Billerica, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Billerica, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Billerica Housing Market Information

With 42,683 people, 14,225 houses or apartments, and a median cost of homes of $435,371, real estate costs in Billerica 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 Billerica, accounting for 76.33% of the town's housing units. Other types of housing that are prevalent in Billerica include large apartment complexes or high rise apartments ( 13.70%), duplexes, homes converted to apartments or other small apartment buildings ( 5.21%), and a few row houses and other attached homes ( 3.55%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Billerica. Owner-occupied housing accounts for 79.54% of Billerica's homes, and 65.09% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Billerica's housing was primarily built during this period, from the '40s through the '60s. A full 40.72% of the town's housing hails from this era. Other housing ages represented in Billerica include homes built between 1970-1999 ( 36.06%) and housing constructed between 2000 and later ( 12.71%). There's also some housing in Billerica built before 1939 ( 10.52%).

Billerica Home Appreciation Rates

Appreciation rates for homes in Billerica have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.75%, which ranks in the top 40% nationwide. This equates to an annual average Billerica house appreciation rate of 0.93%.

Appreciation rates are so strong in Billerica that despite a nationwide downturn in the housing market, Billerica real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Billerica appreciation rates continue to be some of the highest in America, at 7.23%, which is higher than appreciation rates in 77.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Billerica. Billerica appreciation rates in the latest quarter were at 3.00%, which equates to an annual appreciation rate of 12.53%.

Relative to Massachusetts, our data show that Billerica's latest annual appreciation rate is higher than 70% 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 town. Individual neighborhoods within Billerica differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Billerica - 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 Billerica real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$435,371

Billerica, MA HOME PRICES

Value Range
> $1,217,000 0.5
$912,001 - $1,217,000 0.6
$608,001 - $912,000 8.8
$487,001 - $608,000 16.3
$365,001 - $487,000 44.8
$243,001 - $365,000 20.0
$122,001 - $243,000 5.9
$61,001 - $122,000 0.8
$0 - $61,000 2.3

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
8.39042098483518 37.1794871794872

Number Of Homes And Apartments:
14,225

Billerica Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
58.60% 2.67% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,125 / per month

Homeownership Rate

Homeownership
Owners 79.54
Renters 20.46
Vacant 3.31

Housing Market Details

 

Age of Homes

AGE OF Billerica HOMES
2000 or Newer 12.7
1970 - 1999 36.1
1940 - 1969 40.7
1939 or Older 10.5

Types of Homes

TYPE OF Billerica HOMES
Single-Family 76.3
Townhomes 3.6
Small Apt. Buildings 5.2
Apt. Complexes 13.7
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Billerica HOMES
No Bedroom 0.59
1 Bedroom 7.15
2 Bedrooms 21.45
3 Bedrooms 45.16
4 Bedrooms 19.93
5 or more bedrooms 5.72