ZIP Code · MA

ZIP 02723

Part of Fall River, MA

Pop. 17,067·Bristol County·159th most expensive ZIP in Massachusetts

Median rent (all units)

$1,778/mo

Year-over-Year

+0.4%

Month-over-Month

+1.0%

vs US Median

-$154

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 02723 · $1,778

More affordable than 52% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,150

1 BR

$1,220

2 BR

$1,510

3 BR

$1,820

4 BR+

$2,170

Research median

$1,510/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 02723 changed +0.4% 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 5 of the last 12 months.

What a typical income covers

30% of the median household income ($47,633) is $1,191 a month. That covers HUD's Fair Market Rent for up to a studio ($1,150); a 1-bedroom is $1,220.

Rank in Fall River

1st cheapest of 3 ZIP codes in Fall River.

From Zillow's monthly rent index (ZORI) for ZIP 02723. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,336/yr

At $1,778/mo median

Location

CityFall River

StateMA

CountyBristol County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.4% YoY, +1.0% MoM), not inventory.

Demographics

Who lives here

ZIP 02723 (Fall River, MA) is majority renter-occupied, has a median income below the national average, 13.4% of residents hold a bachelor's degree or higher.

Population

17,067

Median income

$47,633

Median age

37.4

Renters

68.2%

Age distribution

23.6%

22.8%

25.3%

14.6%

13.7%

Under 1823.6%

18–3422.8%

35–5425.3%

55–6414.6%

65+13.7%

Gender

52.2%

47.8%

Male52.2%

Female47.8%

Race & ethnicity

65.3%

14.3%

White65.3%

Black7.2%

Hispanic14.3%

Asian2%

Other11.1%

Education (25+)

24.5%

37.5%

24.7%

13.4%

No HS diploma24.5%

HS diploma37.5%

Some college24.7%

Bachelor's+13.4%

Housing tenure

31.8%

68.2%

Owner31.8%

Renter68.2%

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

2021 vs 2026

How ZIP 02723 in Fall River, MA has changed in 5 years

Income

$43,142 → $47,633

up 10.4%

Population

16,577 → 17,067

up 3.0%

Renter share

69.5% → 68.2%

-1.3 pts

Bachelor's+

9.9% → 13.4%

+3.5 pts

Median age

36.1 → 37.4

+1.3 yrs

Local incomes tracked alongside that move, going from a median of $43,142 in 2021 to $47,633 more recently. Headcount in the area went from 16,577 to 17,067 between 2021 and 2024, a 3.0% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 9.9% to 13.4%.

Community

Discussions about ZIP 02723

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Local insights

Tips for renters in ZIP 02723

About renting in ZIP 02723

Last updated: October 17, 2026

ZIP code 02723 covers Fall River, MA. The median rent here is $1,778/mo as of October 2026. A 1-bedroom rents for a median of $1,220/mo. A 2-bedroom rents for a median of $1,510/mo.

At 45% of local median household income ($47,633/yr), ZIP 02723 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 02723?

To keep rent at or below 30% of gross income, you would need to earn at least $71,000/year (about $34/hour full-time) to afford the median rent of $1,778/mo in ZIP 02723. The local median household income is $47,633/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 02723?

Rent in ZIP 02723 has been roughly flat over the past year, a +0.4% change.

How does ZIP 02723 compare to other ZIPs in Massachusetts?

ZIP 02723 is one of the more affordable among Massachusetts ZIP codes for rent, ranking #159 of 164 at $1,778/mo. Over the year to September 2026, rent in ZIP 02723 changed +0.4%, against a typical +3.0% across the 140 Massachusetts ZIP codes Zillow tracks.