Northborough appreciation rates and housing market information

Northborough housing market information

With 14,013 people, 5,002 houses or apartments, and a median cost of homes of $428,456, real estate costs in Northborough 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.

single-family detached homes are the single most common housing type in Northborough, accounting for 80.65% of the town's housing units. Other types of housing that are prevalent in Northborough include duplexes, homes converted to apartments, or other small apartment buildings (10.18%), row houses and other attached homes (4.54%), and a few large apartment complexes or high rise apartments (4.48%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Northborough. Owner-occupied housing accounts for 82.51% of Northborough's homes, and 71.55% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Northborough built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Northborough built from 1940-1969 (34.45%). A lesser amount of the housing stock also hails from 1939 and earlier (14.33%), and some were built from 1995 and later (14.33%).

Northborough home appreciation rates

Appreciation rates for homes in Northborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.87%, which ranks in the top 30% nationwide. This equates to an annual average Northborough house appreciation rate of 9.48%.

Over the last year, Northborough appreciation rates have trailed the rest of the nation. In the last twelve months, Northborough's appreciation rate has been -4.34%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northborough were at 0.17%, which equates to an annual appreciation rate of 0.68%.

Relative to Massachusetts, our data show that Northborough's latest annual appreciation rate is higher than 51% of the other cities and towns in Massachusetts.