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Sarah Mitchell
Compass Real Estate · ZIP 02420
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02420 ZIP Code Housing Market
$1.95Mmedian sale price
What is the 02420 housing market like right now?
The median home sale price in ZIP code 02420 is $1.95M, up 34.1% year-over-year. Homes sell in an average of 21 days with 57 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 02420 ZIP code a buyer's or seller's market?
ZIP code 02420 is currently a balanced market and homes selling in about 21 days. How we determine this →
What are the latest 02420 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $1.95M |
| Median list price | $1.80M |
| Year-over-year price change | +34.1% |
| Average days on market | 21 days |
| Active inventory | 57 listings |
| Sale-to-list price ratio | 100.4% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 02420 zip code, located in Lexington, MA, is currently classified as a balanced market. The median sale price stands at $1.95M, representing a +34.1% change year over year. Homes in this area spend an average of 21 days on the market before going under contract. There are currently 57 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 02420 sits in the Lexington, MA area, roughly 1.1 miles from downtown Lexington. Because home prices are set street by street, this ZIP can move differently from Lexington's citywide averages. The figures below reflect 02420 specifically — drawn from Redfin transactions, U.S. Census data for its 16,215 residents, and Zillow value estimates.
Homes sold
41
Last 12 weeks
Days on market
21
Average pace
Active listings
57
Sale-to-list
100.4%
Above asking
What is driving the 02420 housing market?
The 02420 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 100.4% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 02420 have increased +34.1% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 02420 stands at $1.57M, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $4,433 per month. This gives a price-to-rent ratio of approximately 29.6, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 02420?
Population
16,215
Median income
$245,031/yr
Median age
45.9 years
Owner-occupied
86.0%
College grads
85.5%
Avg commute
27.76 min
What is it like living in 02420?
Zip code 02420 is home to approximately 16,215 residents. The median household income is $245,031 per year, which shapes the types of homes and amenities available in the area. With a median age of 45.9 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 86.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 85.5% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 27.76 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 02420.
Which public schools serve ZIP 02420?
4 schools tracked · 2,177 students
The largest public schools serving ZIP code 02420 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Wm Diamond Middle
Grades 6-8 · 927 students
Joseph Estabrook
Grades K-5 · 537 students
Harrington
Grades K-5 · 378 students
Fiske
Grades K-5 · 335 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 02420
What is the median home price in 02420?
The current median sale price in 02420 is $1.95M, based on recent Redfin transaction data. Prices have changed +34.1% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 02420 a buyer's or seller's market?
The 02420 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 02420?
Zip code 02420 has a population of approximately 16,215 residents. The median household income is $245,031 per year. About 86.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 02420?
Properties Incorporated provides comprehensive data for 02420 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 02420 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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