How much is a home worth in ZIP code 02038?

The typical home in 02038 is worth $708,180, based on the Zillow Home Value Index.

Are home values rising in 02038?

Home values in 02038 are up 1.5% over the past year, and up 5.5% a year over five years.

What is the typical rent in 02038?

A typical home in 02038 rents for about $2,547 a month, a gross rental yield of 4.3%.

What is the property tax rate in 02038?

The effective property tax rate in 02038 is 1.2% — roughly $8,523 a year on a typical home.

ZIP code 02038 has a population of 33,154 and a median household income of $145,773.

HousingHandbookReference data

…

U.S. ZIP Code · MA02038

Norfolk County · Boston-Cambridge-Newton, MA-NH

Typical home value

$708,180^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.5%
5-year / yr: +5.5%
10-year / yr: +5.6%

Relative price

vs U.S.: +149.3%
vs metro: -2.4%
vs state: +15.8%

Price history

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

The typical home in 02038 is worth $708,180 — 2.4% below the Boston-Cambridge-Newton, MA-NH median. Over the past year, values have risen 1.5%. Homes here rent for a typical $2,547 a month — a 4.3% gross rental yield. The effective property tax rate is 1.2%.

#Rent & investment

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

Monthly rent: $2,547^[2]
Gross yield: 4.3%^[2]
Cap rate: 2.6%^[2]

#Property tax

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

Effective tax rate: 1.2%^[3]
Typical annual tax: $8,523^[3]

#Climate risk

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

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively High
Coastal flood: Relatively High
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Relatively Moderate
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Moderate
Winter weather: Relatively Low

#Who lives here

Population: 33,154^[3]
Median household income: $145,773^[3]

#Migration

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

Net migration: -1,817^[5]
Moved in: 22,823
Moved out: 24,640

Schools

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

Public schools: 12
Elementary: 6
Middle: 3
High: 2

Franklin High
High · Grades 9–12 · Franklin
1,569 students
Tri-County Regional Vocational Technical
High · Grades 9–12 · Tri-County Regional Vocational Technical
964 students
Benjamin Franklin Classical Charter Public School
Elementary · Grades K–8 · Benjamin Franklin Classical Charter Public (District)
888 students
Helen Keller Elementary
Elementary · Grades K–5 · Franklin
558 students
Horace Mann
Middle · Grades 6–8 · Franklin
387 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 yield4.3%

Net yield (after ~40% expenses)2.6%

Annual rent$30,563

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$3,581

Loan principal$566,544

Down payment$141,636

Total interest paid$722,595

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 ratio1.92

Monthly cost to own$4,879

Monthly rent$2,547

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: 46th percentile^[1]
Rental yield: 42nd percentile^[2]
Property tax: 66th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 02038?: The typical home in 02038 is worth $708,180, based on the Zillow Home Value Index.
Are home values rising in 02038?: Home values in 02038 are up 1.5% over the past year, and up 5.5% a year over five years.
What is the typical rent in 02038?: A typical home in 02038 rents for about $2,547 a month, a gross rental yield of 4.3%.
What is the property tax rate in 02038?: The effective property tax rate in 02038 is 1.2% — roughly $8,523 a year on a typical home.
Who lives in 02038?: ZIP code 02038 has a population of 33,154 and a median household income of $145,773.

#Comparable ZIPs

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

02054 vs 02038 →
Millis-Clicquot CDP, MA
Typical home
$709,042
Gross yield
—
02045 vs 02038 →
Hull CDP, MA
Typical home
$707,272
Gross yield
5.0%
01701
Framingham, MA
Typical home
$709,829
Gross yield
4.2%
02171
Quincy, MA
Typical home
$709,943
Gross yield
4.7%
01821
Pinehurst CDP, MA
Typical home
$705,962
Gross yield
4.6%
01834
MA
Typical home
$716,339
Gross yield
—

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#Jump to section

U.S. ZIP Code · MA02038

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