Fall River, Massachusetts Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Fall River, Massachusetts rental market.
Fall River, Massachusetts
Average Apartment Rent
$1,933
Y-o-Y Change in Average
Apartment Rent
4.3%
As of July 2024
Compared to a year ago, Fall River, Massachusetts apartments have recorded a 4.3% rent increase.
Fall River, Massachusetts |Average apartment rent trend
Fall River, Massachusetts| Average apartment rent
Fall River, Massachusetts | Apartment rent ranges
At 58.46%, apartments priced $1,500 - $2,000 represent the bulk of Fall River, Massachusetts rentals, while condos priced $700 - $1000 hold the lowest share of the market – 0.47%.
Fall River, Massachusetts | Housing tenure**
Renters take up 64% of Fall River, Massachusetts real estate, occupying a total of 26,358 units, while homeowners live in 14,755 properties.
Median number of rooms of renter-occupied housing units**
4.6
Renter median household income**
$38,249
Average household size of renter-occupied housing units**
2.13
Rental vacancy rate**
1.2%
Fall River, Massachusetts | Renter-occupied housing units by no. of bedrooms**
There are 11,002 rentals in Fall River, Massachusetts with 2 beds making up the highest share of the market, at 42%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 158 units. Overall, the median number of rooms in Fall River, Massachusetts homes for rent is 4.6.
Fall River, Massachusetts |Renter-occupied units by age of householder**
Most condos for rent in Fall River, Massachusetts are occupied by residents in the 25 - 34 years age group (23%), followed by those in the 45 - 54 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Fall River, Massachusetts | Renter-occupied housing units by family type**
Fall River, Massachusetts | Renter-occupied housing units by the presence of own children**
A total of 13,750 apartments for rent in Fall River, Massachusetts, or 52% of all rentals are family households. Additionally, 31% of rental homes include children under the age of 18 – that’s 8,199 units. All in all, the median size of a renter-occupied household in Fall River, Massachusetts is 2.13.
Fall River, Massachusetts | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 12% of the rental market. In contrast, residents with less than a high school degree reside in 24% of the homes for rent in Fall River, Massachusetts.
Fall River, Massachusetts | Renter-occupied units by year structure built**
The highest share of Fall River, Massachusetts apartment rentals, namely 48% or 12,774 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (10%, 2,743 units), and the ones Built 1980 - 1989 (9%, 2,427 units).
Fall River, Massachusetts | Renter-occupied units by year householder moved in**
Median year renter moved into unit2014
Most Fall River, Massachusetts renters (45%) moved in 2010 to 2017, while only 5% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Fall River, Massachusetts condos for rent is 2014.
Fall River, Massachusetts | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Fall River, Massachusetts renters have 1 vehicle available per household, 22% of them have 2 vehicles available, and 22% have No vehicle available.
Fall River, Massachusetts | Means of transportation to work of householders living in renter-occupied housing units**
Fall River, Massachusetts |Geographical mobility in the past year for householders living in renter-occupied housing units**
Fall River, Massachusetts | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Fall River, Massachusetts apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
