Somerville, MA has a population of 79,983, while the median age is 32. The household income in Somerville, MA is around $84,722. The homeownership rate among the residents is 34%. The median residential property value in Somerville, MA that you should keep in mind is $558,300.
Population | 79,983 |
Median Age | 31.5 |
Poverty Rate | 12% |
Household Income | $84,722 |
Number Of Employees | 53,231 |
Median Property Value | $558,300 |
Rent Price | Jan | vs Last Month |
---|---|---|
Studio apartments | $2,283 | N/A |
1-bed apartments | $1,711 | -6.4% |
2-bed apartments | $3,136 | +7.6% |
3-bed apartments | $5,373 | +41.4% |
4+ bed apartments | $4,597 | -17.8% |
Over the Jan 2023, the average rent for an apartment in/near Somerville, MA increased by 23.6% to $3,790.
The average price for a rental studio in Somerville, MA has remained the same as last month and equals $2,283. Breaking it down in details, we now see that the average price for 1-bed apartment decreased by 6.4% to $1,711. Pricing for 2-bed apartment also increased by 7.6% and a place of this size will now cost you $3,136. 3-bed apartment rent pricing starts at $5,373, it increased by 41.4% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 17.8% and made it down to $4,597.
Rent Type Price | Jan | vs Last Month |
---|---|---|
Rooms for rent | $3,631 | -20.5% |
Houses for rent | $3,700 | -10.2% |
Condos for rent | $5,031 | +18.8% |
Apartments for rent | $3,513 | +38% |
The median rent for an apartment in Somerville, MA increased by 38% to $3,513. Statistics show that house rent price decreased by 10.2% this month making it up to $3,700. Condos faced an upward trend these days. The median rent for a condo increased by 18.8%, it’s now available for $5,031. An average room will now go for $3,631, the median rent price for a room decreased by 20.5%.