The numbers for Somerville
| Measure | Somerville | Massachusetts |
|---|---|---|
| Units in 2-unit buildings | 10,654 | 282,603 |
| Units in 3- and 4-unit buildings | 10,189 | 323,934 |
| All units in 2-4 unit buildings | 20,843 (rank 3 of 351) | 606,537 |
| Share of all housing units | 55.2% (rank 1 among the 30 places with 20,000+ units) | 20.0% |
| Units built 1939 or earlier | 59.0% | 30.5% |
| Units built 1979 or earlier | 79.8% | 67.4% |
| Households that rent | 65.8% | 37.5% |
| Median value, owner-occupied homes (all types) | $911,300 | n/a |
| Median gross rent | $2,517 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 Somerville
Somerville has 20,843 units in two-to-four-unit buildings, about evenly split between two-families (10,654 units) and three- and four-unit buildings (10,189). At a median rent of $2,517, the highest of our city pages after Cambridge, rent and the length of existing leases shape what a buyer will pay.
Because the amounts are large, ask a CPA about depreciation and capital gains before you sign, and decide early whether a 1031 exchange is on the table.
Steps that apply in Somerville
- Fire department certificate. The Somerville 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.