Beverly MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Beverly, MA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Beverly Housing Market Information

With 42,312 people, 16,687 houses or apartments, and a median cost of homes of $528,788, real estate costs in Beverly 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 Beverly, accounting for 51.43% of the city's housing units. Other types of housing that are prevalent in Beverly include large apartment complexes or high rise apartments ( 25.46%), duplexes, homes converted to apartments or other small apartment buildings ( 20.17%), and a few row houses and other attached homes ( 2.94%).

People in Beverly primarily live in small (one, two or no bedroom) single-family detached homes. Beverly has a mixture of owner-occupied and renter-occupied housing.

The housing in Beverly was primarily built before 1939 ( 40.87%), making the housing stock in Beverly some of the oldest overall in America, although there is a range of ages of homes in Beverly. The next most important housing age is between 1940-1969 ( 28.76%), followed by between 1970-1999 ( 24.47%). There's also some housing in Beverly built between 2000 and later ( 5.90%).

Beverly Home Appreciation Rates

Appreciation rates for homes in Beverly have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 41.97%, which ranks in the top 30% nationwide. This equates to an annual average Beverly house appreciation rate of 3.57%.

NeighborhoodScout's data show that during the latest twelve months, Beverly's appreciation rate, at 4.11%, has been at or slightly above the national average. In the latest quarter, Beverly's appreciation rate has been 0.97%, which annualizes to a rate of 3.96%.

Relative to Massachusetts, our data show that Beverly's latest annual appreciation rate is lower than 50% 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 Beverly differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Beverly - 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 2000, to assist you in making the best Beverly real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$528,788

Beverly, MA HOME PRICES

Value Range
> $1,206,000 2.4
$905,001 - $1,206,000 5.2
$603,001 - $905,000 22.2
$482,001 - $603,000 22.3
$362,001 - $482,000 31.0
$241,001 - $362,000 11.1
$121,001 - $241,000 4.2
$60,001 - $121,000 0.1
$0 - $60,000 1.5

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
6.87883211678832 29.4871794871795

Number Of Homes And Apartments:
16,687

Beverly Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
77.85% 2.85%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,120 / per month

Homeownership Rate

Homeownership
Owners 56.32
Renters 43.68
Vacant 4.72

Housing Market Details

 

Age of Homes

AGE OF Beverly HOMES
2000 or Newer 5.9
1970 - 1999 24.5
1940 - 1969 28.8
1939 or Older 40.9

Types of Homes

TYPE OF Beverly HOMES
Single-Family 51.4
Townhomes 2.9
Small Apt. Buildings 20.2
Apt. Complexes 25.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Beverly HOMES
No Bedroom 4.27
1 Bedroom 18.65
2 Bedrooms 25.55
3 Bedrooms 30.12
4 Bedrooms 16.82
5 or more bedrooms 4.60