Essex County, Massachusetts Housing Market
In Essex County, Massachusetts, the median home value is $619,100, with a median monthly rent of $1,756. This places Essex County at #76 nationally out of 3134 counties by median home value, and #7 within Massachusetts.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,493
- Establishments: 28,867
- BLS QCEW, 2025
Housing Supply
- Single-family: 358
- Multi-family: 584
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 352,000 (avg $126,272)
- Outflow: 348,950 (avg $126,426)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Essex County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 01908 | 316.0 | +9.43% | 2025 |
| 2 | 01938 | 271.2 | +4.06% | 2025 |
| 3 | 01984 | 249.5 | +13.71% | 2025 |
| 4 | 01841 | 416.5 | +4.30% | 2025 |
| 5 | 01950 | 339.3 | +10.78% | 2025 |
| 6 | 01832 | 308.3 | +9.75% | 2025 |
| 7 | 01843 | 368.4 | +3.77% | 2025 |
| 8 | 01902 | 355.6 | +4.52% | 2025 |
| 9 | 01913 | 293.9 | +9.95% | 2025 |
| 10 | 01951 | 306.7 | +8.25% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Essex County Compares
| Metric | Essex County | Massachusetts Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $619,100 | $634,257 | $227,706 |
| Median Gross Rent | $1,756 | $1,615 | $968 |
| Owner Occupancy Rate | 63.5% | 67.2% | 73.3% |
| Price/Rent Ratio | 29.4 | 32.3 | 18.7 |
Market Analysis
The median home value in Essex County is 2.4% below the Massachusetts state average and 171.9% above the U.S. national average. The median rent of $1,756/month is 8.7% above the state average.
With a price-to-rent ratio of 29.4, Essex County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Essex County has an owner-occupancy rate of 63.5%, compared to 67.2% in Massachusetts and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Solano County | California | $617,700 | $2,163 |
| Yolo County | California | $620,700 | $1,857 |
| Nevada County | California | $621,800 | $1,677 |
| Gunnison County | Colorado | $621,800 | $1,252 |
| Denver County | Colorado | $616,000 | $1,831 |
Other Counties in Massachusetts
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Barnstable County | $629,000 | $1,678 | 81.1% |
| Plymouth County | $556,000 | $1,747 | 77.6% |
| Norfolk County | $683,900 | $2,149 | 68.7% |
| Suffolk County | $705,800 | $2,129 | 36.5% |
| Middlesex County | $727,800 | $2,201 | 61.3% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).