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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 10,385, 4,707 total housing units (homes and apartments), and a median house value of $352,477, Ware real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Ware homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Ware, accounting for 58.40% of the town's housing units. Other types of housing that are prevalent in Ware include duplexes, homes converted to apartments or other small apartment buildings ( 24.17%), large apartment complexes or high rise apartments ( 9.32%), and a few row houses and other attached homes ( 4.49%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ware. Owner-occupied housing accounts for 70.13% of Ware's homes, and 57.24% have either three or four bedrooms, which is average sized relative to America.
The housing in Ware was primarily built before 1939 ( 34.00%), making the housing stock in Ware some of the oldest overall in America, although there is a range of ages of homes in Ware. The next most important housing age is between 1970-1999 ( 29.97%), followed by between 1940-1969 ( 24.50%). There's also some housing in Ware built between 2000 and later ( 11.53%).
Ware's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ware during the period has been just 5.16%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Ware's appreciation rate, at 6.30%, has been at or slightly above the national average. In the latest quarter, Ware's appreciation rate has been 3.19%, which annualizes to a rate of 13.40%.
Importantly, this makes Ware one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Massachusetts, our data show that Ware's latest annual appreciation rate is higher than 50% of the other cities and towns in Massachusetts.
$352,477
for Massachusetts
for nation
4,707
$1,871 / per month