Real Estate Investing in Cambridge, Massachusetts (02138)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02138 (Cambridge, MA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.3% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 29.1 — hard to cash-flow at these prices.
What’s happening in Cambridge, MA (02138)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02138 Cambridge
Not every below-median market is a bargain. Cambridge's 02138 ZIP stands at signals that favor experienced operators who can absorb the risk $1.2M pricing implies.
Rent of $3,314/mo on a $1.2M basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 02138 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 02138 among MA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A sturdy renter share of 61% in 02138 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
tilts toward 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 Cambridge:
Property Strategy for 02138
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $628,656 | $3,560 | 4.1% | +1.2% | $628,656 |
| 2BR | $909,840 | $4,230 | 3.3% | +2.2% | $454,920 |
| 3BR | $1,620,542 | $5,070 | 2.3% | +4.7% | $540,181 |
| 4BR | $2,470,544 | $5,600 | 1.6% | +4.1% | $617,636 |
| 5BR | $4,214,237 | — | — | +6.6% | $842,847 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02138 Compare?
| Metric | 02138 | Cambridge | Massachusetts |
|---|---|---|---|
| Home Value | $1,157,911 | $1,118,707 | $645,115 |
| 5-Year CAGR | 2.2% | 2.5% | 7.0% |
| Avg Rent | $3,314 | $3,626 | - |
| Cap Rate | 2.2% | 2.6% | - |
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 02138 (Cambridge, MA). Anonymous, moderated, never written by AI.
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Property managers serving Middlesex County
Manage rentals here? List your business →Green Ocean Property Management offers investment property management and condo association management services in Boston and surrounding areas like Allston, Brighton, Cambridge, and Quincy. summary from their website
McDonough Property Management offers full-service property management and HOA management in the Greater Boston Area, covering maintenance, inspections, legal compliance, and communication. summary from their website
New England Property Management & Maintenance offers property management for multi/single-family homes, apartments, rental properties, and condo associations in Brookline, MA and Cambridge, MA. 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 | $1,157,911 |
| Monthly Rent | $3,314 |
| Price-to-Rent | 29.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 4.5% |
📈 Home Appreciation
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +2.2% ▲ |
| 10-Year CAGR | +3.4% ▲ |
🏠 Rent Trends
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +5.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). 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 02138
Population: 38,077
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 02138
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Amigos School
Brighton High School
Cambridge Street Upper School
Cunniff
Daniel Butler
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 kind of market is Cambridge, MA for investors?
Cambridge, MA records an investability rating of 3.0/5, with median home values near $1.2M and average rents around $3,314/mo. That combination puts it in the sturdy tier for investor interest.
Does house hacking make sense in Cambridge, MA?
Cambridge, MA is a a tougher market for house hackers. FHA or conventional owner-occupant buyers find the $1.2M price point reasonable to enter.
Do rentals sit vacant long in Cambridge, MA?
Vacancy risk in Cambridge, MA is elevated. That supports predictable cash flow for typical rental holds.
What strategy should investors use in Cambridge, MA?
The best-fit strategy in Cambridge, MA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How much is rent in Cambridge, MA?
Expect rents around $3,314/mo per month in Cambridge, MA. With home values at $1.2M, the yield math works out to reasonable levels for rental investors.
You know 02138 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02138 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 02138 ranks in Boston-Cambridge-Newton, MA-NH
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