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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Beverly Housing Market Information

With 41,365 people, 16,229 houses or apartments, and a median cost of homes of $512,332, 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 51.94% of the city's housing units. Other types of housing that are prevalent in Beverly include large apartment complexes or high rise apartments ( 24.66%), duplexes, homes converted to apartments or other small apartment buildings ( 19.87%), and a few row houses and other attached homes ( 3.53%).

The most prevalent building size and type in Beverly are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.71% owning and 44.29% renting.

The housing in Beverly was primarily built before 1939 ( 40.18%), 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 ( 31.42%), followed by between 1970-1999 ( 23.17%). There's also some housing in Beverly built between 2000 and later ( 5.23%).

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 21.01%, which ranks in the top 30% nationwide. This equates to an annual average Beverly house appreciation rate of 1.93%.

NeighborhoodScout's data show that during the latest twelve months, Beverly's appreciation rate, at 5.70%, has been at or slightly above the national average. In the latest quarter, Beverly's appreciation rate has been 1.70%, which annualizes to a rate of 6.98%.

Relative to Massachusetts, our data show that Beverly's latest annual appreciation rate is higher 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:
$512,332

Beverly, MA HOME PRICES

Value Range
> $1,231,000 3.3
$924,001 - $1,231,000 3.4
$616,001 - $924,000 16.6
$492,001 - $616,000 18.4
$369,001 - $492,000 35.2
$246,001 - $369,000 16.0
$123,001 - $246,000 4.8
$61,001 - $123,000 0.3
$0 - $61,000 2.0

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
6.57518248175183 27.5641025641026

Number Of Homes And Apartments:
16,229

Beverly Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
63.89% 2.71%
6
7
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,747 / per month

Homeownership Rate

Homeownership
Owners 55.71
Renters 44.29
Vacant 5.88

Housing Market Details

 

Age of Homes

AGE OF Beverly HOMES
2000 or Newer 5.2
1970 - 1999 23.2
1940 - 1969 31.4
1939 or Older 40.2

Types of Homes

TYPE OF Beverly HOMES
Single-Family 51.9
Townhomes 3.5
Small Apt. Buildings 19.9
Apt. Complexes 24.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Beverly HOMES
No Bedroom 2.92
1 Bedroom 19.54
2 Bedrooms 25.09
3 Bedrooms 32.55
4 Bedrooms 16.09
5 or more bedrooms 3.82