ZIP Code 01375 Housing Market

📝 Local Market Notes

The housing market in ZIP code 01375, located in Franklin County, Massachusetts, has experienced a sustained period of significant appreciation. The FHFA House Price Index for this area has risen from 179.23 in 2019 to 269.33 in 2025, representing a cumulative increase of approximately 50% over the five-year period. This trajectory indicates a robust recovery and expansion phase, with particularly sharp gains observed between 2021 and 2022. The current HPI level of 269.3 suggests that home values in this specific micro-market have nearly tripled since the year 2000, reflecting deep-seated structural demand and limited inventory over the long term. When comparing year-over-year performance, ZIP 01375 is moving in alignment with broader regional trends, though with distinct intensity. The county’s year-over-year growth stands at +9.60%, while the state average is +3.63%. Given that the ZIP’s recent HPI jump from 231.09 in 2022 to 269.33 in 2025 implies an annualized growth rate exceeding the county average, the area is outperforming the state significantly. This divergence signals that local demand factors are driving prices higher than statewide averages, likely due to specific locality amenities or constrained supply within the Franklin County context. The sub-market character of 01375 appears to be a mid-tier owner-occupied community. With a parent county median home value of $329,000 and an owner occupancy rate of 70.1%, the area leans toward homeownership rather than a renter-heavy profile. The median household income of $74,907 supports this assessment, indicating a market accessible to middle-income buyers rather than a luxury enclave. Prospective buyers should note that the rapid price appreciation has likely outpaced local income growth, increasing the cost of entry. With 30-year mortgage rates at 7.40%, monthly carrying costs are elevated, making affordability a primary constraint for new entrants. The data suggests a competitive environment where price increases are outstripping typical state-level inflation, requiring careful budgetary planning for potential residents.

Based on FHFA House Price Index data.