Cambridge real estate market overview
- Average Monthly Rent: $3,477
- Home Price/Value Percentage Change: -3.50%
- Median Home Value: $908,129
- Best Time To Sell a Home: April
- Affordability Index: Low
- Days To Sell a House: 56
- Job Market: Fair
- Public School Ranking: 1
Location and weather
Cambridge is a part of the metropolitan area of Boston, located across the Charles River. Cambridge is home to two well-known prestigious universities; Harvard University and the Massachusetts Institute of Technology (MIT). Cambridge is in Middlesex county and is considered one of the best places to live in Massachusetts. Founded in 1630, Cambridge has long been known as one of the nation's intellectual centers. Brick buildings line the streets and campuses in this breathtaking, urban college city.
The summers are humid and temperate in Cambridge, while the winters are cold and wet. Summer temperatures are in the 70's, with lows in the high 60's. The winter temperatures are in the low 40's, with low temperatures in the mid-20's.
Population, job market and cost of living
The population of Cambridge in 2023 is 122,375, with a growth rate of 1.09%.
The job growth has decreased by -9.06% and in ten years, is predicted to have increased by 42.38%. The biggest employers are in science, technological companies, and privately owned institutions. EF Education First, Harvard University, Yumanity Therapeutics, Sanofi Genzyme and Beth Israel Lahey Health are Cambridge's top employers.
With prestigious universities, upscale college culture, museums, art galleries and art festivals, Cambridge is an attractive place for anyone to live and work.
Cambridge real estate market details
- East Cambridge
- Neighborhood Nine
- North Cambridge
There has been a -3.5% decrease in median home value over the last year. As of 2023, the median home value is $908,129.
The best time to sell a home for the highest valued sale is during April. For the quickest sale, homeowners should sell in June.
The top ranked public schools are John M Tobin, Martin Luther King Junior, Maria L Baldwin, Cambridge Rindge and Latin Elementary School, Benjamin Banneker Charter Public School. This information is based on data measuring academic performance and equity.