Boston MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Boston, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Boston Housing Market Information

With 685,094 people, 263,229 houses or apartments, and a median cost of homes of $569,298, real estate costs in Boston 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.

Large apartment complexes or high rise apartments are the single most common housing type in Boston, accounting for 43.40% of the city's housing units. Other types of housing that are prevalent in Boston include duplexes, homes converted to apartments or other small apartment buildings ( 37.77%), single-family detached homes ( 12.26%), and a few row houses and other attached homes ( 6.40%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Boston is dominated by renter-occupied one, two, or no bedrooms apartments. 67.18% of Boston's dwellings are rentals.

The housing in Boston was primarily built before 1939 ( 51.27%), making the housing stock in Boston some of the oldest overall in America, although there is a range of ages of homes in Boston. The next most important housing age is between 1940-1969 ( 21.43%), followed by between 1970-1999 ( 17.76%). There's also some housing in Boston built between 2000 and later ( 9.54%).

Boston Home Appreciation Rates

In the last 10 years, Boston has experienced some of the highest home appreciation rates of any community in the nation. Boston real estate appreciated 69.51% over the last ten years, which is an average annual home appreciation rate of 5.42%, putting Boston in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Boston definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Boston that despite a nationwide downturn in the housing market, Boston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Boston appreciation rates continue to be some of the highest in America, at 5.37%, which is higher than appreciation rates in 77.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Boston. Boston appreciation rates in the latest quarter were at 0.29%, which equates to an annual appreciation rate of 1.18%.

Relative to Massachusetts, our data show that Boston's latest annual appreciation rate is higher than 90% 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 Boston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Boston - 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 Boston real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$569,298

Boston, MA HOME PRICES

Value Range
> $1,316,000 7.8
$987,001 - $1,316,000 6.3
$658,001 - $987,000 24.2
$526,001 - $658,000 18.5
$395,001 - $526,000 21.6
$263,001 - $395,000 13.9
$132,001 - $263,000 4.9
$66,001 - $132,000 0.4
$0 - $66,000 2.5

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
5.36642335766423 20.1923076923077

Number Of Homes And Apartments:
263,229

Boston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
136.95% 4.52%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,382 / per month

Homeownership Rate

Homeownership
Owners 32.82
Renters 67.18
Vacant 7.85

Housing Market Details

 

Age of Homes

AGE OF Boston HOMES
2000 or Newer 9.5
1970 - 1999 17.8
1940 - 1969 21.4
1939 or Older 51.3

Types of Homes

TYPE OF Boston HOMES
Single-Family 12.3
Townhomes 6.4
Small Apt. Buildings 37.8
Apt. Complexes 43.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Boston HOMES
No Bedroom 6.66
1 Bedroom 25.12
2 Bedrooms 34.59
3 Bedrooms 23.11
4 Bedrooms 7.73
5 or more bedrooms 2.79