$3,500 Per Month
- 2 Beds
- 2 Baths
- 1,529 Sq Ft
- Condo for Rent
1 Powder Mill Square Unit 408, Andover, MA 01810
1 Powder Mill Square Unit 408, Andover, MA 01810
Frequently Asked Questions
How much does it cost to rent a home in Andover, MA?
The median rent for a home in Andover, MA is $2,800 per month, though prices vary by neighborhood, size, and property type. As of June 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 Andover, MA?
To comfortably afford the median rent in Andover, MA, a household needs to earn roughly $112,000 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 $2,800 per month in Andover, MA, renters typically need to show $8,400 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 Andover, MA?
In Andover, MA, the price-to-rent ratio is 29.5, 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 Andover, MA are best for renting a home?
The best neighborhood for renting in Andover, MA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Shawsheen Heights, East Andover, Far West Andover, Mount Vernon and South Common, each with its own character and price range.
