Westborough appreciation rates and housing market information
Westborough housing market information
With 18,333 people, 6,924 houses or apartments, and a median cost of homes of $378,381, real estate costs in Westborough 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 Westborough, accounting for 53.31% of the town's housing units. Other types of housing that are prevalent in Westborough include large apartment complexes or high rise apartments (26.60%), duplexes, homes converted to apartments or other small apartment buildings (13.18%), and a few row houses and other attached homes (5.59%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westborough. Owner-occupied housing accounts for 67.11% of Westborough's homes, and 51.23% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Westborough built from 1970 to 1999 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 Westborough built between 1940-1969 (30.27%). A lesser amount of the housing stock also hails from before 1939 (12.42%). There's also some housing in Westborough built between 2000 and later (8.99%).
Westborough home appreciation rates
Appreciation rates for homes in Westborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.23%, which ranks in the top 40% nationwide. This equates to an annual average Westborough house appreciation rate of 1.16%.
Westborough real estate has held its value better than most communities. Looking at the latest twelve months, Westborough appreciation rates are some of the most stable in America, at 0.02%, which is higher than appreciation rates in 73.03% of the cities and towns in the nation. Based on the last twelve months, Westborough appreciation rates in the latest quarter were at 0.79%, which equates to an annual appreciation rate of 3.19%.
Relative to Massachusetts, our data show that Westborough's latest annual appreciation rate is lower than 60% of the other cities and towns in Massachusetts.