Real Estate Investing in Lenox, Massachusetts (01240)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01240 (Lenox, MA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 28.4% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 34.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lenox, MA (01240)?
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Market Analysis: 01240 Lenox
The 01240 ZIP covers a section of Lenox that demands careful diligence. Prices near $608K look accessible, but the work to make a deal cash flow is real.
The investment case in 01240 is resilient only for operators who understand what they are buying. A $608K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 01240 sits on the difficult end of the MA spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The 01240 ZIP's population of 5,024 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
Strategically, 01240 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Lenox:
Property Strategy for 01240
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $239,384 | $1,270 | 3.8% | +10.8% | $239,384 |
| 2BR | $354,252 | $1,630 | 3.3% | +8.7% | $177,126 |
| 3BR | $608,962 | $2,110 | 2.5% | +9.9% | $202,987 |
| 4BR | $737,518 | $2,600 | 2.5% | +10.3% | $184,380 |
| 5BR | $1,149,827 | — | — | +11.8% | $229,965 |
Market Trends
Home Value History (with trend line)
📊 How Does 01240 Compare?
| Metric | 01240 | Lenox | Pittsfield, MA | Massachusetts |
|---|---|---|---|---|
| Home Value | $608,390 | $608,390 | N/A | $645,115 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 7.0% |
| Avg Rent | $1,467 | $1,467 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 01240 (Lenox, MA). Anonymous, moderated, never written by AI.
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Property managers serving Berkshire County
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📊 Market Snapshot
| Home Value | $608,390 |
| Monthly Rent | $1,467 |
| Price-to-Rent | 34.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 01240
Population: 5,024
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 01240
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 625 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Lenox, MA a smart market for rental property?
With a 3.0/5 investability score, Lenox, MA ranks as a solid market for rental property investors. Median prices of $608K and rents of $1,467/mo drive the underlying numbers.
What are home prices like in Lenox, MA?
Median home price in Lenox, MA is near $608K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
How much rent can I charge in Lenox, MA?
Rents in Lenox, MA run near $1,467/mo. Compared with median home prices of $608K that produces solid gross yields for typical rentals.
Can owner-occupants cash flow in Lenox, MA?
Lenox, MA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $608K price point reasonable to enter.
What kind of vacancy should I budget for in Lenox, MA?
Lenox, MA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 01240 now. You don’t know where it ranks.
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How 01240 ranks in Pittsfield, MA
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