Real Estate Investing in Boston, Massachusetts (02215)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02215 (Boston, MA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Elevated vacancy: 9.9% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Boston, MA (02215)?
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Market Analysis: 02215 Boston
The 02215 ZIP in Boston, MA is a local-operator market. Outside capital chasing a $702K entry has to pair deep knowledge with the discount.
Rent of $3,414/mo on a $702K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 02215 sits below the stated 0.0% once reality is priced in.
Within MA, ZIP 02215 trails on several market indicators that neighboring Suffolk County submarkets outperform. The gap is real and impressive enough to shape underwriting.
A impressive renter share of 91% in 02215 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 02215 is an operator game, not a passive one. Meanwhile, entry prices of $702K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Boston:
Property Strategy for 02215
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $584,092 | $3,220 | 4.0% | +1.4% | $584,092 |
| 2BR | $882,920 | $3,820 | 3.1% | +0.5% | $441,460 |
| 3BR | $943,504 | $4,580 | 3.5% | -2.1% | $314,501 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02215 Compare?
| Metric | 02215 | Boston | Massachusetts |
|---|---|---|---|
| Home Value | $702,388 | $852,655 | $645,115 |
| 5-Year CAGR | 1.6% | 2.0% | 7.0% |
| Avg Rent | $3,414 | $3,489 | - |
| Cap Rate | 3.8% | 3.1% | - |
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 02215 (Boston, MA). Anonymous, moderated, never written by AI.
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Property managers serving Suffolk County
Manage rentals here? List your business →CHARLESGATE Property Management provides full-service, customized property management for condominiums, multifamily properties, and investment portfolios in the Greater Boston Area. summary from their website
First Realty Management provides real estate management services for condominiums and commercial properties. summary from their website
MerGo Group offers property management and vacation rental management services in the Boston Metro Area. 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 | $702,388 |
| Monthly Rent | $3,414 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | +0.1% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +1.6% ▲ |
| 10-Year CAGR | +3.7% ▲ |
🏠 Rent Trends
| 1-Year | +16.1% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +7.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). 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 02215
Population: 24,054
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 02215
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Amigos School
Blackstone Elementary School
Cambridge Street Upper School
Dearborn 6-12 STEM Academy
Ellis Elementary School
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
Is housing expensive in Boston, MA?
Boston, MA home values average about $702K. That price point suits investors targeting rentals with $3,414/mo in monthly income.
Is Boston, MA better for rentals, flips, or BRRRR?
Boston, MA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($702K prices, $3,414/mo rents) make it a reasonable choice.
How tight is the rental market in Boston, MA?
Boston, MA carries elevated vacancy risk. Expect steady absorption at market rents of $3,414/mo.
Is house hacking profitable in Boston, MA?
House hacking in Boston, MA is reasonable to execute. Prices around $702K and rents of $3,414/mo solid owner-occupant economics.
How landlord-friendly is Boston, MA?
Landlord-friendliness in Boston, MA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 02215 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02215 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 02215 ranks in Boston-Cambridge-Newton, MA-NH
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