ZIP Code · MA

ZIP 01040

Part of Holyoke, MA

Pop. 37,813·Hampden County·162nd most expensive ZIP in Massachusetts

Median rent (all units)

$1,663/mo

Year-over-Year

+3.0%

Month-over-Month

-1.0%

vs US Median

-$269

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 01040 · $1,663

More affordable than 61% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,210

1 BR

$1,370

2 BR

$1,720

3 BR

$2,110

4 BR+

$2,280

Research median

$1,720/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Massachusetts

Rent in ZIP 01040 changed +3.0% over the year to September 2026. Across the 140 Massachusetts ZIP codes Zillow tracks, the typical change was +3.0%.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($53,605) is $1,340 a month. That covers HUD's Fair Market Rent for up to a studio ($1,210); a 1-bedroom is $1,370.

From Zillow's monthly rent index (ZORI) for ZIP 01040. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,956/yr

At $1,663/mo median

Location

CityHolyoke

StateMA

CountyHampden County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+3.0% YoY, -1.0% MoM), not inventory.

Demographics

Who lives here

ZIP 01040 (Holyoke, MA) is majority renter-occupied, has a large retiree population, has a median income below the national average, 25.9% of residents hold a bachelor's degree or higher.

Population

37,813

Median income

$53,605

Median age

Renters

58.7%

Age distribution

21.4%

22.9%

23.2%

12.4%

20.1%

Under 1821.4%

18–3422.9%

35–5423.2%

55–6412.4%

65+20.1%

Gender

48.5%

51.5%

Male48.5%

Female51.5%

Race & ethnicity

53.1%

52.4%

White53.1%

Black3.4%

Hispanic52.4%

Asian1.3%

Education (25+)

21.3%

28.9%

23.8%

25.9%

No HS diploma21.3%

HS diploma28.9%

Some college23.8%

Bachelor's+25.9%

Housing tenure

41.3%

58.7%

Owner41.3%

Renter58.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 01040 in Holyoke, MA has changed in 5 years

Income

$45,045 → $53,605

up 19.0%

Population

38,480 → 37,813

down 1.7%

Renter share

60.4% → 58.7%

-1.7 pts

Bachelor's+

22% → 25.9%

+3.9 pts

Median age

36.5 → 40

+3.5 yrs

Local incomes tracked alongside that move, going from a median of $45,045 in 2021 to $53,605 more recently. The population has contracted by 1.7% since 2021, moving from about 38,480 residents to roughly 37,813. Renters now make up 58.7% of households, compared with 60.4% five years ago. College-educated residents now make up 25.9% of adults here, versus 22% in 2021.

Community

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Local insights

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About renting in ZIP 01040

Last updated: October 17, 2026

ZIP code 01040 covers Holyoke, MA. The median rent here is $1,663/mo as of October 2026. A 1-bedroom rents for a median of $1,370/mo. A 2-bedroom rents for a median of $1,720/mo.

At 37% of local median household income ($53,605/yr), ZIP 01040 ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.0% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 01040?

To keep rent at or below 30% of gross income, you would need to earn at least $67,000/year (about $32/hour full-time) to afford the median rent of $1,663/mo in ZIP 01040. The local median household income is $53,605/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 01040?

Rent in ZIP 01040 has risen 3.0% over the past year.

How does ZIP 01040 compare to other ZIPs in Massachusetts?

ZIP 01040 is one of the more affordable among Massachusetts ZIP codes for rent, ranking #162 of 164 at $1,663/mo. Over the year to September 2026, rent in ZIP 01040 changed +3.0%, against a typical +3.0% across the 140 Massachusetts ZIP codes Zillow tracks.