Quick facts: Worcester, MA

Quick Facts

118.7
Cost of Living
above US average
205,319
Population
22.84
Crime Rate per 1000
below US average
$63,011
Median Income
below US average
$525,000
Median House Price
above US average
$2718.48
Average Rent
above US average
12%
Poverty Rate
above US average
4.8%
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 $63,011.

🏠

Income Needed to Buy

βœ— Stretch
$165k/year
Based on $525,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $165k vs median $63,011
🏒

Income Needed to Rent

⚠ Stretch
$117k/year
Based on $2718.48/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $117k vs median $63,011
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Worcester, MA

Worcester, Massachusetts, is the second-largest city in New England, located in the heart of the Commonwealth. Known for its rich industrial history, Worcester has transformed into a vibrant cultural and educational hub. The city is home to several colleges and universities, including Worcester Polytechnic Institute (WPI) and Clark University, making it a significant center for education and innovation. Culturally, Worcester boasts a diverse array of museums, theaters, and galleries, including the Worcester Art Museum and the Hanover Theatre for the Performing Arts. The city celebrates a rich heritage through various festivals and events, such as the Worcester Music Festival and the Massachusetts Film Festival. Nature enthusiasts can enjoy the city's parks and recreational areas, including Green Hill Park and the Worcester Common, which provide ample opportunities for outdoor activities. The city’s location also offers easy access to both Boston and Providence, enhancing its appeal as a commuter town. Worcester's culinary scene is thriving, with an eclectic mix of restaurants that reflect the city's diverse population, serving everything from classic New England fare to international cuisine. Overall, Worcester is a blend of history, education, culture, and community.

πŸ” Search & Compare Places

First Location πŸ“