Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Gloucester area can be challenging. Home prices in Gloucester are now at a median cost of $480,749, higher than the Massachusetts average of $477,554.
The average cost of rent is $1,290/mo in Gloucester, primarily driven by the current value of real estate in the Gloucester area. While nearly 34.44% of residents own their homes outright in Gloucester, 32.42% rent.
Housing affordability isn’t just about home prices, though. The average household income in Gloucester is $7,497 per month. Households that rent pay about 17.21% of their income on rent here. Gloucester's most expensive areas are in the northwestern regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Rockport, MA: higher priced homes
- South Essex, MA: higher priced homes
- Manchester, MA: higher priced homes
- Essex, MA: higher priced homes
- Little Neck, MA: higher priced homes
- Manchester-By-The-Sea, MA: higher priced homes
- South Hamilton, MA: higher priced homes
- Ipswich, MA: higher priced homes
- Wenham, MA: higher priced homes
- Beverly, MA: higher priced homes
Cities with Similar Populations
- Webster, TX: less expensive homes
- Corbin, KY: less expensive homes
- Dade City, FL: less expensive homes
- Davison, MI: less expensive homes
- Deer Park, NY: less expensive homes
- Derby, KS: less expensive homes
- Edwardsville, IL: less expensive homes
- Forest Grove, OR: less expensive homes
- Fridley, MN: less expensive homes
- Gainesville, VA: equally priced homes
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