Medford, MA
Population 59,062 · Massachusetts
About Medford, MA
Medford is a mid-sized city located in Massachusetts with a population of 59,062 residents according to the latest US Census Bureau American Community Survey data. The median household income is $118,089 per year, which is 57% above the national median of $75,149. The median age of 36.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Medford features a median home value of $715,500, which is 192% above the national median of $244,900. This places Medford in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,477, 113% above the national average of $1,163/month. Of the 25,879 total housing units, 53% are owner-occupied (13,038 units) and 47% are renter-occupied (11,534 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Medford shows an unemployment rate of 4.4%, which is near the national rate of 3.7%. The poverty rate stands at 8.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Medford have an average one-way commute time of 30.8 minutes.
Education & Demographics
57.6% of Medford residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.0% White, 0.9% Hispanic or Latino, 2.2% Black or African American, and 5.5% Asian residents, with 24.2% of the population being foreign-born.
How Medford Ranks in Massachusetts
Cost of Living in Medford, MA
Compared to national averages, Medford has a median household income of $118,089 (57% above the national median of $75,149). Home values average $715,500, which is 192% above the national median. Monthly rent at $2,477 is 113% above the US average of $1,163. Within Massachusetts, Medford's income is 12% above the state average of $105,630, and home values are 27% above the state median of $561,296.
Why Live in Medford, MA?
Medford offers a strong local economy with a median household income of $118,089, well above the national average, and a well-educated community where 57.6% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $715,500. However, as a mid-sized city, Medford provides access to a wide range of amenities and services.
Medford has a population of 59,062 with a median age of 36.1 years. Compare Medford with other cities to see how it stacks up, or explore all cities in Massachusetts.
Similar Cities Near Medford
Cities in Massachusetts with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Taunton | 59,719 | $79,715 | $388,200 | Compare |
| Revere | 59,933 | $81,121 | $566,200 | Compare |
| Weymouth Town | 57,786 | $100,077 | $516,200 | Compare |
| Brookline | 62,822 | $140,631 | $1,233,100 | Compare |
| Chicopee | 55,213 | $66,927 | $251,800 | Compare |
| Peabody | 54,180 | $95,278 | $566,200 | Compare |
| Waltham | 64,723 | $116,560 | $705,700 | Compare |
| Methuen Town | 53,043 | $103,270 | $472,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Massachusetts
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Medford With Other Cities
Frequently Asked Questions about Medford
What is the population of Medford, MA?
The population of Medford, MA is 59,062 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Massachusetts.
What is the median household income in Medford?
The median household income in Medford, MA is $118,089 per year, which is 57% above the national median of $75,149.
What is the median home value in Medford?
The median home value in Medford, MA is $715,500, which is 192% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Medford?
The median monthly rent in Medford, MA is $2,477, which is 113% above the national average of $1,163/month.
What is the unemployment rate in Medford?
The unemployment rate in Medford, MA is 4.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Medford, MA a good place to live?
Medford offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 59,062 and a median age of 36.1, the city appeals to a broad range of residents.
How educated is Medford, MA?
57.6% of residents in Medford aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Medford?
Key cost-of-living indicators for Medford, MA: median home value is $715,500 (192% above national), median rent is $2,477/month, and median household income is $118,089. The home-value-to-income ratio is 6.1x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Medford?
The poverty rate in Medford, MA is 8.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Medford, MA?
Medford's population is 1.0% White, 0.9% Hispanic or Latino, 2.2% Black or African American, 5.5% Asian, and 6.3% two or more races. 24.2% of residents are foreign-born.