Boston, MA


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 Q1 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

Boston Housing Market Information

With 673,184 people, 259,324 houses or apartments, and a median cost of homes of $528,159, 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 43.17% 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 ( 38.08%), single-family detached homes ( 12.21%), and a few row houses and other attached homes ( 6.36%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Boston is dominated by renter-occupied one, two, or no bedrooms apartments. 67.86% of Boston's dwellings are rentals.

The housing in Boston was primarily built before 1939 ( 52.45%), 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 ( 21.09%), followed by between 1970-1999 ( 17.85%). There's also some housing in Boston built between 2000 and later ( 8.61%).

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 42.05% over the last ten years, which is an average annual home appreciation rate of 3.57%, 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 7.58%, which is higher than appreciation rates in 73.68% 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 1.28%, which equates to an annual appreciation rate of 5.22%.

Relative to Massachusetts, our data show that Boston'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 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:


Value Range
> $1,314,798 6.8
$986,296 - $1,314,798 4.8
$657,533 - $986,295 20.8
$526,030 - $657,532 17.2
$394,267 - $526,029 23.2
$263,001 - $394,266 17.8
$131,451 - $263,000 5.8
$65,875 - $131,450 0.6
$0 - $65,874 2.8

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
5.97372262773723 23.0769230769231

Number Of Homes And Apartments:

Boston Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
116.30% 4.32%
* 10 is highest

Rent & Ownership


Average Market Rent:
$2,169 / per month

Homeownership Rate

Owners 32.14
Renters 67.86
Vacant 7.85

Housing Market Details


Age of Homes

2000 or Newer 8.6
1970 - 1999 17.8
1940 - 1969 21.1
1939 or Older 52.4

Types of Homes

Single-Family 12.2
Townhomes 6.4
Small Apt. Buildings 38.1
Apt. Complexes 43.2
Mobile Homes 0.1
Other 0.1

Home Size

No Bedroom 6.58
1 Bedroom 25.51
2 Bedrooms 34.18
3 Bedrooms 22.90
4 Bedrooms 7.91
5 or more bedrooms 2.93