Study: Worcester area has 8th oldest housing stock in country for midsize metros
Image | Courtesy of Google Maps
This triple decker on Stanton St. in Worcester was built in 1900, according to City of Worcester property records.
Prospective home buyers in the Worcester region who are looking for homes built after 1970 may be facing an uphill battle, as a study has found the Greater Worcester metro area has the nation’s eighth oldest housing stock among all midsize metropolitan areas.
The study, conducted by Construction Coverage and released Friday, a construction-focused research firm based in San Diego, found that the median age of Worcester-area homes is 55 years, with half of the region’s housing stock having been built before 1967. This median figure is 14 years older than the nationwide number of 41 years.
The age of Worcester’s housing stock is not unique to southern New England. Construction Coverage ranked the Greater Springfield metro area second on its list, with a median age of 61 years.
The list of large metropolitan areas with the oldest housing stock ranked the Providence-Warwick metro area as having the fourth oldest stock with a median age of 60 years, while the Greater Boston metro area ranked sixth with a median age of 58 years.
Massachusetts ranks 3rd amongst states with the oldest housing stocks with a median age of 58 years. Only New York and Rhode Island rank higher. The midsize market with the oldest stock was Scranton–Wilkes-Barre, Pennsylvania.
Despite the age of the area’s existing housing stock, Massachusetts has been slow to build newer homes. A report conducted by Construction Coverage in August found Massachusetts was ranked 41th in regards to the pace of new housing construction in 2022, with the state having authorized 5.9 new units of housing per 1,000 existing units.
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