The story of this market
The typical home in Somerville, Massachusetts sells for about $1,100,000, or $850 per square foot.
Prices are up +8.1% from a year ago, so sellers still have some momentum. Homes take about 39 days to sell. HUD's fair market rent for a two-bedroom is $2,517 a month.
Monthly price momentum
Home values since 2015
+2.5%
MA · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Somerville, Massachusetts
The Somerville housing market remains highly competitive, characterized by low inventory and strong demand driven by its transit-oriented development and proximity to Boston. Prices have seen steady year-over-year growth, supported by the expansion of the life sciences sector and the recent Green Line extension. While affordability remains a challenge, the city's ongoing revitalization efforts continue to attract significant investment and interest from both buyers and renters.
No ARED county foreclosure postings attributed to Somerville yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Deterministic aggregate of 3 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved down 9.1% year over year.
Homes spend a median of 39 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.2% · poverty 8.6% — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A historic commercial hub currently undergoing massive revitalization, serving as a center for arts, dining, and transit.
A vibrant, transit-oriented square featuring the Somerville Theatre, diverse restaurants, and a high concentration of local businesses.
A critical multi-use path that provides a safe, off-street corridor for commuters and recreational users across the city.
A historic hilltop park offering panoramic views of the Boston skyline and significant green space for local residents.
Somerville is ideal for young professionals and commuters who prioritize walkability and transit access to Boston and Cambridge. It also attracts families seeking an urban lifestyle with access to community-focused amenities and proximity to world-class education. Investors find the market attractive due to consistent rental demand and long-term appreciation potential.
Somerville Public Schools provide a diverse educational environment with a focus on equity and innovation, though performance metrics vary significantly across individual campuses. The district is currently undergoing strategic planning to modernize facilities and improve student outcomes. Many families supplement public options with private schooling or leverage the proximity to elite higher education institutions in neighboring Cambridge.
The city is exceptionally well-connected via the MBTA Green Line extension and the Red Line, providing rapid access to Boston and Cambridge. The dense street grid and extensive bus network support a high rate of public transit usage and walkability. Major highway access is provided by I-93, which borders the eastern edge of the city.
Somerville offers a robust amenity base centered on its dense, walkable squares like Davis and Union, which feature diverse dining, independent retail, and cultural venues. The Somerville Community Path provides a vital greenway for cyclists and pedestrians, connecting neighborhoods to the broader regional trail network. Numerous public parks and playgrounds are distributed throughout the city, serving as essential community hubs for residents.
The rental market in Somerville is characterized by high demand and low vacancy rates, driven by its proximity to major universities and the Boston employment core. Rent trajectories have remained upward, reflecting the city's desirability and limited housing supply. Investor interest is strong, with a mix of traditional long-term rentals and a regulated short-term rental market.
Somerville's economy is anchored by the life sciences, technology, and education sectors, benefiting from its proximity to MIT and Harvard. The city has successfully transitioned from an industrial base to a hub for innovation and creative industries. Momentum remains strong due to significant private investment in transit-oriented development.
Somerville is experiencing significant economic momentum driven by the expansion of the life sciences and biotech sectors, particularly around the Union Square and Assembly Row developments. The extension of the MBTA Green Line has acted as a major catalyst for transit-oriented development and increased property demand. Major infrastructure projects continue to reshape the city's industrial corridors into mixed-use hubs.
The city's planning pipeline is heavily focused on transit-oriented development around the new Green Line stations. Major projects include the continued build-out of the Union Square and Boynton Yards districts, emphasizing high-density residential and commercial growth.
Parcels in Somerville are subject to standard municipal property taxes and may fall within specific business improvement districts or local historic districts. There are no MUDs or PIDs in the Texas sense, but the city manages various utility and infrastructure assessments.
Somerville generally experiences lower violent crime rates compared to national averages, though property crime remains a focus for local law enforcement. The city benefits from its dense, walkable urban environment which promotes natural surveillance and community engagement. Regional comparisons indicate it remains a relatively safe urban enclave within the Greater Boston area.
The city faces moderate risks related to urban flooding during extreme weather events, particularly in low-lying areas near the Alewife Brook and Mystic River. Insurance premiums are influenced by these localized flood zones and the age of the housing stock. The city actively manages these risks through updated stormwater infrastructure and zoning requirements.
Property insurance in Somerville is influenced by the city's urban density and localized flood risks. Premiums are generally stable but reflect the high replacement costs associated with the region's older housing stock.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Massachusetts) — Massachusetts Local Property Tax: Ad valorem tax calculated as (Municipal Budget / Total Assessed Value of all taxable property) = Tax Rate per $1,000 of assessed value. Assessments must be at 100% of full and fair cash (market) value.
Researched annual trajectory for this city, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this city's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Data retrieved from U.S. Census Bureau QuickFacts and Census Reporter profiles.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.