BPN

🌎

Chelsea

35 min to Boston
"The densest diversity in Massachusetts at bargain prices"
Median Price
$554,375
$385/sqft
School Rating
5/10
Good
Appreciation
6.5%
per year
Commute
35 min
to downtown

Financing Considerations

Properties in Chelsea typically typically qualify for conforming loans with more flexible underwriting standards.

Learn about loan thresholds, property condition impact, flood/wind insurance, and how vintage homes (common in many MA towns) affect mortgage approval.

✨The Vibe

Dense, diverse, gritty urban community with immigrant spirit and massive potential

What It's Really Like

Chelsea is raw, real, and affordable. It's 60% Hispanic, incredibly dense, and has the shortest commute to Boston. Schools struggle but the community is strong and waterfront development is coming.

Best For

  • ✓First-time buyers needing ultimate affordability
  • ✓Investors betting on waterfront transformation
  • ✓Those who value diversity and authentic communities
  • ✓Commuters wanting quick Boston access

Avoid If

  • ✗You need top schools immediately
  • ✗You want suburban space and quiet
  • ✗You're uncomfortable with urban density and grit

🌟Highlights

🚇Silver Line brings you to downtown in 12 minutes
🌎Most diverse city in Massachusetts (60% Hispanic)
💰Most affordable option near Boston proper
🌊Waterfront redevelopment transforming the city

Insider Tips

  • 💡Chelsea Station area is improving rapidly
  • 💡Amazing Latin American restaurants and markets
  • 💡Mystic Mall redevelopment could be a game-changer

Demographics

Population
39,045
Median Age
35.4
Median Income
$88,859

Economic Profile

Remote Work
8.1%
work from home
Professional Workers
23.6%
knowledge economy
Broadband Access
82.7%
digital infrastructure
Median Commute
34 min
to work
Rental Cost Burden
55.1%
pay >30% on rent
Homeownership
27.9%
owner-occupied
Poverty Rate
21.4%
below poverty line
Unemployment
8.9%
of labor force
Median Home Value
$451K
Census estimate
Data source: Census ACS 2022 5-year

Religious Community

Places of Worship
11
Churches
8
Synagogues
2
Mosques
1
🌟 Multi-faith community with diverse religious traditions(Diversity Score: 69/100)
Historical Context: Oldest establishment dates to 1841• 5 established before 1900
Data Source: MassGIS 2025 (Updated 2025-02-03)

Housing Stock Age

Median Year Built
1925
100 years old
Pre-1940 Construction
8.1%
Lower risk
Post-2000 Construction
18.6%
Modern housing stock
Est. Annual Insurance
$3,500
Based on housing age

High Insurance Risk

Chelsea has a high concentration of pre-1940 homes (8.1%). Insurance premiums may be significantly higher ($2,800-$4,000+/year) and some carriers may decline coverage. Budget for potential remediation costs (knob-and-tube wiring, asbestos, lead paint).

Insurance Cost Calculator

Estimate your annual homeowners insurance premium

$277,188$554,375$1,108,750

Leave blank to use town median (1925)

Annual Premium
$3,325
$277/month
vs. State Average
+66%
MA avg: $2,008/year
Risk Category
VERY HIGH
Based on home age

30-Year Mortgage Impact

$99,750

Total insurance cost over 30-year mortgage (equivalent to 0.6% of home value)

Age Penalty

This home costs $1,714 more per year to insure than a newly built home. Over 30 years, that's $51,420 in additional insurance costs.

Ways to Lower Your Premium

  • Bundle home + auto insurance with same carrier (10-25% discount)
  • Increase deductible from $500 to $2,500 (save 15-30%)
  • Install monitored security system (5-20% discount)
  • Update electrical panel and remove knob-and-tube wiring
  • Replace roof with impact-resistant materials (save 5-15%)
  • Upgrade plumbing to PEX or copper
  • Complete full home inspection and address major issues
  • Consider MAPFRE or Chubb for historic home coverage
  • Shop quotes from 5-6 carriers (rates vary significantly)
  • Ask about claims-free discount (5-year history)

* Estimates based on Massachusetts state averages and typical underwriting criteria. Actual premiums vary by carrier, coverage limits, deductible, claims history, and credit score. For accurate quotes, contact a licensed insurance agent.

Construction Era Distribution

2020+
180 units
2010-2019
6.6%
1,150 units
2000-2009
11.1%
1,950 units
1990-1999
12.6%
2,200 units
1980-1989
14%
2,450 units
1970-1979
15.7%
2,750 units
1960-1969
16.6%
2,900 units
1950-1959
15.1%
2,650 units
1940-1949
10.6%
1,850 units
Pre-1940
8.1%
1,420 units
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Resources & Research

School Information

Boston Area School Rankings →

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Market Analysis

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Break-even math, SALT cap impacts & decision framework for Boston buyers

Insurance & Risk

MA Insurance Crisis Guide →

Why coastal & historic homes face coverage denials (+ FAIR Plan rules)

Home Buying Terms

Real Estate Glossary →

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View All Market Guides & Analysis →

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🍝

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