New Bedford, MA—02745
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Bedford, MA
As of Aug '25, the median home price in New Bedford, MA is $437,000, with a year-over-year change of 2.7%. This indicates that home prices in New Bedford, MA are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $371,000 | 2.8% |
3 Bed | $456,000 | 2.2% |
4 Bed | $480,000 | 2.1% |
| 5 Bed | N/A | N/A |
Rental Trends — New Bedford, MA
As of Jul '25, the average rent in New Bedford, MA is $1,880, with a year-over-year rent change of 6.2%. 1-bedroom units average $1,430 (-2.1%); 2-bedroom units average $1,860 (3.9%); 3-bedroom units average $2,000 (9.9%); 4-bedroom units average $2,850 (26.7%)
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,880 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,450 | $1,430 |
| 2 Bed Rent | $1,800 | $1,860 |
| 3 Bed Rent | $1,800 | $2,000 |
| 4 Bed Rent | $2,700 | $2,850 |
Property Listings — New Bedford, MA
As of Aug '25 and according to Realtor.com, the median days on market for a home in New Bedford, MA is NA. This is an insufficient data of NA from last year. This indicates that homes are sitting on the market insufficient data to determine a trend than last year. The percentage of listed homes with a reduced price is NA. This is an unknown percentage of inventory, suggesting unknown supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | N/A | N/A |
Listing Count | N/A | N/A |
| Listings as % of Homes | 0.2% | N/A |
Days on Market | N/A | N/A |
Demographics — New Bedford, MA
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,000 | 1.6% |
% Under 18 | 21.7% | 13.0% |
| % Under 5 | N/A | N/A |
% Seniors | 16.7% | 2.5% |
% WFH | 6.1% | 154.2% |
% w/ College Degree | 20.4% | 5.2% |
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 71.4% | -13.5% |
% Black | 1.5% | -40.0% |
% Hispanic | 16.3% | 87.4% |
% Asian | 1.3% | 44.4% |
% Foreign Born | 16.3% | -7.9% |
Mortgage and Risk — New Bedford, MA
According to the latest data from the U.S. Department of Housing and Urban Development (HUD) as of 2023, the number of mortgages originated in New Bedford, MA in that year was 387. 75.0% of all primary home loans were conventional, the remainder were government-backed loans, such as FHA loans. The average loan-to-value for all loans was 62.0%. Of those, 29.0% were >90% loan to value. This is considered very high, suggesting that mortgage risk is large in New Bedford, MA. Investor activity in New Bedford, MA is low, as 2.0% of all loans are originated by investors. In 2023, 13.0% of all loans were cash-out refinances, suggesting many homeowners are actively tapping their home's equity.
Mortgages
| Metric | Zip Code Average | Metro Average | State Average |
|---|---|---|---|
Total Loan Originations | 387 | N/A | N/A |
% Conventional Loans | 75.0% | N/A | N/A |
% Government Loans | 25.0% | N/A | N/A |
% Investor Loans | 2.0% | N/A | N/A |
% Second Loans | 1.0% | N/A | N/A |
% Cash Out Refinance | 13.0% | N/A | N/A |
Rentals and Section 8 — New Bedford, MA
As of 2024, the percent of homes in New Bedford, MA under the Section 8 program is 6.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays homeowners more than the average rental market rate for various home sizes. For each bedroom size, the average difference between HUD payments and market rents is shown in the table below.
Section 8 Market Size
Total Units under HUD | 657 |
Total Units Section 8 | 262 |
% Rentals under Section 8 | 6.9% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$290 | $1,450 | $1,160 |
| 2 Bedroom | -$370 | $1,800 | $1,430 |
| 3 Bedroom | -$80 | $1,800 | $1,720 |
| 4 Bedroom | -$640 | $2,700 | $2,060 |
Affordability — New Bedford, MA
Home Price to Income Ratio
| Metric | Zip Code Average | Metro Average | State Average |
|---|---|---|---|
| Home Price to Income Ratio | 5.1 | N/A | N/A |
| Median Home Price | $437,000 | N/A | N/A |
| Median Household Income | $73,200 | N/A | N/A |