Lynn appreciation rates and housing market information

Lynn housing market information

With 89,122 people, 34,690 houses or apartments, and a median cost of homes of $263,853, Lynn real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Lynn homes are still considered rather expensive.

duplexes, homes converted to apartments, or other small apartment buildings are the single most common housing type in Lynn, accounting for 34.37% of the city's housing units. Other types of housing that are prevalent in Lynn include single-family detached homes (33.65%), large apartment complexes or high rise apartments (29.11%), and a few row houses and other attached homes (2.74%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Lynn primarily live in small (one, two, or no bedroom) units, chiefly found in duplexes, homes converted to apartments, or other small apartment buildings. Lynn has a mixture of owner-occupied and renter-occupied housing.

The housing in Lynn was primarily built before 1939 (50.19%), making the housing stock in Lynn some of the older overall in America, although there is a range of ages of homes in Lynn. The next most important Lynn housing age is 1940-1969 (30.86%), followed by 1970-1994 (17.72%). There's also some housing in Lynn built between 1995 and later (1.23%).

Lynn home appreciation rates

Lynn's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lynn during the period has been just 5.47%, which is lower than % of US communities.

Over the last year, Lynn appreciation rates have trailed the rest of the nation. In the last twelve months, Lynn's appreciation rate has been -7.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lynn were at -0.86%, which equates to an annual appreciation rate of -3.44%.

Notably, Lynn's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Massachusetts, our data show that Lynn's latest annual appreciation rate is higher than 10% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lynn differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lynn - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Lynn real estate investment or home purchase decisions.