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Berkley

Learn about the people, housing, costs and businesses in Berkley, Massachusetts

Median Home$472,579
Median Rent$1,595/month
Population8,549
Leading IndustriesRetail · Public Administration · Education13% retail
Home Value Growth⬆⬆+20.0% over 2 years
Retirees21% of residentsslightly above average
Homeowners95% of occupied units
NotableHigh Incomes$133k/year · top 14% nationally
Berkley
MA

Frequently Asked Questions

What are today's mortgage rates in Berkley?

As of today, the 30-year fixed mortgage rate for Berkley is approximately 6.843% (6.877% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Berkley?

The median home value in Berkley is $473k. The median monthly rent is $1,595. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Berkley?

Home values in Berkley have increased 20.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Berkley?

Based on a typical all-in ownership cost of $2,234/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $96k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Berkley is $133k/year.

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What industries drive the economy in Berkley?

The largest employment sectors in Berkley are public administration (25%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.