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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Chelsea, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Chelsea, MA Housing Market Trends

With a population of 38,637, 13,386 total housing units (homes and apartments), and a median house value of $606,689, real estate costs in Chelsea are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Chelsea, accounting for 47.24% of the city's housing units. Other types of housing that are prevalent in Chelsea include large apartment complexes or high rise apartments ( 40.49%), single-family detached homes ( 8.19%), and a few row houses and other attached homes ( 3.85%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

Chelsea is dominated by renter-occupied one, two, or no bedrooms apartments. 72.63% of Chelsea's dwellings are rentals.

The housing in Chelsea was primarily built before 1939 ( 50.46%), making the housing stock in Chelsea some of the oldest overall in America, although there is a range of ages of homes in Chelsea. The next most important housing age is between 1970-1999 ( 18.55%), followed by between 2000 and later ( 16.80%). There's also some housing in Chelsea built between 1940-1969 ( 14.18%).

Chelsea Home Appreciation Rates

In the last 10 years, Chelsea has experienced some of the highest home appreciation rates of any community in the nation. Chelsea real estate appreciated 155.52% over the last ten years, which is an average annual home appreciation rate of 9.84%, putting Chelsea in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Chelsea 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, Chelsea's appreciation rate, at 6.13%, has been at or slightly above the national average. In the latest quarter, Chelsea's appreciation rate has been 1.11%, which annualizes to a rate of 4.52%.

Relative to Massachusetts, our data show that Chelsea's latest annual appreciation rate is lower than 70% 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 Chelsea differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chelsea - 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 Chelsea real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$606,689

Chelsea, MA Home Prices
> $1,327,000
$996,001 - $1,327,000
$664,001 - $996,000
$531,001 - $664,000
$399,001 - $531,000
$265,001 - $399,000
$133,001 - $265,000
$66,001 - $133,000
$0 - $66,000
3.0%
3.0%
5.6%
5.6%
23.5%
23.5%
37.2%
37.2%
17.8%
17.8%
9.6%
9.6%
0.8%
0.8%
0.4%
0.4%
2.0%
2.0%
0% 100.0%
% of Homes
Average

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

13,386

Chelsea Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,493 / per month

Homeownership Rate

Owners
Renters
27.4%
27.4%
72.6%
72.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.2%
5.2%
94.8%
94.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.8%
16.8%
18.5%
18.5%
14.2%
14.2%
50.5%
50.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
8.2%
8.2%
3.9%
3.9%
47.2%
47.2%
40.5%
40.5%
0.2%
0.2%
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
9.6%
9.6%
21.2%
21.2%
28.5%
28.5%
31.0%
31.0%
7.4%
7.4%
2.2%
2.2%
0% 100.0%
% of Homes