Zip 02143 (Somerville, MA) Housing

The housing market in 02143 Somerville, MA is quite expensive compared to the national average. The median value of a home in the area is $823,500, while the national median value is only $338,100. Despite this cost difference, it appears that the housing appreciation rate in 02143 Somerville is actually lower than the national average. Over the past year, homes have appreciated 5.64%, whereas nationally homes have appreciated 8.27%. As such, it may be more difficult for homeowners to turn a profit through appreciation in 02143 Somerville compared to other parts of the country.

The median home cost in Somerville (zip 02143) is $823,500. Home appreciation the last 10 years has been 104.4%. Home Appreciation in Somerville (zip 02143) is up 10.6%.

Average Age of Homes

- The median age of Somerville (zip 02143) real estate is 78 years old

The Rental Market in Somerville (zip 02143)

- Renters make up 66.4% of the Somerville (zip 02143) population
- 0.7% of houses and apartments in Somerville (zip 02143), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Somerville, Massachusetts	United States
	12,492.0	139,647,020.0
	61	42
	$823,500	$338,100
	10.6%	16.6%
	44.8%	57.0%
	104.4%	101.1%
	$11.44	$10.98
	$5,491	$2,690
	29.6%	57.4%
	7.0%	11.2%
	63.4%	31.4%
Vacant Housing
	0.7%	1.9%
	0.7%	0.4%
	1.2%	0.7%
	0.1%	0.4%
	0.5%	3.6%
	3.8%	4.1%
Value of Owner-Occupied Housing
	1.8%	2.6%
	0.0%	2.4%
	0.0%	2.8%
	0.0%	3.9%
	0.0%	4.5%
	0.0%	11.3%
	0.8%	13.0%
	2.6%	20.1%
	3.1%	13.6%
	6.2%	8.3%
	33.9%	9.7%
	29.8%	3.9%
	17.4%	2.2%
	3.6%	0.8%
	0.9%	1.1%
Housing Units by Year Structure Built
	0.6%	0.2%
	3.0%	13.6%
	3.0%	13.6%
	3.1%	13.6%
	6.5%	13.2%
	7.7%	14.8%
	3.1%	13.6%
	4.7%	10.0%
	4.5%	4.7%
	59.2%	12.2%

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