ZIP Code · MA

ZIP 02150

Part of Chelsea, MA

Pop. 39,908·Suffolk County·100th most expensive ZIP in Massachusetts

Median rent (all units)

$2,630/mo

Year-over-Year

+2.1%

Month-over-Month

+0.1%

vs US Median

+$698

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 02150 · $2,630

More expensive than 83% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$2,110

1 BR

$2,210

2 BR

$2,630

3 BR

$3,150

4 BR+

$3,480

Research median

$2,630/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

Cheapest month to sign

January. Asking rents in ZIP 02150 usually run 2.1% below trend in January and 1.6% above it in August, about $97 a month apart at today's median. Based on 9 years of data.

Compared with the peak

Rent in ZIP 02150 is 0% below its high of $2,631 in July 2026, at $2,630 as of September 2026.

Past year vs. the rest of Massachusetts

Rent in ZIP 02150 changed +2.1% over the year to September 2026. Across the 140 Massachusetts ZIP codes Zillow tracks, the typical change was +3.0%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 02150 rose 33.4% while median household income rose 27.2% ($56,737 to $72,179). Rent outpaced income.

Since before the pandemic

Rent in ZIP 02150 is 29.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($72,179) is $1,804 a month. That is less than HUD's Fair Market Rent for a studio ($2,110).

Cheaper nearby

ZIP 01901, 6 miles away, rents for 13% less ($2,278/mo), about $4,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 02150. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$31,560/yr

At $2,630/mo median

Location

CityChelsea

StateMA

CountySuffolk County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.1% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.1% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 02150 (Chelsea, MA) is majority renter-occupied, 22.2% of residents hold a bachelor's degree or higher.

Population

39,908

Median income

$72,179

Median age

34.4

Renters

74%

Age distribution

24.4%

26.7%

28%

Under 1824.4%

18–3426.7%

35–5428%

55–6410.5%

65+10.5%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

21.7%

67.3%

White21.7%

Black8.2%

Hispanic67.3%

Asian2.1%

Other0.7%

Education (25+)

29.7%

31.8%

16.3%

22.2%

No HS diploma29.7%

HS diploma31.8%

Some college16.3%

Bachelor's+22.2%

Housing tenure

26%

74%

Owner26%

Renter74%

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

2021 vs 2026

How ZIP 02150 in Chelsea, MA has changed in 5 years

Rent

$1,865 → $2,630

up 41.0%

Income

$64,688 → $72,179

up 11.6%

Population

40,009 → 39,908

down 0.3%

Renter share

71.8% → 74%

+2.2 pts

Bachelor's+

20.9% → 22.2%

+1.3 pts

Median age

33.6 → 34.4

+0.8 yrs

Across the past five years, the going rent in ZIP 02150 in Chelsea, MA has shifted from $1,865 to $2,630, up 41.0% since 2021. Median household income climbed from $64,688 to $72,179 between 2021 and 2024, a 11.6% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has risen from 71.8% to 74%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in ZIP 02150 in Chelsea, MA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 02150

Last updated: October 17, 2026

ZIP code 02150 covers Chelsea, MA. The median rent here is $2,630/mo as of October 2026. A 1-bedroom rents for a median of $2,210/mo. A 2-bedroom rents for a median of $2,630/mo.

At 44% of local median household income ($72,179/yr), ZIP 02150 ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 02150?

To keep rent at or below 30% of gross income, you would need to earn at least $105,000/year (about $50/hour full-time) to afford the median rent of $2,630/mo in ZIP 02150. The local median household income is $72,179/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 02150?

Rent in ZIP 02150 has risen 2.1% over the past year as of September 2026. It sits 0% below its high of $2,631 in July 2026.

When is the cheapest time to rent in ZIP 02150?

Asking rents in ZIP 02150 are usually lowest in January, about 2.1% below their yearly trend, and highest in August, about 1.6% above it. At today's median that is a gap of roughly $97 a month. This pattern comes from 9 years of Zillow rent data.

Has rent outpaced income in ZIP 02150?

Yes. From 2019 to 2024, rent in ZIP 02150 rose 33.4% while median household income rose 27.2%, from $56,737 to $72,179. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 02150 compare to other ZIPs in Massachusetts?

ZIP 02150 is in the middle among Massachusetts ZIP codes for rent, ranking #100 of 164 at $2,630/mo. Over the year to September 2026, rent in ZIP 02150 changed +2.1%, against a typical +3.0% across the 140 Massachusetts ZIP codes Zillow tracks.