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These days, finding an affordable place to live in the Chelsea area can be challenging. Home prices in Chelsea are now at a median cost of $510,697, lower than the Massachusetts average of $625,090.
The average cost of rent is $1,958/mo in Chelsea, primarily driven by the current value of real estate in the Chelsea area. In Chelsea, 73.99% of households rent, and 32.22% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Chelsea is $6,406 per month. Households that rent pay about 30.57% of their income on rent here. Chelsea’s most expensive areas are in the western regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Everett, MA: higher priced homes
- Revere, MA: higher priced homes
- Charlestown, MA: higher priced homes
- Malden, MA: higher priced homes
- Winthrop Town, MA: higher priced homes
- Somerville, MA: higher priced homes
- Medford, MA: higher priced homes
- Cambridge, MA: higher priced homes
- Melrose, MA: higher priced homes
- Boston, MA: higher priced homes
Cities with Similar Populations
- Willowbrook, CA: higher priced homes
- Rockledge, FL: less expensive homes
- Hope Mills, NC: less expensive homes
- Howell, NJ: equally priced homes
- La Porte, IN: less expensive homes
- La Vergne, TN: less expensive homes
- Ladson, SC: less expensive homes
- Lincoln Park, MI: less expensive homes
- Aguadilla, PR: less expensive homes
- Maricopa, AZ: less expensive homes
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