Needham appreciation rates and housing market information

Needham housing market information

With a population of 28,911, 10,846 total housing units (homes and apartments), and a median house value of $762,788, Needham house prices are not only among the most expensive in Massachusetts, Needham real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Needham, accounting for 76.83% of the town's housing units. Other types of housing that are prevalent in Needham include large apartment complexes or high rise apartments (12.58%), duplexes, homes converted to apartments, or other small apartment buildings (7.50%), and a few row houses and other attached homes (2.92%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Needham. Owner-occupied housing accounts for 79.14% of Needham's homes, and 67.72% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Needham's housing was primarily built during this period, from the '40s through the '60s. A full 50.23% of the town's housing hails from this era. Other housing ages represented in Needham include homes built between 1939 and earlier (27.19%), and housing constructed from 1970-1994 (19.68%). There's also some housing in Needham built between 1995 and later (2.90%).

Needham home appreciation rates

In the last 10 years, Needham has experienced some of the highest home appreciation rates of any community in the nation. Needham real estate appreciated 113.98% over the last ten years, which is an average annual home appreciation rate of 11.39%, putting Needham in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Needham definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Needham appreciation rates have trailed the rest of the nation. In the last twelve months, Needham's appreciation rate has been -1.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Needham were at 0.15%, which equates to an annual appreciation rate of 0.60%.

Relative to Massachusetts, our data show that Needham's latest annual appreciation rate is higher than 89% 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 town. Individual neighborhoods within Needham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Needham - 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 Needham real estate investment or home purchase decisions.