How much is a home worth in ZIP code 01602?

The typical home in 01602 is worth $453,828, based on the Zillow Home Value Index.

Are home values rising in 01602?

Home values in 01602 are up 0.9% over the past year, and up 6.2% a year over five years.

What is the typical rent in 01602?

A typical home in 01602 rents for about $2,467 a month, a gross rental yield of 6.5%.

What is the property tax rate in 01602?

The effective property tax rate in 01602 is 1.3% — roughly $5,783 a year on a typical home.

ZIP code 01602 has a population of 27,092 and a median household income of $91,764.

HousingHandbookReference data

…

U.S. ZIP Code · MA01602

Worcester County · Worcester, MA

Typical home value

$453,828^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.9%
5-year / yr: +6.2%
10-year / yr: +7.8%

Relative price

vs U.S.: +59.8%
vs metro: -4.8%
vs state: -25.8%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 01602 is worth $453,828 — 4.8% below the Worcester, MA median. Over the past year, values have risen 0.9%. Homes here rent for a typical $2,467 a month — a 6.5% gross rental yield. The effective property tax rate is 1.3%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,467^[2]
Gross yield: 6.5%^[2]
Cap rate: 3.9%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.3%^[3]
Typical annual tax: $5,783^[3]

#Climate risk

FEMA National Risk Index ratings for Worcester County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Moderate
Heat wave: Relatively Moderate
Hurricane: Relatively High
Tornado: Relatively Moderate
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 27,092^[3]
Median household income: $91,764^[3]

#Migration

Household moves in and out of Worcester County over a year, from IRS tax-return data.

Net migration: -1,467^[5]
Moved in: 15,745
Moved out: 17,212

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 6
Middle: 0
High: 1

Doherty Memorial High
High · Grades 9–12 · Worcester
1,398 students
Chandler Magnet
Elementary · Grades PK–6 · Worcester
548 students
Flagg Street
Elementary · Grades K–6 · Worcester
387 students
Tatnuck
Elementary · Grades PK–6 · Worcester
380 students
West Tatnuck
Elementary · Grades PK–6 · Worcester
366 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.5%

Net yield (after ~40% expenses)3.9%

Annual rent$29,608

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,295

Loan principal$363,062

Down payment$90,766

Total interest paid$463,066

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.28

Monthly cost to own$3,153

Monthly rent$2,467

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 53rd percentile^[1]
Rental yield: 83rd percentile^[2]
Property tax: 60th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

9th for highest rental yield in MAView list →

Frequently asked

How much is a home worth in ZIP code 01602?: The typical home in 01602 is worth $453,828, based on the Zillow Home Value Index.
Are home values rising in 01602?: Home values in 01602 are up 0.9% over the past year, and up 6.2% a year over five years.
What is the typical rent in 01602?: A typical home in 01602 rents for about $2,467 a month, a gross rental yield of 6.5%.
What is the property tax rate in 01602?: The effective property tax rate in 01602 is 1.3% — roughly $5,783 a year on a typical home.
Who lives in 01602?: ZIP code 01602 has a population of 27,092 and a median household income of $91,764.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

01430 vs 01602 →
South Ashburnham CDP, MA
Typical home
$457,173
Gross yield
—
01510 vs 01602 →
Clinton CDP, MA
Typical home
$450,197
Gross yield
5.8%
01531
MA
Typical home
$458,762
Gross yield
—
01605
Worcester, MA
Typical home
$446,009
Gross yield
6.6%
01037
MA
Typical home
$442,797
Gross yield
—
01524
MA
Typical home
$465,017
Gross yield
—

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 01602 against any other ZIP — full side-by-side table.

Compare 01602 →

#Jump to section

U.S. ZIP Code · MA01602

Get more data on ZIPs like this

Get more data on ZIPs like this