New Bedford appreciation rates and housing market information

New Bedford housing market information

With 93,768 people, 41,511 houses or apartments, and a median cost of homes of $246,083, New Bedford real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, New Bedford homes are still considered rather expensive.

duplexes, homes converted to apartments, or other small apartment buildings are the single most common housing type in New Bedford, accounting for 47.56% of the city's housing units. Other types of housing that are prevalent in New Bedford include single-family detached homes (30.16%), large apartment complexes or high rise apartments (19.06%), and a few row houses and other attached homes (2.92%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

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

The housing in New Bedford was primarily built before 1939 (49.91%), making the housing stock in New Bedford some of the older overall in America, although there is a range of ages of homes in New Bedford. The next most important New Bedford housing age is 1940-1969 (32.76%), followed by 1970-1994 (15.95%). There's also some housing in New Bedford built between 1995 and later (1.38%).

New Bedford home appreciation rates

Appreciation rates for homes in New Bedford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.13%, which ranks in the top 30% nationwide. This equates to an annual average New Bedford house appreciation rate of 9.51%.

Over the last year, New Bedford appreciation rates have trailed the rest of the nation. In the last twelve months, New Bedford's appreciation rate has been -7.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Bedford were at 0.01%, which equates to an annual appreciation rate of 0.04%.

Relative to Massachusetts, our data show that New Bedford's latest annual appreciation rate is higher than 3% 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 New Bedford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Bedford - 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 New Bedford real estate investment or home purchase decisions.