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.
|Number Of Employees||53,231|
|Median Property Value||$558,300|
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.
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%.