Real Estate Investing in Worcester, Massachusetts (01602)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01602 (Worcester, MA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Worcester, MA (01602)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 01602 Worcester
ZIP 01602 in Worcester, MA carries a impressive set of headwinds. Home values near $462K and rents of $2,334/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 01602 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 01602's metrics run below Worcester County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A solid renter share of 39% in 01602 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
New investors are better served looking at Worcester's stable or hybrid ZIPs before stepping into 01602. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Worcester:
Property Strategy for 01602
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $362,751 | $2,240 | 4.4% | +8.8% | $181,376 |
| 3BR | $443,510 | $2,780 | 4.5% | +8.4% | $147,837 |
| 4BR | $510,440 | $3,080 | 4.3% | +8.1% | $127,610 |
| 5BR | $615,307 | — | — | +8.5% | $123,061 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 01602 Compare?
| Metric | 01602 | Worcester | Worcester, MA-CT | Massachusetts |
|---|---|---|---|---|
| Home Value | $461,509 | $196,107 | N/A | $645,115 |
| 5-Year CAGR | 5.9% | 6.4% | N/A | 7.0% |
| Avg Rent | $2,334 | $2,161 | N/A | - |
| Cap Rate | 3.9% | 4.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 01602 (Worcester, MA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 01602 (Worcester, MA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Worcester County
Manage rentals here? List your business →Ruane Property Management LLC offers commercial and residential property management services. summary from their website
AP Services MA offers services to build, manage, and maintain properties. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $461,509 |
| Monthly Rent | $2,334 |
| Price-to-Rent | 16.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 3.9% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | +0.3% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). 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 01602
Population: 25,791
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 01602
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Canterbury
Chandler Elementary Community
Claremont Academy
Columbus Park
Elm Park Community
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
Frequently Asked Questions
What price range are homes in Worcester, MA?
In Worcester, MA the median home value sits at $462K. Against the broader MA market, that reads as reasonable for most investors.
Can owner-occupants cash flow in Worcester, MA?
House hacking in Worcester, MA is a challenging. With home values around $462K and rents at $2,334/mo, owner-occupants can offset a meaningful share of PITI.
Is the tenant base reliable in Worcester, MA?
Tenant quality in Worcester, MA ranks as solid. Landlords generally report stable occupancy at market rents of $2,334/mo.
Are landlord laws favorable in Worcester, MA?
For rental operators, Worcester, MA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
What monthly rent should investors expect in Worcester, MA?
Worcester, MA rentals go for roughly $2,334/mo a month. That puts gross yield in solid territory relative to $462K acquisition costs.
You know 01602 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 01602 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 01602 ranks in Worcester, MA-CT
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 01602 (Worcester)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 01602 (Worcester, MA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.