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City · 39,908 residents · Suffolk County, Massachusetts

Chelsea , Massachusetts

In Chelsea, a typical home is worth $493,500 and typical rent is $1,956 a month. Compared with all of Suffolk County, the typical home value is 30% lower, typical household income is 25% lower, and the share of households that own their home is 10 points lower.

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  • Typical home value

    $493,500

    30% below the county

    12% below Massachusetts

    • Chelsea
    • Suffolk
    • Massachusetts

  • Typical rent

    $1,956a month

    8% below the county

    11% above Massachusetts

    • Chelsea
    • Suffolk
    • Massachusetts

  • Typical household income

    $72,179a year

    25% below the county

    31% below Massachusetts

    • Chelsea
    • Suffolk
    • Massachusetts

  • Households that own their home

    26%

    10 points below the county

    37 points below Massachusetts

    • Chelsea
    • Suffolk
    • Massachusetts

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$518,838
1.1% more than 12 months ago
Typical rent
$2,632 a month
1.8% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Chelsea is in Suffolk County. The FHA loan limit ($962,550 for a one-unit home), the fair market rents and the help on this page are those of all of Suffolk County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Chelsea apart

What this place has that others do not, from public data, most unusual first.

  1. Chelsea has the lowest homeownership rate of the 123 cities in Massachusetts with more than 5,000 people: 26%.

  2. The typical home in Chelsea is worth $493,500, 30% less than in Suffolk County as a whole ($705,800).

  3. The typical household income in Chelsea is $72,179, 25% less than in Suffolk County as a whole ($95,631).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Chelsea

What homes there are in Chelsea, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Chelsea, the apartment is the most common kind of home (44%), as in Suffolk County (45%).

Year built

Homes in Chelsea are older: the typical year built is 1941; in Suffolk County, 1949.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a HUD fair market rent of $3,008 for 2 bedrooms, at least 93% of rented homes in Chelsea sit below it.

With a mortgage

$2,608 a month

Suffolk County: $2,962 a month

Without a mortgage

$815 a month

Suffolk County: $1,046 a month

Owners with a mortgage

75%

Suffolk County: 70%

The typical cost for an owner with a mortgage in Chelsea is $2,608 a month, less than in Suffolk County ($2,962); without one, $815.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, home values in Chelsea rose at about the same pace as in Suffolk County: 41% against 42%.

Rents in Chelsea rose faster than in Suffolk County: 38% since 2015–2019, against 34%.

Here income did not keep up with housing: it rose 27%, while home values changed +41% and rent +38%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureChelseaSuffolk CountyMassachusettsUnited States
Rental vacancy Unreliable estimate4.5%3.5%5.5%
Homeowner vacancy Unreliable estimate1.1%0.6%0.9%
More than one person per room 12.9%4.2%2.3%3.4%
People per household 2.852.252.442.53
Drive alone 46%35%61%69%
Carpool 14%6%7%9%
Public transit 21%22%7%3%
Walk or bike 6%14%5%3%
Work from home 10%20%19%15%
Other means 3%2%2%2%
Typical commute 30 to 39 minutes30 to 39 minutes20 to 29 minutes20 to 29 minutes

More than one person per room: that is how 12.9% of households in Chelsea live, more than in Suffolk County (4.2%).

Households in Chelsea are bigger: 2.85 people on average; in Suffolk County, 2.25.

In Chelsea, 14% of workers share a car to get to work; in Suffolk County, 6%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Chelsea?

A typical home costs more than the typical income allows

We start with a typical home in Chelsea, worth $493,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 66% of the typical household income in Chelsea, which is $72,179 a year. For that payment to be 28% of income, a household would need to earn about $170,658 a year.

The calculator's FHA and conventional loan limits are those of all of Suffolk County.

Your numbers

Local data
$

Starts at the typical home value in Chelsea. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $17,273 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,982

at 7.18% · 30 years

Loan amount
$484,561
Total interest
$697,170
Paid off in
November 2056

Includes $8,334 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,684 a month

  • Tight

    $1,684 to $2,165 a month

  • Hard

    more than $2,165 a month

    Your payment · 66%

Compared with the typical household income in Chelsea ($72,179 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,982
Principal & interest$3,283
Property tax$276
Home insurance$206
FHA mortgage insurance (MIP)$218

You need at least $17,273 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Chelsea and Suffolk County

Chelsea is in Suffolk County, Massachusetts. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Chelsea's own numbers

Typical home value
$493,500
Typical monthly rent
$1,956
Typical yearly household income
$72,179
Households that own their home
26%
Effective property tax rate
0.67%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Suffolk County

FHA limit, one-unit home
$962,550
Conventional limit, one unit
$962,550
HUD fair market rent, 2 bedrooms
$3,008
Price change over 5 years (FHFA)
+35%
Homes in a high flood-risk zone
3.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Suffolk County.

Everything about Suffolk County

Buying

Buying a home in Chelsea

A typical home in Chelsea is worth $493,500: 30% below the county and 12% below Massachusetts. With the typical household income in Chelsea ($72,179 a year), a typical home costs 6.8 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Chelsea 6.8 years
  • Suffolk 7.4 years
  • Massachusetts 5.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Suffolk County

According to FHFA’s house price index, home prices in Suffolk County rose 87% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Suffolk County.

Period County Massachusetts U.S.
Last year (2025) +3.4% +3.7% +2.9%
5 years (2020–2025) +35% +49% +47%
10 years (2015–2025) +87% +87% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Chelsea next to Suffolk County, Massachusetts and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Chelsea $493,500
  • Suffolk $705,800
  • Massachusetts $562,100
  • United States $332,700
Typical monthly rent
  • Chelsea $1,956
  • Suffolk $2,129
  • Massachusetts $1,762
  • United States $1,413
Typical yearly household income
  • Chelsea $72,179
  • Suffolk $95,631
  • Massachusetts $103,960
  • United States $80,734
See the full table
Chelsea next to Suffolk County and Massachusetts
Measure Chelsea Suffolk County Massachusetts U.S.
Typical home value $493,500 $705,800 $562,100 $332,700
Typical monthly rent $1,956 $2,129 $1,762 $1,413
Typical yearly household income $72,179 $95,631 $103,960 $80,734
Households that own their home 26% 36% 63% 65%
Typical yearly property tax $3,321 $4,649 $5,992 $3,119
Effective property tax rate 0.67% 0.66% 1.07% 0.94%
Renters with high rent for their income 59% 52% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Suffolk County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Chelsea

For a typical $493,500 home in Chelsea, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Chelsea's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,982a month

    Least cash to close
    Down payment
    $17,273
    Cash to close
    $32,078
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $218

  • Conventional, 5% down $3,892a month

    Down payment
    $24,675
    Cash to close
    $39,480
    Rate
    7.18%
    Mortgage insurance
    PMI · $234

  • Conventional, 20% down, no PMI $3,156a month

    Down payment
    $98,700
    Cash to close
    $113,505
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,612a month

    Down payment
    $74,025
    Cash to close
    $88,830
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Chelsea and for Suffolk County.

Property tax

Effective rate in Chelsea

0.67%of the home’s value each year

$3,321 a year for the typical owner in Chelsea.

  • Chelsea 0.67%
  • Suffolk 0.66%
  • Massachusetts 1.07%

What Massachusetts publishes Local senior exemption (clause 41C) (Massachusetts General Court (General Laws))

Exemptions and deadlines in Massachusetts

Flood risk in Suffolk County

FEMA does not publish these numbers by city: they are for all of Suffolk County.

Homes in the high-risk zone
3.8%
5,006
Of those, with NFIP insurance
53%
County Massachusetts U.S.
Homes in the high-risk zone 3.8% 3% 3.5%
Of those, with NFIP insurance 53% 50% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Chelsea

Typical rent in Chelsea is $1,956 a month: 8% below the county. In Chelsea, 59% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Suffolk County, by unit size. To pay the 2-bedroom one ($3,008 a month) without spending more than 30% of your income, you would need to earn $57.85 an hour working full time.

HUD fair market rent for all of Suffolk County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $2,440 $46.92 $97,600
1 bedroom $2,518 $48.42 $100,720
2 bedrooms $3,008 $57.85 $120,320
3 bedrooms $3,584 $68.92 $143,360
4 bedrooms $3,953 $76.02 $158,120

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Chelsea

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Chelsea is in ZIP code 02150.

For 2 bedrooms it is $2,800: $208 less than the fair market rent for Suffolk County ($3,008).

  • 02150 $2,800$3,340

A ZIP code counts for Chelsea when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Chelsea

HUD lists 11 buildings with rents for lower incomes in Chelsea. These are the largest.

  • Margolis-Scrivano-Mace Apartments 260 Clark Ave, Chelsea 02150 354 homes, 352 low-income · Run by Chelsea Housing Authority · Average payment: $586 a month · Average wait: 34 months (617) 409-5321
  • Chelsea Village 5 Admirals Way, Chelsea 02150 160 low-income homes · For older adults
  • Broadway Glen 855 Broadway, Chelsea 02150 120 homes, 119 low-income · For families
  • Broadway Glen Apts 855 Broadway, Chelsea 120 homes, 115 low-income · 1 bd: 21 · 2 bd: 99 · In service since 2001
  • Collins Non-Profit Apts 150 Captains Row, Chelsea 02150 100 homes, 99 low-income · For older adults

See all 632 buildings in Suffolk County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Chelsea

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 12 HUD-approved agencies with an office in Suffolk County; 6 say they serve in Spanish.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Chelsea

No down payment, repair or rent-help program on our list is for Chelsea or Suffolk County. The ones below are statewide in Massachusetts: they work in Chelsea the same as in the rest of the state.

Which programs do I qualify for? All programs in Massachusetts

  • MassHousing Down Payment Assistance

    Statewide in Massachusetts

    Massachusetts state agency second mortgage for the down payment: up to $30,000 at 0% and deferred, or up to $25,000 at 2% or 3% over 15 years, for first-time buyers with eligible income. Offered by MassHousing.

    DeferredRepayable

    See the program Official page

Housing counselors near Chelsea

The HUD-approved agencies closest to the center of Chelsea, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Chelsea Restoration Corporation

    154 Pearl St Ofc 2, Chelsea · 0 miles away

    • Mortgage delinquency and default
    • Pre-purchase counseling
    • and 1 more
    (617) 889-2277

  • Neighborhood of Affordable Housing, Inc.

    143 Border St, East Boston · 2 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (617) 567-5882

  • The Housing Partnership Network

    56 Broad St, Boston · 3 miles away

    (617) 720-1999

Every agency in Suffolk County All counseling agencies in Massachusetts

Help in Spanish near Chelsea

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Chelsea

HUD’s record names them for Chelsea or Suffolk County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Chelsea Housing Authority Public housing and Section 8 vouchers (617) 409-5321

3 other authorities have an office in Suffolk County: see the list Source: HUD

Cities

Other cities in Suffolk County

These cities are also in Suffolk County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Suffolk County Housing in Massachusetts

Nearby cities

The cities closest to Chelsea, with the typical home value.

Neighboring counties

If Suffolk County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Chelsea.

All guides
A smiling girl holds up a small mushroom she found on a forest outing.

Questions

Housing questions about Chelsea

Short answers with the numbers for Chelsea and all of Suffolk County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Chelsea?

The typical home value in Chelsea is $493,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Suffolk County it is $705,800.

How much does it cost to rent in Chelsea?

Typical rent in Chelsea is $1,956 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Suffolk County is $3,008.

What is the FHA loan limit in Chelsea?

Chelsea uses the FHA limit for all of Suffolk County (2026): $962,550 for a one-unit home and $1,851,100 for a four-unit home.

How much property tax do owners pay in Chelsea?

The typical homeowner in Chelsea pays $3,321 a year, according to the U.S. Census Bureau. That is 0.67% of the home’s value; in Suffolk County, the rate is 0.66%.

Where can I find free help to buy or rent in Chelsea?

There are 12 HUD-approved counseling agencies with an office in Suffolk County. 6 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).