01603, Worcester, MA

The 1603 zip code of Worcester, MA has a median home value of $183,000 and a median home equity value of $146,000. These values are significantly higher than the Massachusetts state median home value of $146,500 and the national median home value of $177,200. The 1603 zip code is also considerably wealthier than the rest of Worcester County, which has a median home value of $128,700.

One reason for the high values in the 1603 zip code is likely its proximity to Boston. The 1603 zip code has a population density of 1,898 people per square mile (711/km²), which is much higher than the statewide population density of 1,117 people per square mile (433/km²) or the national population density of 319 people per square mile (123/km²). This high population density may contribute to increased demand for housing and higher prices.

Another factor that may contribute to high home values in the 1603 zip code is its low unemployment rate. The unemployment rate in Worcester County was 3.9% in October 2016 compared to 4.1% statewide and 5% nationally. This lower unemployment rate may lead to increased demand for housing and higher prices as well as reduced competition for homes among potential buyers.