The Forbes Advisor study found that Worcester has the second-lowest vacancy rate in the country, with only 1.7% of apartments available for rent compared to a national average of 6.3%. This scarcity of available housing has led to a surge in rental prices, with Worcester experiencing the third-highest increase in rents in the country at $163 year over year.
The high cost of housing in Worcester is also affecting the city’s homelessness population. According to Leah Bradley, director of programs for the Central Massachusetts Housing Alliance, the rising median rent in Worcester is making it difficult for low- and middle-income residents to find affordable housing. This issue is further compounded by the rising cost of single-family homes in Massachusetts, making it even harder for renters to transition to homeownership.
To address the housing crisis in Worcester, the state government is exploring various initiatives. Governor Maura Healey’s administration is pushing for the passage of the Affordable Homes Act, a $4.12 billion housing bond bill that would fund the creation or preservation of 70,000 homes across the state. The state has also allocated $1 million in grants to cities and towns for the redevelopment of office space into residential units.
Despite these efforts, experts say more needs to be done to address the housing crisis in Worcester and Massachusetts as a whole. Bradley emphasizes the need for more affordable housing options and increased cooperation from communities to welcome rental housing into their neighborhoods.
