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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Medford, MA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Medford, MA Housing Market Trends

With 65,399 people, 25,359 houses or apartments, and a median cost of homes of $830,064, real estate costs in Medford are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Medford, accounting for 33.61% of the city's housing units. Other types of housing that are prevalent in Medford include single-family detached homes ( 32.59%), large apartment complexes or high rise apartments ( 25.57%), and a few row houses and other attached homes ( 8.11%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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

The housing in Medford was primarily built before 1939 ( 48.31%), making the housing stock in Medford some of the oldest overall in America, although there is a range of ages of homes in Medford. The next most important housing age is between 1940-1969 ( 20.05%), followed by between 1970-1999 ( 19.23%). There's also some housing in Medford built between 2000 and later ( 12.41%).

Medford Home Appreciation Rates

Appreciation rates for homes in Medford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.02%, which ranks in the top 30% nationwide. This equates to an annual average Medford house appreciation rate of 7.18%.

NeighborhoodScout's data show that during the latest twelve months, Medford's appreciation rate, at 6.13%, has been at or slightly above the national average. In the latest quarter, Medford's appreciation rate has been 1.11%, which annualizes to a rate of 4.52%.

Relative to Massachusetts, our data show that Medford's latest annual appreciation rate is lower than 70% 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 Medford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Medford - 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 2000, to assist you in making the best Medford real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$830,064

Medford, MA Home Prices
> $1,220,000
$915,001 - $1,220,000
$610,001 - $915,000
$488,001 - $610,000
$366,001 - $488,000
$244,001 - $366,000
$122,001 - $244,000
$61,001 - $122,000
$0 - $61,000
7.2%
7.2%
26.8%
26.8%
45.7%
45.7%
9.5%
9.5%
4.7%
4.7%
2.2%
2.2%
1.1%
1.1%
1.1%
1.1%
1.6%
1.6%
0% 100.0%
% of Homes
High

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

25,359

Medford Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,245 / per month

Homeownership Rate

Owners
Renters
51.4%
51.4%
48.6%
48.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.2%
5.2%
94.8%
94.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.4%
12.4%
19.2%
19.2%
20.1%
20.1%
48.3%
48.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
32.6%
32.6%
8.1%
8.1%
33.6%
33.6%
25.6%
25.6%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.7%
1.7%
12.8%
12.8%
36.6%
36.6%
31.0%
31.0%
12.5%
12.5%
5.3%
5.3%
0% 100.0%
% of Homes