Real Estate Investing in New Bedford, Massachusetts (02740)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02740 (New Bedford, 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 New Bedford, MA (02740)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02740 New Bedford
ZIP 02740 inside Bristol County looks affordable on the surface — median value of $432K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 02740 is notable only for operators who understand what they are buying. A $432K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 02740 sits on the difficult end of the MA spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
A robust renter share of 62% in 02740 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 02740 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in New Bedford:
Property Strategy for 02740
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $366,475 | $1,470 | 2.9% | +9.7% | $183,238 |
| 3BR | $412,895 | $1,760 | 3.1% | +9.1% | $137,632 |
| 4BR | $431,568 | $2,200 | 3.7% | +9.2% | $107,892 |
| 5BR | $524,865 | — | — | +10.1% | $104,973 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02740 Compare?
| Metric | 02740 | New Bedford | Massachusetts |
|---|---|---|---|
| Home Value | $431,800 | $298,232 | $645,115 |
| 5-Year CAGR | 6.5% | 6.7% | 7.0% |
| Avg Rent | $1,959 | $1,853 | - |
| Cap Rate | 3.5% | 3.2% | - |
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 02740 (New Bedford, MA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $431,800 |
| Monthly Rent | $1,959 |
| Price-to-Rent | 18.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 Rent Trends
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). 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 02740
Population: 46,336
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 02740
Schools in This ZIP Code
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 3,250 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is MA a landlord-friendly state?
The landlord environment in New Bedford, MA is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
Is New Bedford, MA a smart market for rental property?
With a 3.0/5 investability score, New Bedford, MA ranks as a solid market for rental property investors. Median prices of $432K and rents of $1,959/mo drive the underlying numbers.
What kind of tenants rent in New Bedford, MA?
New Bedford, MA offers a consistent renter base at the $1,959/mo rent level. Tenant turnover is reasonable for well-managed properties.
What are rental rates like in New Bedford, MA?
Rental rates in New Bedford, MA average $1,959/mo. Tenant demand and $432K home values make the yield look reasonable by investor standards.
How expensive is real estate in New Bedford, MA?
Median home price in New Bedford, MA is near $432K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
You know 02740 now. You don’t know where it ranks.
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How 02740 ranks in Providence-Warwick, RI-MA
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