Apartments in Vernon Hill Worcester

Worcester:
May Rent Report

Welcome to the May 2024 Worcester Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the Worcester rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Worcester and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Worcester average rent prices in the chart below.

May Prices: Worcester vs. Surrounding Areas

Rent Prices in Worcester and Surrounding Areas

Rent prices have increased in Worcester over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 5 of the Worcester suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

• Rent increased in Westborough, MA, Hudson, MA, Leominster, MA, Gardner, MA, Northborough, MA .

• Rent decreased in Marlborough, MA, Shrewsbury, MA.

• 2 suburbs are currently priced higher than the city of Worcester.

• 5 suburbs are currently priced lower than the city of Worcester.

Data set for Worcester and suburbs

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.