$3,495 Per Month
- 2 Beds
- 2 Baths
- 1,379 Sq Ft
- Condo for Rent
204 Spencer Ave Unit 10, Chelsea, MA 02150
204 Spencer Ave Unit 10, Chelsea, MA 02150
Frequently Asked Questions
How much does it cost to rent a condo in Chelsea, MA?
The median rent for a condo in Chelsea, MA is $2,500 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Chelsea, MA?
To comfortably afford the median rent in Chelsea, MA, a household needs to earn roughly $99,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,497 per month in Chelsea, MA, renters typically need to show $7,491 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Chelsea, MA?
In Chelsea, MA, the price-to-rent ratio is 15.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Chelsea, MA are best for renting a condo?
The best neighborhood for renting in Chelsea, MA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Broadway, Soldiers Home, Bellingham Square, Admirals Hill and Eagle Hill, each with its own character and price range.
