Housing in 02145 Somerville, MA is expensive. The median value for a house in the area is $726,300, which is more than double the US median of $338,100. Despite the high cost of housing in 02145, appreciation rates are still positive and currently stand at 5.64%, which is slightly lower than the national average of 8.27%. This indicates that even though it may be expensive to buy a house in this area, those that do will likely see an increase in their investment over time.
The median home cost in Somerville (zip 02145) is $726,300. Home appreciation the last 10 years has been 104.4%. Home Appreciation in Somerville (zip 02145) is up 10.6%.
Average Age of Homes
- The median age of Somerville (zip 02145) real estate is 78 years old
The Rental Market in Somerville (zip 02145)
- Renters make up 58.7% of the Somerville (zip 02145) population
- 0.7% of houses and apartments in Somerville (zip 02145), 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.