Real Estate Investing in Worcester, Massachusetts (01604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01604 (Worcester, MA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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 (01604)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 01604 Worcester
Investors eyeing 01604 need to respect the fundamentals at play. Home values of $430K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 01604 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 01604 among MA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 01604 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Worcester:
Property Strategy for 01604
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $290,503 | $1,750 | 4.3% | +9.0% | $290,503 |
| 2BR | $347,486 | $2,250 | 4.7% | +9.4% | $173,743 |
| 3BR | $442,821 | $2,790 | 4.5% | +8.4% | $147,607 |
| 4BR | $494,707 | $3,090 | 4.5% | +8.0% | $123,677 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 01604 Compare?
| Metric | 01604 | Worcester | Worcester, MA-CT | Massachusetts |
|---|---|---|---|---|
| Home Value | $430,385 | $196,107 | N/A | $645,115 |
| 5-Year CAGR | 5.9% | 6.4% | N/A | 7.0% |
| Avg Rent | $2,174 | $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 01604 (Worcester, MA). Anonymous, moderated, never written by AI.
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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 | $430,385 |
| Monthly Rent | $2,174 |
| 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 | +3.6% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +6.6% ▲ |
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 01604
Population: 39,988
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 01604
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
City View
Claremont Academy
Woodland Academy
Forest Grove Middle
Francis J McGrath Elementary
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 is the typical rental rate in Worcester, MA?
Average rent in Worcester, MA is approximately $2,174/mo per month. Against $430K home values that yields a reasonable rent-to-price ratio.
What is the renter demographic in Worcester, MA?
Worcester, MA draws a reliable base of working renters. Demand at the $2,174/mo rent level is reasonable for standard single-family and small multi rentals.
What investment strategy works best in Worcester, MA?
For Worcester, MA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is it like being a landlord in Worcester, MA?
Worcester, MA falls under MA landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
What kind of vacancy should I budget for in Worcester, MA?
Worcester, MA sees elevated vacancy, which is reasonable relative to the broader MA rental market.
You know 01604 now. You don’t know where it ranks.
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How 01604 ranks in Worcester, MA-CT
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