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Cambridge, MA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cambridge, MA Housing Market Trends

With 118,403 people, 47,449 houses or apartments, and a median cost of homes of $1,185,732, Cambridge house prices are not only among the most expensive in Massachusetts, Cambridge real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Cambridge, accounting for 54.95% of the city's housing units. Other types of housing that are prevalent in Cambridge include duplexes, homes converted to apartments or other small apartment buildings ( 28.95%), single-family detached homes ( 9.94%), and a few row houses and other attached homes ( 6.12%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Cambridge is dominated by renter-occupied one, two, or no bedrooms apartments. 70.08% of Cambridge's dwellings are rentals.

The housing in Cambridge was primarily built before 1939 ( 48.05%), making the housing stock in Cambridge some of the oldest overall in America, although there is a range of ages of homes in Cambridge. The next most important housing age is between 1970-1999 ( 20.41%), followed by between 1940-1969 ( 16.58%). There's also some housing in Cambridge built between 2000 and later ( 14.96%).

Cambridge Home Appreciation Rates

Appreciation rates for homes in Cambridge have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.33%, which ranks in the top 30% nationwide. This equates to an annual average Cambridge house appreciation rate of 7.14%.

Over the last year, Cambridge appreciation rates have trailed the rest of the nation. In the last twelve months, Cambridge's appreciation rate has been 11.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cambridge were at 1.63%, which equates to an annual appreciation rate of 6.66%.

Notably, Cambridge's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Massachusetts, our data show that Cambridge's latest annual appreciation rate is higher than 60% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cambridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cambridge - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Cambridge real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,185,732

Cambridge, MA HOME PRICES

> $1,379,000
$1,034,001 - $1,379,000
$689,001 - $1,034,000
$552,001 - $689,000
$414,001 - $552,000
$276,001 - $414,000
$138,001 - $276,000
$69,001 - $138,000
$0 - $69,000
34.4%
34.4%
23.8%
23.8%
27.8%
27.8%
5.5%
5.5%
3.0%
3.0%
2.5%
2.5%
1.7%
1.7%
0.5%
0.5%
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MA

Value Relative To Nation

Number Of Homes And Apartments:
47,449

Cambridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
154.14% 4.23%
10
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,596 / per month

Homeownership Rate

Owners
Renters
Vacant
29.9%
29.9%
70.1%
70.1%
8.4%
8.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.0%
15.0%
20.4%
20.4%
16.6%
16.6%
48.0%
48.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
9.9%
9.9%
6.1%
6.1%
29.0%
29.0%
54.9%
54.9%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
7.2%
7.2%
27.7%
27.7%
37.0%
37.0%
18.9%
18.9%
6.4%
6.4%
2.8%
2.8%
0.0% 100.0%
% OF HOMES