$8,000 Per Month
- 4 Beds
- 3 Baths
- 2,000 Sq Ft
- Condo for Rent
14 Riverside Rd, Gloucester, MA 01930
14 Riverside Rd, Gloucester, MA 01930
Frequently Asked Questions
How much does it cost to rent a condo in Gloucester, MA?
The median rent for a condo in Gloucester, MA is $2,400 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Gloucester, MA?
To comfortably afford the median rent in Gloucester, MA, a household needs to earn roughly $117,480 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 $2,937 per month in Gloucester, MA, renters typically need to show $8,811 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 Gloucester, MA?
In Gloucester, MA, the price-to-rent ratio is 20.1, 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 Gloucester, MA are best for renting a condo?
The best neighborhood for renting in Gloucester, MA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include East Gloucester, Downtown Beverly, Derby Street, Downtown Salem and North Salem, each with its own character and price range.
