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These days, finding an affordable place to live in the Massachusetts area can be challenging. Home prices in Massachusetts are now at a median cost of $477,554, higher than the the United States average of $313,691.
The average cost of rent is $1,522/mo in Massachusetts, primarily driven by the current value of real estate in the Massachusetts area. While nearly 32.59% of residents own their homes outright in Massachusetts, 32.29% rent.
Housing affordability isn’t just about home prices, though. The average household income in Massachusetts is $8,573 per month. Households that rent pay about 17.75% of their income on rent here. Massachusetts's most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the state.
Nearby States
- Rhode Island: less expensive homes
- New Hampshire: less expensive homes
- Connecticut: less expensive homes
- Vermont: less expensive homes
- New York: equally priced homes
- Maine: less expensive homes
- New Jersey: less expensive homes
- Delaware: less expensive homes
- Pennsylvania: less expensive homes
- Maryland: less expensive homes
States with Similar Populations
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