The numbers for New Bedford
| Measure | New Bedford | Massachusetts |
|---|---|---|
| Units in 2-unit buildings | 8,110 | 282,603 |
| Units in 3- and 4-unit buildings | 12,589 | 323,934 |
| All units in 2-4 unit buildings | 20,699 (rank 4 of 351) | 606,537 |
| Share of all housing units | 46.7% (rank 2 among the 30 places with 20,000+ units) | 20.0% |
| Units built 1939 or earlier | 52.1% | 30.5% |
| Units built 1979 or earlier | 84.1% | 67.4% |
| Households that rent | 59.7% | 37.5% |
| Median value, owner-occupied homes (all types) | $357,300 | n/a |
| Median gross rent | $1,137 a month | n/a |
Counts are housing units in buildings with 2, 3 or 4 units (Census table B25024), not buildings and not parcels; a three-family counts as three units. They are survey estimates with a margin of error (for large cities about 1 to 8 percent of the 2-4 unit count). The median value is what owners say their home is worth across all home types, not a sale price and not the price of a two- or three-family.
What this means if you own one in New Bedford
New Bedford has 20,699 units in two-to-four-unit buildings, 12,589 of them in three- and four-unit buildings. With a median owner-occupied value of $357,300 and a median rent of $1,137, it is among the lowest-priced of our city pages, so the dollars you keep depend on a short list of costs: payoff, commission, the deed excise tax and any lead work.
52.1% of units pre-date 1940 (2nd among places with 20,000+ units).
Steps that apply in New Bedford
- Fire department certificate. The New Bedford Fire Department inspects smoke and carbon monoxide alarms before a sale or transfer (MGL c.148 s.26F and s.26F1/2). Ask for the date as soon as you have a closing date. See the smoke and CO certificate.
- Lead notice. For a building built before 1978, give the buyer the Property Transfer Lead Paint Notification before the buyer signs the purchase and sale agreement. See lead paint when you sell.
- Tenants and deposits. Deposits and last month's rent move to the buyer, who must notify each tenant in writing within 45 days (MGL c.186 s.15B). See selling with tenants in place.
- If you used the city's lead program, read what you signed. The City of New Bedford's lead paint abatement program for investor owners is a grant tied to a recorded 5-year restriction on the property (New Bedford: Lead Paint Abatement and Healthy Homes Program). A buyer and your closing attorney will see the restriction in the title; ask the city what it means for a sale during that period.