Beverly, MA Real Estate Market

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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Beverly, MA Housing Market Trends

With a population of 42,174, 16,443 total housing units (homes and apartments), and a median house value of $529,869, 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 49.72% of the city's housing units. Other types of housing that are prevalent in Beverly include large apartment complexes or high rise apartments ( 25.42%), duplexes, homes converted to apartments or other small apartment buildings ( 21.45%), and a few row houses and other attached homes ( 3.10%).

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 55.56% owning and 44.44% renting.

The housing in Beverly was primarily built before 1939 ( 39.42%), 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 ( 28.82%), followed by between 1970-1999 ( 24.97%). There's also some housing in Beverly built between 2000 and later ( 6.78%).

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 49.44%, which ranks in the top 30% nationwide. This equates to an annual average Beverly house appreciation rate of 4.10%.

NeighborhoodScout's data show that during the latest twelve months, Beverly's appreciation rate, at 6.17%, has been at or slightly above the national average. In the latest quarter, Beverly's appreciation rate has been 1.51%, which annualizes to a rate of 6.19%.

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:
$529,869

Beverly, MA HOME PRICES

> $1,197,000
3.0%
3.0%
$898,001 - $1,197,000
5.5%
5.5%
$599,001 - $898,000
24.9%
24.9%
$479,001 - $599,000
24.7%
24.7%
$359,001 - $479,000
26.9%
26.9%
$239,001 - $359,000
10.2%
10.2%
$120,001 - $239,000
3.8%
3.8%
$60,001 - $120,000
0.1%
0.1%
$0 - $60,000
1.0%
1.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for MA

Value Relative To Nation

Number Of Homes And Apartments:
16,443

Beverly Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
85.54% 2.95%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,294 / per month

Homeownership Rate

Owners
55.6%
55.6%
Renters
44.4%
44.4%
Vacant
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.8%
6.8%
1970 - 1999
25.0%
25.0%
1940 - 1969
28.8%
28.8%
1939 or Older
39.4%
39.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
49.7%
49.7%
Townhomes
3.1%
3.1%
Small Apt. Buildings
21.5%
21.5%
Apt. Complexes
25.4%
25.4%
Mobile Homes
0.0%
0.0%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.2%
4.2%
1 Bedroom
17.8%
17.8%
2 Bedrooms
25.7%
25.7%
3 Bedrooms
30.6%
30.6%
4 Bedrooms
17.2%
17.2%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES