Home prices
The median home in Somerville costs $664,700. It is approximately $179,180 (36%) higher in comparison to its nearby areas.It is roughly $447,200 (205%) higher in comparison to the entire nation, and it is roughly $132,000 (24%) higher in comparison to the city of Boston.
Rents
Somerville's median rent is $1,874 per month. In comparison to nearby areas this is about $176 (10%) higher.It is approximately $812 (76%) higher compared to the nation as a whole, and is approximately $254 (15%) higher in comparison to the city of Boston.
Nearby places
Cambridge
Cambridge is Somerville's neighbor to the southwest. Its real estate prices are a little more expensive. The price of the median home in Cambridge is $768,300, which is $103,600 (13%) higher than Somerville. Rent there is somewhat more expensive. Cambridge's median monthly rent is $2,221, which is $347 (15%) higher than Somerville.
Medford
Medford is Somerville's neighbor to the north. Housing prices there are significantly less expensive. The median home in Medford is valued at $500,800, which is $163,900 (32%) lower than Somerville. Rent there is pretty similar. Medford's median monthly rent is $1,817, which is $57 (3%) lower than Somerville.
Everett
Everett is Somerville's neighbor to the northeast. Its real estate prices are substantially less expensive. The median home in Everett costs $405,800, which works out to $258,900 (63%) lower than Somerville. The rent there is a bit less expensive. The median rent in Everett is $1,454 per month, which comes out to $420 (28%) lower than Somerville.
Chelsea
Chelsea is approximately 3 miles east from Somerville. Its real estate prices are a lot less expensive. The median home in Chelsea costs $350,800, which is $313,900 (89%) lower than Somerville. Rents there are significantly less expensive. In Chelsea the median monthly rent is $1,419, which comes out to $455 (32%) lower than Somerville.
Malden
Malden is about 3 miles northeast of Somerville. The real estate prices there are substantially less expensive. The median home value in Malden is $401,900, which is $262,800 (65%) lower than Somerville. Rents there are a bit less expensive. In Malden the median monthly rent is $1,577, which is $297 (18%) lower than Somerville.
