# Worcester Massachusetts Residential Rent and Rental Statistics

The **median monthly gross residential rent in Worcester, MA (the Worcester metro area) was $972 in 2015** according to the Census ACS survey.^{1} **Average gross rent in Worcester was $954 in 2015**. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Worcester median and average rent data will be released in September of 2017.

Data is also available below for Worcester rental vacancy rates, Worcester rent as a percent of median income and the fraction of renters in Worcester.

###
Real Gross Rent in Worcester Massachusetts (2015 dollars)^{2}

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US Median Gross Rent | $959 | +3.12% | +8.24% |

Massachusetts Median Gross Rent | $1,164 | +5.63% | +12.03% |

Worcester, MA Median Gross Rent | $972 | +4.74% | +8.60% |

## Worcester, MA Real Gross Rent Trends

At $972, real median gross rent in Worcester was at its highest level in 2015 since the series began in 2005. At $954, real average gross rent in Worcester was at its highest level in 2015 since the series began in 2005.

### Real Gross Rent in Worcester: Worcester MA Median, Worcester MA Average, Massachusetts Median, US Median

## Real Gross Rent History for Worcester

Date |
US Median |
Massachusetts Median |
Worcester, MA Median |
Worcester, MA Average |
---|---|---|---|---|

2015 | $959 | $1,164 | $972 | $954 |

2014 | $930 | $1,102 | $928 | $911 |

2013 | $898 | $1,069 | $907 | $911 |

2012 | $886 | $1,039 | $895 | $873 |

2011 | $887 | $1,053 | $879 | $863 |

2010 | $901 | $1,063 | $913 | $902 |

2009 | $905 | $1,061 | $913 | $911 |

2008 | $920 | $1,106 | $960 | $919 |

2007 | $874 | $1,048 | $906 | $849 |

2006 | $883 | $1,080 | $905 | $899 |

2005 | $858 | $1,063 | $926 | $892 |

## Worcester Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.^{3} **In 2015 the rental vacancy rate for Worcester Massachusetts was 3.99%** according to Census ACS data.

### Rental Vacancy Rate in Worcester Massachusetts

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 5.85% | -0.47% | -0.92% |

Massachusetts | 3.48% | -0.56% | -0.98% |

Worcester, MA | 3.99% | -2.84% | -1.67% |

## Trends in Worcester, MA Rental Vacancy Rate

The rental vacancy rate in Worcester peaked in 2005 at 10.35%. Since then it has fallen by 6.36% to 3.99%. Data records for this series originated in 2005.

### Rental Vacancy Rate: Worcester MA, Massachusetts, US

## Historical Rental Vacancy Rate data for Worcester

Date | US | Massachusetts | Worcester, MA |
---|---|---|---|

2015 | 5.85% | 3.48% | 3.99% |

2014 | 6.32% | 4.04% | 6.83% |

2013 | 6.49% | 4.61% | 6.92% |

2012 | 6.77% | 4.46% | 5.66% |

2011 | 7.40% | 4.76% | 7.19% |

2010 | 8.17% | 5.80% | 7.41% |

2009 | 8.43% | 5.83% | 6.80% |

2008 | 7.86% | 5.28% | 6.25% |

2007 | 7.87% | 6.20% | 7.90% |

2006 | 7.70% | 5.55% | 8.27% |

2005 | 7.74% | 5.58% | 10.35% |

## Rent as a Fraction of Income

Using median household income data for Worcester, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. **For Worcester, median monthly gross rent as a fraction of median household income was 17.83% in 2015** according to the ACS.

### Worcester Massachusetts Median Annual Rent as a Fraction of Median Household Income

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 20.63% | -0.26% | -0.02% |

Massachusetts | 19.78% | +0.57% | +0.75% |

Worcester, MA | 17.83% | +0.50% | +0.70% |

## Trends in Worcester, MA Rent as a Fraction of Income

Worcester renters paid 17.83% of median household income towards the median monthly gross rent in 2015. This is the highest fraction of median household income going to rent since the series originated in 2005.

### Fraction of Income towards Rent: Worcester MA, Massachusetts, US

## Historical Data for Annual Rent as a Fraction of Income in Worcester Massachusetts

Date | US | Massachusetts | Worcester, MA |
---|---|---|---|

2015 | 20.63% | 19.78% | 17.83% |

2014 | 20.89% | 19.21% | 17.32% |

2013 | 20.78% | 19.36% | 17.75% |

2012 | 20.65% | 19.03% | 17.13% |

2011 | 20.70% | 19.74% | 17.12% |

2010 | 20.50% | 19.51% | 17.00% |

2009 | 20.12% | 18.50% | 16.10% |

2008 | 19.00% | 18.18% | 15.43% |

2007 | 18.66% | 18.20% | 15.84% |

2006 | 18.90% | 18.67% | 15.91% |

2005 | 18.89% | 18.93% | 16.99% |

## Renter Fraction in Worcester Massachusetts

You can calculate the renter fraction in Worcester in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Worcester as a fraction of total Worcester households. **In 2015 34.72% of households were renters** according to Census ACS data.

### Worcester Fraction of Renters by Household Units

2015 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 36.97% | +0.07% | +0.88% |

Massachusetts | 38.28% | -0.12% | +0.52% |

Worcester, MA | 34.72% | -0.64% | -0.94% |

## Trends in the Worcester, MA Renter Fraction

The Worcester household renter fraction peaked in in 2012 at 35.66% and is now 0.94% below that level. The origin year for the series is 2005.

### Fraction of Renting Households: Worcester MA, Massachusetts, US

## History of Worcester Renter Fraction

Date | US | Massachusetts | Worcester, MA |
---|---|---|---|

2015 | 36.97% | 38.28% | 34.72% |

2014 | 36.90% | 38.40% | 35.36% |

2013 | 36.50% | 38.46% | 35.26% |

2012 | 36.09% | 37.76% | 35.66% |

2011 | 35.42% | 37.87% | 35.16% |

2010 | 34.65% | 37.77% | 34.69% |

2009 | 34.13% | 35.79% | 32.25% |

2008 | 33.36% | 35.46% | 31.93% |

2007 | 32.80% | 34.91% | 30.97% |

2006 | 32.73% | 35.08% | 31.51% |

2005 | 33.10% | 35.95% | 32.77% |

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩

2. Real dollars are calculated using the CPI-U less shelter series. ↩

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩