Cheapest Homes in Massachusetts
Surveying the cheapest homes in Massachusetts, I found a mixed bag of expensive prices for less substantial homes right alongside charitable selling prices for several large homes on the market. Boston and the various cities around it seem to have inflated prices, while Springfield and Western Massachusetts seem to be more in line with the adjacent counties in Connecticut (around Hartford) than the prices in Boston. That's natural, given the proximity of Hartford to Springfield. And like most major cities, Boston is always going to have people packed in tight, so living space is always going to be precious.
The Real Estate Market in Massachusetts
The decline of the real estate market in Massachusetts caused the Boston Globe to term the area a "renter's market", but that's in comparison to the previous era, when the cost of buying a home went up 80% in one year's time. High priced condominiums are next to impossible to sell, as the job market is hovering with 9% unemployment rates and significant underemployment rates, too.
Cheapest Homes in Boston
I know this is going to drive Bostonians up the wall when I say it, but Boston is a little bit like New York City when it comes to housing prices. Even in a buyers market, prices remain too high for the amount of property you're buying. So when I list a one bedroom, one bathroom apartment on Franklin Avenue in Revere, I wince that any apartment could cost so much.
On the other hand, Irma Street in Boston has a 6 bedroom, 3 bathroom home with 3,681 square feet inside listed for $80,000. That's an excellent investment in most cities, unless Irma Street is a war zone. A similar property on Frankfort Street, with six bedrooms and three bathrooms, is selling at an even $100,000. I try to avoid mentioning houses in the six figures, but the Frankfurt St. residence is low six-figures and includes 3,870 square feet, so I thought you would forgive me. Despite the extra $20,000 tacked on compared to the other house listed, that's still a bargain.
Cheapest Homes in Worchester
Worchester has a well-situated three bedroom, one bathroom single-family house currently for sale on Norfolk Street. The listing price for this residence is $59,900, though this is an auction house. Blodgett Place has a 6 bed, 3 bath lot with 2,844 square feet being auctioned for $75,600.
Another house, this time on King Street, has 8 bedrooms and 3 bathrooms situated in 2,942 square feet. This 8-bedroom house is being sold for $82,000 and is obviously a foreclosure situation.
Western Massachusetts Home Buying
Springfield, Massachusetts is the third-largest city in Massachusetts and the largest city in western Massachusetts. Like I mentioned in the cheap Connecticut houses article, Springfield is part of the Knowledge Corridor along with Hartford, Connecticut--with 32 places of higher learning among them. Springfield has been called "A City of Firsts", "The City in the Forest", and the cultural capital of the Connecticut River Valley. It has a reputation as an excellent place to raise a family.
Springfield is certainly an excellent place to find cheap homes. I found a number of exciting options for the home buyer in this part of New England.
Cheapest Houses in Springfield
Among the best cheap home options is a place on North Main Street in nearby Palmer, which has a 4 bedroom, 2 bathroom house selling for $40,000 that has 2,336 square feet. In most circumstances, that's a bargain for a home buyer.
For starters, Oakwood Terrace has a home selling for $39,000, though the bed and bath information isn't listed. From the looks of the house, I'm betting it's 1 bed and 1 bath. I don't know if the lack of information is an oversight by the realtor or the home seller, but I would urge these people to give as much information as possible. Not offering full disclosure is likely to drive away many more people than it's going to lure in.
You can find a 2 bed, 1 bath house with 848 square feet selling for $57,900 on Silas Street in Springfield. Worthen Street in West Springfield has a 3 bed, 2 bath place with 1,704 square feet selling for $83,500.
More Cheap Homes in Massachusetts
Among the smaller cities in Massachusetts, I found homes you might look to buy and commute from. Wilno Avenue in Ludlow, Massachusetts has a 2 bed, 1 bath residence selling for around $85,000. Old County Road in Holland has a 1 bed, 1 bath place selling for $85,000, too.
The best of these home buying possibilities is 3 bed, 1 bath home on Emerald Street in Chicopee. While the bedrooms are going to be small (912 square feet total), most families probably need at least three bedrooms, so this $70,000 housing options looks to be one of the better buying options in Massachusetts at the moment.
Cheap House in Lowell and Framingham
Lowell has a 2 bed, 2 bath house with 1,188 square feet on Gage Street selling for $90,000. Meanwhile, nearby Framingham (Middlesex County) has several bargain prices, including $90,000 for a 3 bed, 1 bath condo/townhouse on Hollis Street. Framingham also has a 645 square foot apartment unit with 1 bedroom and 1 bathroom selling for $77,900.
Cambridge, Brockton, and even Lowell are probably going to follow the lead of Boston where the price of housing goes, but Springfield offers a good choice of communities and pricing options. Remember to be persistent when searching for the right home and the right price. A steady stream of new homes come on the market every month. Just because you see the same listings and same prices one week, that does not mean you won't find exactly the type of house at the price level you want and your family needs.