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Sarah Mitchell
Compass Real Estate · ZIP 02740
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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02740 ZIP Code Housing Market
$490,000median sale price
What is the 02740 housing market like right now?
The median home sale price in ZIP code 02740 is $490,000, up 5.7% year-over-year. Homes sell in an average of 32 days with 77 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 02740 ZIP code a buyer's or seller's market?
ZIP code 02740 is currently a balanced market and homes selling in about 32 days. How we determine this →
What are the latest 02740 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $490,000 |
| Median list price | $475,000 |
| Year-over-year price change | +5.7% |
| Average days on market | 32 days |
| Active inventory | 77 listings |
| Sale-to-list price ratio | 100.2% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 02740 zip code, located in New Bedford, MA, is currently classified as a balanced market. The median sale price stands at $490,000, representing a +5.7% change year over year. Homes in this area spend an average of 32 days on the market before going under contract. There are currently 77 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 02740 sits in the New Bedford, MA area, roughly 1.6 miles from downtown New Bedford. Because home prices are set street by street, this ZIP can move differently from New Bedford's citywide averages. The figures below reflect 02740 specifically — drawn from Redfin transactions, U.S. Census data for its 46,281 residents, and Zillow value estimates.
Homes sold
58
Last 12 weeks
Days on market
32
Average pace
Active listings
77
Sale-to-list
100.2%
Above asking
What is driving the 02740 housing market?
The 02740 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 100.2% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 02740 have increased +5.7% 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 02740 stands at $434,663, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,977 per month. This gives a price-to-rent ratio of approximately 18.3, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 02740?
Population
46,281
Median income
$55,237/yr
Median age
38.1 years
Owner-occupied
39.6%
College grads
17.3%
Avg commute
21.62 min
What is it like living in 02740?
Zip code 02740 is home to approximately 46,281 residents. The median household income is $55,237 per year, which shapes the types of homes and amenities available in the area. With a median age of 38.1 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 39.6% of housing units are owner-occupied, reflecting a predominantly renter-occupied area that may appeal to investors looking for rental income opportunities.
About 17.3% 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 21.62 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 02740.
Which public schools serve ZIP 02740?
12 schools tracked · 6,766 students
The largest public schools serving ZIP code 02740 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.
New Bedford High
Grades 9-12 · 2,893 students
Keith Middle School
Grades 6-8 · 872 students
Sgt Wm H Carney Academy
Grades PK-5 · 613 students
Alfred J Gomes
Grades PK-5 · 610 students
James B Congdon
Grades K-5 · 301 students
John Avery Parker
Grades PK-5 · 264 students
Elizabeth Carter Brooks
Grades K-5 · 264 students
Ellen R Hathaway
Grades PK-5 · 245 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 02740
What is the median home price in 02740?
The current median sale price in 02740 is $490,000, based on recent Redfin transaction data. Prices have changed +5.7% 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 02740 a buyer's or seller's market?
The 02740 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 02740?
Zip code 02740 has a population of approximately 46,281 residents. The median household income is $55,237 per year. About 39.6% 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 02740?
Properties Incorporated provides comprehensive data for 02740 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 02740 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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