2,210, 4-bedrooms: $2,530. The most common rental property sizes in New Bedford, MA are 2-bedroom and 3-bedroom, accounting for 34.3% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,860 |
| Studio Rent | $1,030 | $1,040 |
| 1 Bed Rent | $1,350 | $1,460 |
| 2 Bed Rent | $2,000 | $2,050 |
| 3 Bed Rent | $2,000 | $2,210 |
| 4 Bed Rent | $2,700 | $2,530 |
% 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 40. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $439,000 | 6.0% |
Listing Count | 36 | 5.0% |
| Listings as % of Homes | 0.2% | 5.0% |
Days on Market | 40 | 1.0% |
Demographics — New Bedford, MA
As of the latest ACS Survey released in 2023, New Bedford, MA has a population of 46,300, which has increased by 6.3% over the past 5 years. New Bedford, MA is a moderately popular place for families, as children make up 22.8% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 46,300 | 6.3% |
% Under 18 | 22.8% | 6.0% |
% Seniors | 16.9% | 0.6% |
% WFH | 5.7% | 128.0% |
% w/ College Degree | 18.1% | -8.6% |
As of the latest ACS Survey released in 2023, New Bedford, MA is a predominantly white area, with 51.9% of the population identifying as white. The white population has shrunk by 8.3% in the last 5 years. The second most common race or ethnicity in New Bedford, MA is hispanic, making up 23.0% of the population. Foreign-born residents account for 18.7% of the population in New Bedford, MA, and this percentage has increased by 10.7% 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 | 51.9% | -8.3% |
% Black | 8.5% | -1.2% |
% Hispanic | 23.0% | 23.7% |
% Asian | 2.3% | 4.5% |
% Foreign Born | 18.7% | 10.7% |
Mortgage and Risk — New Bedford, MA
According to HUD data as of 2023, there were 559 mortgage originations in New Bedford, MA, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in New Bedford, MA. Investor activity is low, as 2.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 559 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
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 18.5%. 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 New Bedford, 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 | 3,019 |
Total Units Section 8 | 2,230 |
% Rentals under Section 8 | 18.5% |
% Occupied Section 8 | 94.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$240 | $1,350 | $1,110 |
| 2 Bedroom | -$630 | $2,000 | $1,370 |
| 3 Bedroom | -$350 | $2,000 | $1,650 |
| 4 Bedroom | -$720 | $2,700 | $1,980 |
Affordability — New Bedford, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.4 |
| Median Home Price | $412,000 |
| Median Household Income | $54,600 |