Residences on Madison
5 Madison St,
Worcester, MA 01608
$1,810 - $3,715 Total Monthly Price
Studio - 2 Beds | 12 Month Lease
Area Guide
The Institute Park neighborhood is named after its namesake green space. The sprawling historic park has a lake and is a popular spot for summer concerts and events including Father’s Fest and Caribbean Festival. Along with Institute Park, the neighborhood has several parks like Elm Park, another historic 60-acre park, so residents have access to plenty of outdoor amenities. Located directly west of Downtown Worcester. Institute Park is home to Worcester Polytechnic Institute and Becker College, making it a great option for anyone looking to live near campus or the heart of the city. The neighborhood also has a thriving arts scene and houses several art galleries and the Worcester Museum of Art. Influenced by the two colleges, there are trendy eateries, coffee shops, pubs, and grocers located along Park Avenue and Highland Avenue. With newly built apartment buildings and historic houses available for rent, Institute Park merges suburban and urban living.
As of June 2026, the average apartment rent in Institute Park is $1,273 for a studio, $1,863 for one bedroom, $1,634 for two bedrooms, and $2,075 for three bedrooms. Apartment rent in Institute Park has increased by 2.9% in the past year.
Studio
509 sq ft
Average Sq Ft
$1,273/month
Average Rent
1 BR
693 sq ft
Average Sq Ft
$1,863/month
Average Rent
2 BR
735 sq ft
Average Sq Ft
$1,634/month
Average Rent
3 BR
963 sq ft
Average Sq Ft
$2,075/month
Average Rent
Explore how walkable, bikeable, drivable, and transit-friendly Institute Park - Worcester, MA is for everyday living.
Very Walkable
Walkability
Some Public Transit
Transit
Moderately Drivable
Drivability
Fairly Bikeable
Bikeability
Institute Park - Worcester, MA offers all daily essentials, but they’re limited to a few main areas.
Supermarket Within a 5 Minute Walk
Groceries
Good Restaurant Variety Nearby
Restaurants
Good Café Variety Nearby
Cafes
Fair Variety of Shops Nearby
Shopping
Get a sense of what it’s like to live in Institute Park - Worcester, MA from everyday activity to noise and nightlife.
Vibrant Atmosphere
Vibrancy
Fair Nightlife Variety Nearby
Nightlife
Somewhat Noisy
Quiet Score
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.