Real Estate Investing in Worcester, Massachusetts (01606)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01606 (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 (01606)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 01606 Worcester
The 01606 ZIP covers a section of Worcester that demands careful diligence. Prices near $448K look accessible, but the work to make a deal cash flow is real.
In practical terms, the numbers look inviting — $448K purchase price, 0.0% nominal cap — the work to hit that pro forma in 01606 is substantial and deserves full respect.
Statewide comparisons place 01606 among MA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 01606 ZIP's population of 22,269 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
Strategically, 01606 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 Worcester:
Property Strategy for 01606
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $269,566 | $1,730 | 4.6% | +9.3% | $269,566 |
| 2BR | $380,187 | $2,220 | 4.2% | +8.5% | $190,094 |
| 3BR | $445,571 | $2,750 | 4.4% | +8.0% | $148,524 |
| 4BR | $495,719 | $3,050 | 4.4% | +7.8% | $123,930 |
| 5BR | $538,122 | — | — | +8.1% | $107,624 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 01606 Compare?
| Metric | 01606 | Worcester | Worcester, MA-CT | Massachusetts |
|---|---|---|---|---|
| Home Value | $447,915 | $196,107 | N/A | $645,115 |
| 5-Year CAGR | 5.4% | 6.4% | N/A | 7.0% |
| Avg Rent | $2,341 | $2,161 | N/A | - |
| Cap Rate | 4.1% | 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 01606 (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 | $447,915 |
| Monthly Rent | $2,341 |
| Price-to-Rent | 16.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). 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 01606
Population: 22,269
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 01606
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Chandler Elementary Community
City View
Elm Park Community
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
Investor Insight: With 2,709 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much should I expect to pay for a home in Worcester, MA?
Typical homes in Worcester, MA go for around $448K. The 5-year CAGR of 0.0% steady price movement.
What is the tenant pool like in Worcester, MA?
The tenant pool in Worcester, MA is solid, supported by local employment and population fundamentals. Rents of $2,341/mo are well-absorbed by the market.
Is Worcester, MA a smart market for rental property?
With a 3.0/5 investability score, Worcester, MA ranks as a solid market for rental property investors. Median prices of $448K and rents of $2,341/mo drive the underlying numbers.
Is Worcester, MA landlord-friendly?
MA law tenant-protective for landlords, and Worcester inherits those rules. Investors should still review local ordinances for rental licensing.
What is the best play in Worcester, MA?
Worcester, MA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($448K prices, $2,341/mo rents) make it a reasonable choice.
You know 01606 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 01606 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 01606 ranks in Worcester, MA-CT
Every ZIP in this metro, ranked. Free.
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