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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 a population of 118,927, 46,835 total housing units (homes and apartments), and a median house value of $946,550, 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 55.68% 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 ( 29.82%), single-family detached homes ( 8.67%), and a few row houses and other attached homes ( 5.76%). 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. 70.16% of Cambridge's dwellings are rentals.

The housing in Cambridge was primarily built before 1939 ( 48.75%), 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 ( 19.74%), followed by between 1940-1969 ( 17.34%). There's also some housing in Cambridge built between 2000 and later ( 14.17%).

Cambridge Home Appreciation Rates

In the last 10 years, Cambridge has experienced some of the highest home appreciation rates of any community in the nation. Cambridge real estate appreciated 67.29% over the last ten years, which is an average annual home appreciation rate of 5.28%, putting Cambridge in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cambridge definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Cambridge's appreciation rate, at 6.32%, has been at or slightly above the national average. In the latest quarter, Cambridge's appreciation rate has been 1.52%, which annualizes to a rate of 6.22%.

Relative to Massachusetts, our data show that Cambridge's latest annual appreciation rate is lower than 50% 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:
$946,550

Cambridge, MA HOME PRICES

> $1,232,000
29.4%
29.4%
$924,001 - $1,232,000
22.3%
22.3%
$616,001 - $924,000
28.4%
28.4%
$493,001 - $616,000
9.0%
9.0%
$370,001 - $493,000
5.2%
5.2%
$247,001 - $370,000
3.0%
3.0%
$123,001 - $247,000
1.8%
1.8%
$62,001 - $123,000
0.3%
0.3%
$0 - $62,000
0.6%
0.6%
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:
46,835

Cambridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
110.51% 3.57%
9
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,940 / per month

Homeownership Rate

Owners
29.8%
29.8%
Renters
70.2%
70.2%
Vacant
9.7%
9.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.2%
14.2%
1970 - 1999
19.7%
19.7%
1940 - 1969
17.3%
17.3%
1939 or Older
48.7%
48.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
8.7%
8.7%
Townhomes
5.8%
5.8%
Small Apt. Buildings
29.8%
29.8%
Apt. Complexes
55.7%
55.7%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
7.9%
7.9%
1 Bedroom
28.5%
28.5%
2 Bedrooms
36.1%
36.1%
3 Bedrooms
19.1%
19.1%
4 Bedrooms
5.6%
5.6%
5 or more bedrooms
2.8%
2.8%
0.0% 100.0%
% OF HOMES