Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the MIT area can be challenging. Home prices in MIT are now at a median cost of $1,065,676, higher than the Cambridge average of $947,714.
The average cost of rent is $3,270/mo in MIT, primarily driven by the current value of real estate in the MIT area. While nearly 36.09% of residents own their homes outright in MIT, 72.85% rent.
Housing affordability isn’t just about home prices, though. The average household income in MIT is $5,307 per month. Households that rent pay about 61.63% of their income on rent here. MIT's most expensive areas are in the northeastern regions, while the cheapest areas are in the northern parts of the neighborhood.
Nearby Neighborhoods
- Area IV, Cambridge, MA: less expensive homes
- Cambridgeport, Cambridge, MA: less expensive homes
- Back Bay, Boston, MA: higher priced homes
- Wellington-Harrington, Cambridge, MA: less expensive homes
- Fenway-Kenmore, Boston, MA: less expensive homes
- East Cambridge, Cambridge, MA: less expensive homes
- Mid-Cambridge, Cambridge, MA: less expensive homes
- Riverside, Cambridge, MA: equally priced homes
- North Brookline, Brookline, MA: higher priced homes
- Union Square, Somerville, MA: less expensive homes
Neighborhoods with Similar Populations
- Indian Hills, Grand Prairie, TX: less expensive homes
- Southside, Huntington, WV: less expensive homes
- Southeast Como, Minneapolis, MN: less expensive homes
- Southeast, Brentwood, TN: less expensive homes
- South Westnedge, Kalamazoo, MI: less expensive homes
- South Los Altos, Los Altos, CA: higher priced homes
- Los Cerritos, Long Beach, CA: less expensive homes
- Las Positas, Santa Barbara, CA: higher priced homes
- Interlake, Bellevue, WA: less expensive homes
- St Jean, Detroit, MI: less expensive homes
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