Home Values

01603 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$159,500

  • 8.7% 1-year change
  • 3.8% 1-year forecast

The median home value in 01603 is $159,500. 01603 home values have gone up 8.7% over the past year and Zillow predicts they will rise 3.8% within the next year. The median list price per square foot in 01603 is $122, which is lower than the Worcester average of $136. The median price of homes currently listed in 01603 is $150,000 while the median price of homes that sold is $120,000. The median rent price in 01603 is $1,000, which is lower than the Worcester median of $1,050.

Foreclosures will be a factor impacting home values in the next several years. In 01603 1.8 homes are foreclosed (per 10,000). This is lower than the Worcester value of 3.8 and also lower than the national value of 4.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 01603 is 12.3%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 01603 homeowners underwater on their mortgage is 37.0%, which is higher than Worcester at 29.8%.

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Relative ZHVI
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01603 Market Overview

Data through Oct 31, 2014
  • $159,500 ZHVI
  • 3.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $150,000 Median listing price
  • No recent data Median sale price
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01603 Market Health

Data through Oct 31, 2014
  • 4.3/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 37.0% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 12.3% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

1.8 homes 01603
3.8 homes Worcester
4.5 homes United States
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Nearby Zip Codes

Name Median ZHVI
01609 $251,100
01501 $215,100
01524 $211,000
Name Median ZHVI
01602 $194,700
01605 $182,600
01611 $181,900
Name Median ZHVI
01604 $174,100
01607 $161,000
01610 $132,500

Listings & Sales

Data through Oct 31, 2014
  • $122 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 52.0% Listings with price cut
27.3%
Sold below listing
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01603 Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $1,298 01603
    $1,384 Worcester
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,000 Rent list price
  • $0.87 Rent list price / sq ft
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