The 01201 zip code in Pittsfield tops our ranking of the most affordable places to live in Massachusetts.
We looked at 248 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Massachusetts
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Pittsfield 🥇 | 100 | $289,631 | $1,569 |
| 2 | Springfield🥈 | 93.8 | $295,168 | $2,664 |
| 3 | Millbury 🥉 | 87.6 | $469,853 | $2,096 |
| 4 | Wilbraham | 87.3 | $440,535 | $2,664 |
| 5 | South Hadley | 87.1 | $363,281 | $2,664 |
| 6 | Bellingham | 85.7 | $495,839 | $2,411 |
| 7 | North Adams | 84.6 | $240,549 | $2,664 |
| 8 | Agawam | 84.4 | $320,297 | $2,664 |
| 9 | East Longmeadow | 83.3 | $395,951 | $2,664 |
| 10 | Chicopee | 82.5 | $304,201 | $2,664 |
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1. Pittsfield
Here's why the 01201 zip code in Pittsfield is Massachusetts's most affordable place to live.
🔎 Key data about Pittsfield
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100 | No. 1 | N/A |
| Median home value | $289,631[1] | No. 8 | -$376,986.29 |
| Home affordability ratio | 4.3 | No. 18 | -2.2 |
| Home value five-year change | 62.2%[2] | No. 217 | 21.5% |
| Home value one-year forecast | 0.5%[3] | No. 239 | 1.6% |
| Rental costs | $1,569[4] | No. 3 | -$1,095 |
| Rent affordability ratio | 2.33% | No. 56 | -0.3% |
| Median household income | $67,262[5] | No. 210 | -$35,746 |
| Property taxes | $3,680[6] | No. 36 | -$1,944 |
| Energy costs | $0.21 kWh[7] | No. 1 | -$0.01 |
Pittsfield's 01201 zip code is the cheapest place to live in Massachusetts, leading the 248 markets we evaluated.
The median home value is $289,631, making it the 8th-cheapest housing market in the state. Forecasts project a 0.5% change in home values in the next year. Rent in the zip code averages $1,569 per month, which is the 56th cheapest amount in Massachusetts.
The median property tax for homeowners in Pittsfield is $3,680 per household, the No. 36 ranked market in Massachusetts.
Residents pay $0.21 per kWh of electricity, which ranks No. 1 among Massachusetts markets.
2. Springfield
The 01118 zip code is the 2nd-cheapest place to live in Massachusetts.
🔎 Key data about Springfield
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.8 | No. 2 | N/A |
| Median home value | $295,168[8] | No. 10 | -$371,449.76 |
| Home affordability ratio | 3.8 | No. 4 | -2.7 |
| Home value five-year change | 61.9%[9] | No. 212 | 21.2% |
| Home value one-year forecast | -1.0%[10] | No. 155 | 0.1% |
| Rental costs | $2,664[11] | No. 77 | $0 |
| Rent affordability ratio | 2.59% | No. 82 | 0.0% |
| Median household income | $78,354[12] | No. 185 | -$24,654 |
| Property taxes | $3,810[13] | No. 45 | -$1,814 |
| Energy costs | $0.21 kWh[14] | No. 1 | -$0.01 |
Springfield's 01118 zip code has a median home value of $295,168, which is the 155th-cheapest housing market in Massachusetts. You can rent for an average of $2,664 per month. That's the 77th-cheapest price in the state.
The average household income in the zip code is $78,354, which ranks 185th-highest in the state.
Homeowners in Springfield pay a median property tax of $3,810 per year, making it the 45th-most affordable market in Massachusetts.
Springfield ranks No. 1 among Massachusetts energy markets. You'll pay $0.21 per kWh of electricity.
3. Millbury
The 3rd-cheapest place to live in Massachusetts is Millbury's 01527 zip code.
🔎 Key data about Millbury
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 87.6 | No. 3 | N/A |
| Median home value | $469,853[15] | No. 60 | -$196,765.03 |
| Home affordability ratio | 4.3 | No. 17 | -2.2 |
| Home value five-year change | 51.3%[16] | No. 164 | 10.6% |
| Home value one-year forecast | -0.1%[17] | No. 210 | 1.0% |
| Rental costs | $2,096[18] | No. 23 | -$568 |
| Rent affordability ratio | 1.92% | No. 26 | -0.7% |
| Median household income | $109,119[19] | No. 112 | $6,111 |
| Property taxes | $4,979[20] | No. 113 | -$645 |
| Energy costs | $0.21 kWh[21] | No. 1 | -$0.01 |
The No. 60 cheapest housing in Massachusetts is Millbury's 01527 zip code, with a median home value of $469,853. Rents in the market average $2,096 per month, making it the 23rd-most affordable rental market in the state.
The median property tax for households in Millbury is $4,979, which makes it the 113th-cheapest place in Massachusetts. Millbury ranks No. 1 among Massachusetts markets by energy costs. Residents pay $0.21 per kWh of electricity.
4. Wilbraham
The 01095 zip code in Wilbraham comes in at No. 4 on our list of the cheapest places to live in Massachusetts.
🔎 Key data about Wilbraham
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 87.3 | No. 4 | N/A |
| Median home value | $440,535[22] | No. 52 | -$226,082.58 |
| Home affordability ratio | 3.5 | No. 1 | -3.0 |
| Home value five-year change | 44.5%[23] | No. 91 | 3.8% |
| Home value one-year forecast | -0.9%[24] | No. 173 | 0.2% |
| Rental costs | $2,664[25] | No. 77 | $0 |
| Rent affordability ratio | 2.59% | No. 82 | 0.0% |
| Median household income | $126,689[26] | No. 67 | $23,681 |
| Property taxes | $6,493[27] | No. 169 | $869 |
| Energy costs | $0.21 kWh[28] | No. 1 | -$0.01 |
The No. 52 cheapest housing market in Massachusetts is Wilbraham's 01095 zip code, where the median home value is $440,535. Renters here pay an average of $2,664 per month.
When it comes to energy costs, Wilbraham ranks 1st among Massachusetts markets. Residents pay $0.21 per kWh of electricity.
The median property tax for households in the zip code is $6,493, which makes it the 169th-cheapest market in Massachusetts.
5. South Hadley
The 01075 zip code in South Hadley ranks No. 5 among Massachusetts's most affordable places to live.
🔎 Key data about South Hadley
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 87.1 | No. 5 | N/A |
| Median home value | $363,281[29] | No. 24 | -$303,337.00 |
| Home affordability ratio | 3.9 | No. 5 | -2.6 |
| Home value five-year change | 44.1%[30] | No. 86 | 3.4% |
| Home value one-year forecast | -0.9%[31] | No. 173 | 0.2% |
| Rental costs | $2,664[32] | No. 77 | $0 |
| Rent affordability ratio | 2.59% | No. 82 | 0.0% |
| Median household income | $92,740[33] | No. 150 | -$10,268 |
| Property taxes | $4,990[34] | No. 114 | -$634 |
| Energy costs | $0.21 kWh[35] | No. 1 | -$0.01 |
South Hadley's 01075 zip code has a median home value of $363,281, the 24th-cheapest market in the state. Forecasts project a -0.9% change in home values in the next year.
The median property tax per household in South Hadley is $4,990. It's the 114th-cheapest market by tax rate in Massachusetts.
6. Bellingham
The No. 6 most affordable place to live in Massachusetts is the 02019 zip code.
🔎 Key data about Bellingham
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.7 | No. 6 | N/A |
| Median home value | $495,839[36] | No. 71 | -$170,778.67 |
| Home affordability ratio | 4.3 | No. 15 | -2.2 |
| Home value five-year change | 44.2%[37] | No. 88 | 3.5% |
| Home value one-year forecast | -1.5%[38] | No. 74 | -0.4% |
| Rental costs | $2,411[39] | No. 44 | -$253 |
| Rent affordability ratio | 2.08% | No. 39 | -0.5% |
| Median household income | $116,152[40] | No. 98 | $13,144 |
| Property taxes | $4,643[41] | No. 87 | -$981 |
| Energy costs | $0.22 kWh[42] | No. 112 | $0.00 |
The back half of our top 10 kicks off with Bellingham's 02019 zip code, which has the 71st-cheapest home values in Massachusetts. The median home value is $495,839. Rents average $2,411 per month, making it the 44th-most affordable rental market in the state.
Residents pay $0.22 per kWh of electricity. It's the 112th-cheapest energy market.
7. North Adams
North Adams's 01247 zip code is the 7th-cheapest place to live in Massachusetts.
🔎 Key data about North Adams
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.6 | No. 7 | N/A |
| Median home value | $240,549[43] | No. 2 | -$426,068.49 |
| Home affordability ratio | 4.5 | No. 27 | -2.0 |
| Home value five-year change | 65.9%[44] | No. 227 | 25.2% |
| Home value one-year forecast | 0.5%[45] | No. 239 | 1.6% |
| Rental costs | $2,664[46] | No. 77 | $0 |
| Rent affordability ratio | 2.59% | No. 82 | 0.0% |
| Median household income | $53,692[47] | No. 228 | -$49,316 |
| Property taxes | $2,733[48] | No. 5 | -$2,891 |
| Energy costs | $0.21 kWh[49] | No. 1 | -$0.01 |
You'll find the 2nd-cheapest home values in Massachusetts in North Adams's 01247 zip code. The median value: $240,549. Renters in North Adams pay an average of $2,664 per month.
Homeowners in North Adams pay a median property tax of $2,733 per year, which is Massachusetts's 5th-most affordable market.
The average household income is $53,692, which ranks 228th-highest in the state.
8. Agawam
The 8th-cheapest place to live in Massachusetts is Agawam's 01001 zip code.
🔎 Key data about Agawam
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.4 | No. 8 | N/A |
| Median home value | $320,297[50] | No. 15 | -$346,320.72 |
| Home affordability ratio | 4.4 | No. 21 | -2.1 |
| Home value five-year change | 46.8%[51] | No. 123 | 6.1% |
| Home value one-year forecast | -0.9%[52] | No. 173 | 0.2% |
| Rental costs | $2,664[53] | No. 77 | $0 |
| Rent affordability ratio | 2.59% | No. 82 | 0.0% |
| Median household income | $73,398[54] | No. 196 | -$29,610 |
| Property taxes | $3,647[55] | No. 34 | -$1,977 |
| Energy costs | $0.22 kWh[56] | No. 99 | $0.00 |
The 15th-cheapest housing market in Massachusetts is Agawam's 01001 zip code, with a median home value of $320,297. Renters pay an average of $2,664 per month, the No. 77 rental market in the state.
The median property tax for households in Agawam is $3,647, which makes it the 34th-cheapest place in Massachusetts. The average household income of $73,398 ranks 196th.
9. East Longmeadow
East Longmeadow's 01028 zip code sneaks into the top ten of Massachusetts's most affordable places to live.
🔎 Key data about East Longmeadow
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 83.3 | No. 9 | N/A |
| Median home value | $395,951[57] | No. 31 | -$270,666.29 |
| Home affordability ratio | 3.9 | No. 6 | -2.5 |
| Home value five-year change | 42.2%[58] | No. 70 | 1.5% |
| Home value one-year forecast | -0.9%[59] | No. 173 | 0.2% |
| Rental costs | $2,664[60] | No. 77 | $0 |
| Rent affordability ratio | 2.59% | No. 82 | 0.0% |
| Median household income | $100,610[61] | No. 132 | -$2,398 |
| Property taxes | $6,164[62] | No. 155 | $540 |
| Energy costs | $0.21 kWh[63] | No. 1 | -$0.01 |
The 31st-cheapest housing market in Massachusetts is East Longmeadow's 01028 zip code, where the median home value is $395,951. Renters pay an average of $2,664 per month. It's the state's 77th-cheapest rental market.
The median property tax for households within the zip code is $6,164, which makes it the 155th-cheapest property tax rate in Massachusetts.
10. Chicopee
The final spot on our list of the most affordable places to live in Massachusetts goes to the 01020 zip code in Chicopee.
🔎 Key data about Chicopee
| Data point | Value | Rank (out of 248 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 82.5 | No. 10 | N/A |
| Median home value | $304,201[64] | No. 12 | -$362,416.50 |
| Home affordability ratio | 4.5 | No. 28 | -2.0 |
| Home value five-year change | 52.4%[65] | No. 176 | 11.7% |
| Home value one-year forecast | -1.0%[66] | No. 155 | 0.1% |
| Rental costs | $2,664[67] | No. 77 | $0 |
| Rent affordability ratio | 2.59% | No. 82 | 0.0% |
| Median household income | $67,617[68] | No. 208 | -$35,391 |
| Property taxes | $3,608[69] | No. 31 | -$2,016 |
| Energy costs | $0.22 kWh[70] | No. 99 | $0.00 |
The 12th-most affordable market in Massachusetts is Chicopee's 01020 zip code. The median home value is $304,201. Rent in the market costs $2,664 per month on average, making it the 77th-most affordable rental market in Massachusetts.
The median property tax for households in Chicopee is $3,608, which is the 31st-cheapest property tax rate in the state.
Chicopee ranks No. 99 among Massachusetts markets by energy costs, with households paying $0.22 per kWh of electricity.
How we ranked the most affordable places in Massachusetts
We evaluated 248 zip codes in Massachusetts with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Massachusetts, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Massachusetts average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Massachusetts average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
