Somerville, a Trendsetting and Hip All-America City
Somerville is blessed with the confluence of 4 things that are the makings of a city growth: its proximity to Cambridge and Boston, urban amenities, highly skilled talents with the highest concentration of engineering, tech and life science professionals per square mile and accessibility via public transportation, which will expand in the years to come with the extension of the green line.
Its communities revolve around its squares and hills. The West side is home to vibrant Davis square, the city's cultural heart, Tufts University/ Magoun Square and Teele Square. Pleasant Spring Hill and Prospect Hill look over Cambridge. Union Square connects the dots and is poised to be at the forefront of the region's development. East Somerville and Ten Hill, and now Assembly Row, a first-rate urban shopping center with the HQs of Partners Healthcare and Puma and T orange lines.
Nearly half of Somerville's entire population are millennials. And millennials with a four-year degree or higher constitutes one fourth of the residents.
With 130+ restaurants, nearly 30 coffee places and 25 parks, Somerville's urban livability approaches that of both Cambridge and Boston while real estate is more affordable.
The Somerville Real Estate Market
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What is the 2022 residential tax rate in Somerville, Massachusetts? For 2022, the residential tax rate in Somerville, MA is $10.19 per $1,000 of assessed value.
The Fiscal Year is July 1 to June 30. Taxes collected quarterly in August, November, February, and May.
For fiscal year 2022 the Somerville residential exemption is $359,493. The full residential exemption reduces a Somerville homeowner's taxes by $3,659.64 in 2022.
Access the Somerville online assessor's database
The residential exemption is for owners who reside in their Somerville property.
Access the FAQ
- 711 properties were sold in 2022 in Somerville Mass with a prominence of condominiums (465 units) and an average sale price, all properties included, of $1,043,000
- The average sale price for condominiums was $873,000 similar to the year before 2021
- 78 single family homes sold with an average sale price at $1,220,000 similar to the year before in 2021
- 168 multi-unit buildings were sold in 2022 with an average sale price of $1,432,000
Looking to purchase a new home? Ask Sandrine Deschaux with Sandrine Deschaux + Co, affiliated with RE/MAX, to assist you with your home search and understanding of the Somerville real estate market.
Updated for Year 2023
