While Massachusetts is known for its high real estate prices, there are still pockets across the state where homes come at more affordable prices. For buyers who want to get into the market without breaking the bank, these areas offer opportunities to own a home without the million-dollar price tag.

Springfield: Affordable City Living with Potential

Springfield, located in western Massachusetts, is one of the most affordable cities in the state for homebuyers.

The median home price in Springfield often hovers around $200,000 to $250,000, significantly lower than the Boston metro area. The city offers a mix of single-family homes and multi-family properties, appealing to first-time buyers and investors. While some neighborhoods are undergoing revitalization, buyers should be aware that some areas may need renovation or upkeep.

Worcester: Growing City with Value

Worcester, Massachusetts’ second-largest city, combines urban amenities with more reasonable housing costs.

The median home price typically ranges between $300,000 and $350,000, depending on the neighborhood. With a growing economy, universities, and cultural attractions, Worcester appeals to those looking for a city lifestyle without Boston’s price tag. There are diverse housing options, including historic homes and newer developments.

Fall River: Coastal Affordability

Fall River, located along the South Coast, is another city where housing remains relatively affordable.

Median home prices are often between $200,000 and $275,000. The city has a rich history and waterfront appeal, though some areas still show signs of economic challenges. Buyers can find single-family homes and condos with reasonable price points.

Other Affordable Areas to Consider

New Bedford: Similar to Fall River, this coastal city offers homes in the $200,000 to $300,000 range. Pittsfield: In the Berkshires region, Pittsfield offers a small-town feel with homes priced around $180,000 to $250,000. Lawrence and Lowell: These cities north of Boston offer lower median home prices, typically between $250,000 and $325,000, with diverse housing stock.

What Makes These Markets More Affordable?

Location: Being farther from Boston’s urban core often means lower home prices. Economic factors: Some of these areas have experienced slower economic growth or industrial decline, affecting property values. Housing stock: Many homes are older and may require updates or repairs, lowering initial costs. Market demand: Lower demand compared to the Boston metro allows buyers to find better deals.

Is Affordable Housing a Good Investment?

While these markets offer more affordable entry points, buyers should research neighborhood trends, local economic developments, and potential renovation costs. Some areas may be poised for growth and appreciation, while others could remain stable but less dynamic.