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These days, finding an affordable place to live in the Cambridge area can be challenging. Home prices in Cambridge are now at a median cost of $1,173,422, higher than the Massachusetts average of $625,090.
The average cost of rent is $2,761/mo in Cambridge, primarily driven by the current value of real estate in the Cambridge area. In Cambridge, 66.58% of households rent, and 40.27% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Cambridge is $10,909 per month. Households that rent pay about 25.31% of their income on rent here. Cambridge’s most expensive areas are in the northern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Somerville, MA: less expensive homes
- Allston, MA: less expensive homes
- Watertown, MA: less expensive homes
- Brookline, MA: equally priced homes
- Charlestown, MA: less expensive homes
- Brighton, MA: less expensive homes
- Medford, MA: less expensive homes
- Belmont, MA: equally priced homes
- Watertown Town, MA: less expensive homes
- Boston, MA: less expensive homes
Cities with Similar Populations
- Kalamazoo, MI: less expensive homes
- Katy, TX: less expensive homes
- Hoover, AL: less expensive homes
- Irving, TX: less expensive homes
- Indianapolis, IN: less expensive homes
- Kansas City, MO: less expensive homes
- Kansas City, KS: less expensive homes
- Jackson, MS: less expensive homes
- Humble, TX: less expensive homes
- Huntington Beach, CA: equally priced homes
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