ZIP Code 01151 Housing Market

📝 Local Market Notes

The housing market in ZIP code 01151, located within Hampden County, Massachusetts, exhibits a distinct pattern of accelerated appreciation in recent years. The Home Price Index (HPI) for this area has risen from 274.41 in 2021 to 371.2 in 2025, representing a significant cumulative increase. Notably, the most substantial jump occurred between 2023 and 2024, where the index surged from 298.0 to 369.51. This trajectory indicates that the local market experienced a period of intense price correction or rapid revaluation, distinguishing it from the more gradual growth seen in previous years. Despite this historical momentum, current year-over-year performance reveals a notable divergence from broader regional trends. ZIP 01151 posted a modest 0.46% increase in 2025, significantly lagging behind the county’s 5.27% growth and the state’s 3.63% rise. This stagnation relative to the surrounding Hampden County market suggests that the previous year’s sharp spike may have reached a temporary saturation point. In contrast, nearby ZIP 01034 continues to see double-digit growth at 11.10%, while ZIP 01521 contracts by 7.19%, highlighting the fragmented nature of the local real estate landscape. Contextual data from the parent county indicates a median home value of $298,800 and a median household income of $71,306. With an owner-occupancy rate of 62.2%, the area functions as a mixed-market sub-region rather than a purely luxury or entry-level enclave. The HPI level of 371.2 suggests that home values in 01151 are currently priced at a premium relative to the 2000 baseline, potentially exceeding the county median. For prospective buyers, the low current growth rate amidst high mortgage rates of 7.40% suggests a cooling phase after a volatile surge. Residents should note that while prices have stabilized compared to the 2024 spike, they remain elevated relative to the broader county average, positioning 01151 as a high-value segment within a mid-income regional context.

Based on FHFA House Price Index data.