Commercial Real Estate Market in Somerville, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
195 active listings and 955 off-market properties in Somerville, MA. Commercial property asks $570/SF to buy and $37.03/SF/Yr to lease.
Market Trends
Somerville, MA spans 4.0 square miles in Middlesex County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Somerville, MA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Somerville, MA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Somerville, MA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Somerville, MA asks $318/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 52.2%
- Civic 24.1%
- Mixed use 11.5%
- Industrial 6.8%
- Commercial 5.4%
Largest Zones share of zoned land by district
Neighborhood Residential
Civic
Urban Residential
Commercial Industry
Assembly Square
Neighborhood Residential (NR)
The intent of the zone to promote to permit the development of one, two, and three unit detached and semi detached residential buildings on individual lots.
Market overview
Demographics & Economy
Somerville, MA has 79,039 residents in 37,451 households. Density runs 19,627 people per square mile. Median household income here is $128,361 and median gross rent $2,482 a month.
79,039
Population
37,451
Households
2.1
Avg Household Size
33
Median Age
68%
College-Educated
93%
High-School Grad
4 sq mi
ZIP Area
19,627
Density / Sq Mi
$128,361
Median Household Income
$70,284
Median Earnings
$2,482
Median Rent
$897,932
Median Home Value
Tools
Lease vs Buy Breakeven
At $37.03/SF/Yr lease vs $570/SF buy → buying wins if held > 4 years.
At a 6.5% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Cambridge | — | $42.57 |
| Medford | — | $22.82 |
| Everett | — | $36.82 |
| Malden | — | $35.26 |
Commercial property in Somerville, MA asks $570/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Somerville?
Commercial property in Somerville, MA asks an average of $570 per square foot. The 5 most recent recorded sales traded at a median of $755/SF. Multifamily carries the highest asking price at $318/SF.
How much does it cost to lease commercial space in Somerville?
Asking lease rates in Somerville, MA average $37.03 per square foot per year.
Is it cheaper to lease or buy commercial space in Somerville?
Buying beats leasing in Somerville, MA if the property is held longer than 4.0 years, comparing $37.03/SF/Yr asking rent with $570/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Somerville market data come from?
Realmo compiles Somerville, MA figures from 5 recent recorded sales, 123 active sale listings, 72 active lease listings, 955 tracked off-market properties, the current Somerville zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 123 active for-sale and 72 active for-lease listings in Somerville, MA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 1,931 zoned acres across 17 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
