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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 118,977, 44,234 total housing units (homes and apartments), and a median house value of $808,720, Cambridge house prices are not only among the most expensive in Massachusetts, Cambridge real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Cambridge, accounting for 54.75% of the city's housing units. Other types of housing that are prevalent in Cambridge include duplexes, homes converted to apartments or other small apartment buildings ( 29.76%), single-family detached homes ( 9.14%), and a few row houses and other attached homes ( 6.18%). 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.
Cambridge is dominated by renter-occupied one, two, or no bedrooms apartments. 69.36% of Cambridge's dwellings are rentals.
The housing in Cambridge was primarily built before 1939 ( 49.71%), making the housing stock in Cambridge some of the oldest overall in America, although there is a range of ages of homes in Cambridge. The next most important housing age is between 1970-1999 ( 19.70%), followed by between 1940-1969 ( 19.50%). There's also some housing in Cambridge built between 2000 and later ( 11.10%).
Vacant housing appears to be an issue in Cambridge. Fully 10.75% of the housing stock is classified as vacant. Left unchecked, vacant Cambridge homes and apartments can be a drag on the real estate market, holding Cambridge real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Cambridge has experienced some of the highest home appreciation rates of any community in the nation. Cambridge real estate appreciated 53.13% over the last ten years, which is an average annual home appreciation rate of 4.35%, putting Cambridge in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Cambridge definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Cambridge's appreciation rate, at 3.97%, has been at or slightly above the national average. In the latest quarter, Cambridge's appreciation rate has been 1.12%, which annualizes to a rate of 4.56%.
Relative to Massachusetts, our data show that Cambridge's latest annual appreciation rate is higher than 80% 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 Cambridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cambridge - 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 Cambridge real estate investment or home purchase decisions.
|$934,001 - $1,246,000||19.7|
|$623,001 - $934,000||30.1|
|$498,001 - $623,000||13.2|
|$374,001 - $498,000||9.6|
|$249,001 - $374,000||3.9|
|$125,001 - $249,000||2.0|
|$62,001 - $125,000||0.5|
|$0 - $62,000||1.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Cambridge HOMES|
|2000 or Newer||11.1|
|1970 - 1999||19.7|
|1940 - 1969||19.5|
|1939 or Older||49.7|
|TYPE OF Cambridge HOMES|
|Small Apt. Buildings||29.8|
|SIZE OF Cambridge HOMES|
|5 or more bedrooms||2.85|