Chelsea, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Chelsea Neighborhoods Since 2000




Chelsea, 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 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

Chelsea Housing Market Information

With a population of 39,398, 12,290 total housing units (homes and apartments), and a median house value of $389,612, real estate costs in Chelsea 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.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Chelsea, accounting for 48.10% of the city's housing units. Other types of housing that are prevalent in Chelsea include large apartment complexes or high rise apartments ( 38.89%), single-family detached homes ( 8.44%), and a few row houses and other attached homes ( 4.40%). 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.

Chelsea is dominated by renter-occupied one, two, or no bedrooms apartments. 72.63% of Chelsea's dwellings are rentals.

The housing in Chelsea was primarily built before 1939 ( 64.73%), making the housing stock in Chelsea some of the oldest overall in America, although there is a range of ages of homes in Chelsea. The next most important housing age is between 1970-1999 ( 14.42%), followed by between 2000 and later ( 11.22%). There's also some housing in Chelsea built between 1940-1969 ( 9.63%).

Chelsea Home Appreciation Rates

Appreciation rates for homes in Chelsea have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.52%, which ranks in the top 30% nationwide. This equates to an annual average Chelsea house appreciation rate of 0.91%.

Appreciation rates are so strong in Chelsea that despite a nationwide downturn in the housing market, Chelsea real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chelsea appreciation rates continue to be some of the highest in America, at 12.70%, which is higher than appreciation rates in 98.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chelsea. Chelsea appreciation rates in the latest quarter were at 1.07%, which equates to an annual appreciation rate of 4.36%.

Relative to Massachusetts, our data show that Chelsea'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 Chelsea differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chelsea - 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 Chelsea real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$389,612

Chelsea, MA HOME PRICES

Value Range
> $1,423,000 0.2
$1,067,001 - $1,423,000 0.7
$711,001 - $1,067,000 2.8
$569,001 - $711,000 6.5
$427,001 - $569,000 30.7
$285,001 - $427,000 31.5
$142,001 - $285,000 22.4
$71,001 - $142,000 4.1
$0 - $71,000 1.3

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
9.91444978319466 44.8717948717949

Number Of Homes And Apartments:
12,290

Chelsea Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
101.40% 4.14% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,817 / per month

Homeownership Rate

Homeownership
Owners 27.37
Renters 72.63
Vacant 5.02

Housing Market Details

 

Age of Homes

AGE OF Chelsea HOMES
2000 or Newer 11.2
1970 - 1999 14.4
1940 - 1969 9.6
1939 or Older 64.7

Types of Homes

TYPE OF Chelsea HOMES
Single-Family 8.4
Townhomes 4.4
Small Apt. Buildings 48.1
Apt. Complexes 38.9
Mobile Homes 0.0
Other 0.2

Home Size

SIZE OF Chelsea HOMES
No Bedroom 8.60
1 Bedroom 17.35
2 Bedrooms 38.43
3 Bedrooms 25.74
4 Bedrooms 7.40
5 or more bedrooms 2.48