Billerica, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Billerica, MA Real Estate Data


Billerica Housing Market Information

With 42,683 people, 14,225 houses or apartments, and a median cost of homes of $417,132, 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 2.56%, which ranks in the top 50% nationwide. This equates to an annual average Billerica house appreciation rate of 0.25%.

NeighborhoodScout's data show that during the latest twelve months, Billerica's appreciation rate, at 5.43%, has been at or slightly above the national average. In the latest quarter, Billerica's appreciation rate has been 1.20%, which annualizes to a rate of 4.89%.

Relative to Massachusetts, our data show that Billerica's latest annual appreciation rate is higher than 60% 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:
$417,132

Billerica, MA HOME PRICES

Value Range
> $1,166,000 0.4
$874,001 - $1,166,000 0.6
$583,001 - $874,000 8.8
$466,001 - $583,000 16.3
$350,001 - $466,000 44.8
$233,001 - $350,000 20.0
$117,001 - $233,000 5.9
$58,001 - $117,000 0.8
$0 - $58,000 2.3

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
8.47298722606352 37.5

Number Of Homes And Apartments:
14,225

Rent & Ownership

 

Average Market Rent:
$1,950 / 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

Billerica Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
52.00% 2.46% 6 6
* 10 is highest