Westborough appreciation rates and housing market information

Westborough housing market information

With 17,997 people, 6,773 houses or apartments, and a median cost of homes of $476,602, 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 55.56% of the town's housing units. Other types of housing that are prevalent in Westborough include large apartment complexes or high rise apartments (30.74%), duplexes, homes converted to apartments, or other small apartment buildings (9.01%), row houses and other attached homes (3.65%), and a few mobile homes or trailers (1.05%).

The most prevalent building size and type in Westborough are three and four bedroom single-family detached homes. The town has a mixture of owners and renters, with 62.17% owning, and 34.30% renting.

There is a lot of housing in Westborough 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 Westborough built from 1940-1969 (29.09%). A lesser amount of the housing stock also hails from 1939 and earlier (15.65%), and some were built from 1995 and later (15.65%).

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 97.15%, which ranks in the top 20% nationwide. This equates to an annual average Westborough house appreciation rate of 9.71%.

Over the last year, Westborough appreciation rates have trailed the rest of the nation. In the last twelve months, Westborough's appreciation rate has been -4.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westborough were at 0.23%, which equates to an annual appreciation rate of 0.92%.

Relative to Massachusetts, our data show that Westborough's latest annual appreciation rate is higher than 56% of the other cities and towns in Massachusetts.