2016 Cambridge Housing Profile Now Available

The City of Cambridge has released the 2016 Housing Profile report detailing cost, availability, and affordability trends as well as demographic and economic drivers related to the Cambridge housing market through 2016. Incorporating data from a wide range of sources, the Profile provides a statistical and graphical overview of the city’s housing landscape and recent trends.

The profile presents information about existing housing stock in the city, details development trends, and examines the market for home sales, mortgages and foreclosures. User friendly charts and maps visualize how rents are affected by a unit’s proximity to public transit and the scale of the rapidly growing market for short term rentals. The report concludes with a snapshot of housing affordability in Cambridge and its relation to occupant incomes.

Key data points of interest include:

• Cambridge has over 52,800 total housing units as of June 2016
• Cambridge experienced a net increase of 530 affordable housing units between 2011 and 2016
• 600 units were converted to condominiums between 2010 and 2015
• The median price for a condominium was $612,000 in 2015
• Median prices for one, two and three family homes were each over $1 million in 2015

A PDF version of the profile is now available on the City’s website and more detailed data related to the housing market will be added to the City’s Open Data website in the coming months. For questions or comments about the data in this report, contact Cliff Cook, Planning Information Manager, at ccook@cambridgema.gov or 617/349-4656. For additional details about housing in the City of Cambridge, visit www.cambridgema.gov/housing