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These days, finding an affordable place to live in the Chestnut Hill area can be challenging. Home prices in Chestnut Hill are now at a median cost of $1,705,568, higher than the Massachusetts average of $625,090.
The average cost of rent is $2,737/mo in Chestnut Hill, primarily driven by the current value of real estate in the Chestnut Hill area. In Chestnut Hill, 26.57% of households rent, and 48.21% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Chestnut Hill is $17,332 per month. Households that rent pay about 15.79% of their income on rent here. Chestnut Hill’s most expensive areas are in the northeastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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