Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Institute Park area can be challenging. Home prices in Institute Park are now at a median cost of $217,570, lower than the Worcester average of $314,805.
The average cost of rent is $1,206/mo in Institute Park, primarily driven by the current value of real estate in the Institute Park area. While nearly 53.41% of residents own their homes outright in Institute Park, 90.69% rent.
Housing affordability isn’t just about home prices, though. The average household income in Institute Park is $2,889 per month. Households that rent pay about 41.74% of their income on rent here. Institute Park's most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the neighborhood.
Nearby Neighborhoods
- Central Business District, Worcester, MA: equally priced homes
- Bell Hill, Worcester, MA: higher priced homes
- Main Middle, Worcester, MA: less expensive homes
- Green Island, Worcester, MA: higher priced homes
- Salisbury Street, Worcester, MA: higher priced homes
- University Park, Worcester, MA: equally priced homes
- Indian Lake East, Worcester, MA: equally priced homes
- Franklin Plantation, Worcester, MA: higher priced homes
- Newton Square, Worcester, MA: higher priced homes
- Union Hill, Worcester, MA: higher priced homes
Neighborhoods with Similar Populations
- Bethel Welborn, Kansas City, KS: less expensive homes
- Brookline Village Commercial District, Brookline, MA: higher priced homes
- Calumet Heights, Chicago, IL: less expensive homes
- Cedar-Riverside, Minneapolis, MN: less expensive homes
- Central, Minneapolis, MN: equally priced homes
- Duboce Triangle, San Francisco, CA: higher priced homes
- Holiday Hill, Jacksonville, FL: less expensive homes
- Sunbeam, Jacksonville, FL: equally priced homes
- Midtown, Little Rock, AR: equally priced homes
- Mustang-Padre Island, Corpus Christi, TX: higher priced homes
All Local Stats
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