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Zip Code 1604

Unknown (Zip code 01604 is Worcester, MA; 01020 is Chicopee, MA), MA • Worcester (if 01604) County

Real Estate Market Analysis

Q3 2025 Report
$443,717 (Worcester, 2025)
Median Home Value
~40,000 (Worcester 01604 est.)
Population
$54,000 (Worcester avg.)
Median Income
Average (statewide comparison)
School District Rating

Market Statistics

Property Values

$443,717 (Worcester, 2025)
Median Home Value
$1,800–$2,200 (estimate, Worcester)
Median Rent
$260–$300 (estimate, Worcester)
Price per Sq Ft

Market Performance

Home Appreciation7.8% YoY (Worcester, 2025)[1]
Market VelocityHomes go pending in 8–12 days (statewide)[2]
Foreclosure RateLow, but rising slightly with affordability pressures (statewide trend)[1]

Area Information

Area SizeUrban/suburban
CountyWorcester (if 01604)
Primary CityUnknown (Zip code 01604 is Worcester, MA; 01020 is Chicopee, MA)

Housing Profile

Housing Statistics

Total Housing Units~20,000 (Worcester, 01604 est.)
Owner Occupied~45% (Worcester avg.)
Rental Properties~55% (Worcester avg.)
Vacant Units5–7% (Worcester avg.)
New ConstructionModerate, mostly multi-family and infill[1]

Housing Types

Single-familyMulti-familyCondosApartments

Demographics

~40,000 (Worcester 01604 est.)
Population
34 (Worcester avg.)
Median Age
$54,000 (Worcester avg.)
Median Income
~95% (Worcester avg.)
Employment Rate
High school grad: 85%, Bachelor's+: 28% (Worcester avg.)
Education Levels
Mix of families, singles, and students
Family Composition

Education Quality

School District Performance

Average (statewide comparison)
District Rating
School DistrictWorcester Public Schools (if 01604)
Test ScoresSlightly below state average
Graduation Rates~80% (Worcester avg.)

Schools in Area

  • Grafton Street School
  • Burncoat High School
  • University Park Campus School

Economic Factors

Employment & Business

Job GrowthSteady, healthcare and education driven
Unemployment Rate~5% (Worcester avg.)
Business EnvironmentGrowing, especially in healthcare, biotech, and education
Commercial ActivityActive, with new retail and mixed-use developments

Major Employers

  • UMass Memorial Health
  • Worcester Public Schools
  • Hanover Insurance
  • Saint Vincent Hospital

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • • I-290
  • • MBTA Commuter Rail (Union Station)
  • • WRTA bus system

Utilities & Services

  • • National Grid (electric/gas)
  • • City water/sewer

Quality of Life

Safety & Environment

Moderate, higher than state average but improving

Urban, some air quality concerns but improving

Healthcare Access

  • • UMass Memorial Medical Center
  • • Saint Vincent Hospital

Development Trends

Planned Developments

  • Mixed-use projects near Union Station
  • New apartment complexes

Infrastructure Projects

  • • Road/bridge upgrades
  • • Expanded bus service

Investment Outlook

Growth Outlook

Positive, driven by population growth and urban revitalization

Investment Opportunities

  • • Multi-family rentals
  • • Value-add rehabs
  • • Mixed-use properties

Marketing Intelligence

Target Demographics

  • Young professionals
  • First-time buyers
  • Investors
  • Healthcare workers

Competitive Advantages

  • Lower prices than Boston/Cambridge
  • Strong rental demand
  • Urban amenities

Pricing Strategies

Competitive pricing below Boston suburbs, value-add positioning

Common Objections & Response Strategies

Objection: Crime rates higher than suburbs

Response Strategy:

Highlight improving trends, active neighborhood watch, and new police initiatives

Objection: Older housing stock

Response Strategy:

Emphasize renovation potential and historic charm

Objection: School ratings below state average

Response Strategy:

Showcase magnet and charter school options, and recent district improvements

Professional Recommendations

1

Focus on multi-family and value-add listings for investors

2

Highlight affordability and urban amenities for first-time buyers

3

Leverage local market data to address buyer concerns

4

Promote new developments and infrastructure improvements

5

Network with local employers and relocation services

Competitive Analysis

Comparable Markets

  • Springfield, MA
  • Lowell, MA
  • Providence, RI

Market Positioning

Affordable urban alternative to Boston/Cambridge

Competitive Advantages

  • Higher appreciation than Springfield
  • Lower entry price than Boston
  • Strong rental yields

Price Comparison

Worcester median $443K vs. Boston $739K and statewide $658K[1][2]

Investment Metrics

5.5%–7% (multi-family, Worcester est.)
Cap Rates
6%–7% gross (Worcester est.)
Rental Yields
16–18 (Worcester est.)
Price-to-Rent
Strong for well-located multi-family
Cash Flow
4–6% annually (2025–2027, Worcester est.)
Appreciation

Buyer Journey Insights

First-Time Buyers

Attracted by affordability, urban amenities, and down payment assistance

Move-Up Buyers

Seeking larger homes or better neighborhoods within city

Downsizers

Interested in condos and low-maintenance properties

Investors

Targeting multi-family and value-add opportunities for cash flow

Relocators

Drawn by job opportunities and lower cost of living

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

Related Market Intelligence

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Nearby Areas

Boston, MA

city

Adjacent location

$750,000

South End in Boston, MA

neighborhood

Adjacent location

$1,200,000