Waltham, MA Real Estate Market Guide
The lowest property tax rate in the Greater Boston portfolio. Best investor cap rates. And a dining scene on Moody Street that nobody talks about enough.
$774K–$1.05M
Median Price
$454
Price / Sq Ft
+3.3%
YoY Appreciation
1.03%
Tax Rate
$4,895/yr
Avg Tax Bill
4.75–5.75%
Cap Rate Est.
Neighborhood Overview
Waltham sits 8–10 miles west of Boston along Route 2, home to Brandeis University, Bentley University, and a biotech corridor that quietly employs tens of thousands of workers. It's a city with real density — not a leafy suburb — with legitimate neighborhood character and the restaurant scene on Moody Street that locals know about and out-of-towners discover by accident.
From an investment standpoint, Waltham is the most underappreciated market in this portfolio. It has the lowest property tax rate of any market we cover, multifamily stock that still pencils at current interest rates, strong rental demand from two university populations and the Route 128 biotech corridor, and pricing that remains accessible relative to neighboring Newton and Belmont.
2026 Market Snapshot
Waltham, MA — Key Market Metrics (2026)
$774K–$1.05M
Median Sale Price Range
$454/sqft
Median Price per Square Foot
+3.3%
Year-Over-Year Appreciation
24–26 days
Average Days on Market
$10.32
Tax Rate per $1,000 (FY2026)
$2,754–$2,934
Median 1BR Rent / Month
The +3.3% year-over-year appreciation is steady without being speculative. Waltham has avoided the violent swings that hit some suburban markets in 2025, which is actually a positive signal for long-term buyers — it suggests a market driven by genuine demand fundamentals rather than rate-cycle speculation.
The wide price range ($774K–$1.05M) reflects Waltham's diversity as a city. Piety Corner and the South Side command premium pricing; the Highlands and North Waltham offer more value. Knowing the sub-market matters more here than in smaller, more uniform towns.
The Investment Case for Waltham
Three numbers define Waltham's investment thesis: a 1.03% tax rate, a 2.81% real-time apartment availability rate, and estimated cap rates of 4.75–5.75% for Class B/C multifamily. Put those together and you have a market where the cash flow math still works — something increasingly rare in Greater Boston.
Waltham Investment Fundamentals
The residential exemption available to owner-occupants further improves the economics: the exemption reduces the assessed value by $317,643, lowering annual tax bills meaningfully for buyers who intend to occupy one unit of a multifamily property.
Who Buys in Waltham
Investors & Landlords
The primary buyer type for multifamily. Waltham's low tax rate and strong rental demand make it the most viable investment market of the four suburbs in this phase.
Young Professionals
Route 128 biotech workers, Brandeis and Bentley staff, and professionals who want urban amenities (Moody Street) at suburban prices. Waltham punches above its weight on lifestyle.
Value-Focused Buyers
Buyers comparing Waltham to Newton (1.5x the price) or Belmont (same commute, more expensive). The school district is a known weakness — best matched to buyers without school-age children.
Living in Waltham
Moody Street
Waltham's main commercial corridor is genuinely underrated. Over 50 restaurants representing cuisines from across the world, independent coffee shops, live music venues, and the kind of walkable neighborhood character that typically costs $300K more in Cambridge. This is the lifestyle amenity that surprises buyers from out of the area.
Commute
- 8–10 miles to downtown Boston
- Bus to Harvard Square (Red Line) — 35–45 min
- Route 2 corridor — car primary for most
- Bike infrastructure on Charles River path
Sub-Neighborhoods
- Piety Corner: Established, premium, quiet
- South Side: Moody Street adjacency, most walkable
- Highlands: Mid-range, family residential
- North Waltham: Most affordable, less walkable
Schools (Know Before You Buy)
- Schools are the known weakness of this market
- Math proficiency 38% (vs 43% state avg)
- Waltham High ranked in bottom 10% of MA
- Best fit: buyers without school-age children
Broker's Take
Christian Fernandez — Broker/Owner, Zenith Residential Properties
[Christian's personal perspective on Waltham — which sub-neighborhoods he'd target for investment, specific deal experience, what buyers consistently get wrong about this market, and any nuances the data doesn't capture.]
Related Resources
Investor's Guide
Cash flow modeling & financial analysis
Landlord's Guide
MA landlord law & tenant screening
Watertown Market Guide
Charles River, A− schools, cap rates 5–5.75%
Last Updated: April 2026 · Sources: Redfin, Zillow, Niche, MLS PIN, City of Waltham Assessor
Ready to Optimize Your Real Estate Asset?
Get clarity on your next real estate move with a complimentary asset review from our team.
Talk with a Zenith Advisor