Quick facts: New bedford, MA

Quick Facts

110.5
Cost of Living
above US average
100,682
Population
22.02
Crime Rate per 1000
below US average
$54,604
Median Income
below US average
$533,000
Median House Price
above US average
$2098.59
Average Rent
above US average
15%
Poverty Rate
above US average
5.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $54,604.

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Income Needed to Buy

βœ— Stretch
$167k/year
Based on $533,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $167k vs median $54,604
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Income Needed to Rent

⚠ Stretch
$90k/year
Based on $2098.59/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $90k vs median $54,604
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for New bedford, MA

New Bedford, located in Bristol County, Massachusetts, is a historic city renowned for its rich maritime heritage and vibrant cultural scene. Once a leading whaling port in the 19th century, it has evolved into a thriving hub for fishing, tourism, and the arts. The city's waterfront is dotted with picturesque parks and bustling piers, offering a glimpse into its seafaring past. Visitors can explore the New Bedford Whaling Museum, which showcases the city’s whaling history and its significance to American maritime stories. The city's diverse neighborhoods boast an array of restaurants serving fresh seafood and international cuisine, reflecting its multicultural population. New Bedford is also home to several art galleries, the Zeiterion Performing Arts Center, and annual events like the New Bedford Folk Festival, celebrating its artistic community. With its charming streets, vibrant waterfront, and significant historical sites, New Bedford offers a unique blend of cultural experiences, making it a fascinating destination to explore.

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