Chicopee, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Chicopee Neighborhoods Since 2000




Chicopee, 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

Chicopee Housing Market Information

With 56,741 people, 22,993 houses or apartments, and a median cost of homes of $184,975, Chicopee real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Chicopee homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Chicopee, accounting for 44.75% of the city's housing units. Other types of housing that are prevalent in Chicopee include duplexes, homes converted to apartments or other small apartment buildings ( 28.57%), large apartment complexes or high rise apartments ( 18.82%), and a few row houses and other attached homes ( 5.65%).

People in Chicopee primarily live in small (one, two or no bedroom) single-family detached homes. Chicopee has a mixture of owner-occupied and renter-occupied housing.

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. Chicopee's housing was primarily built during this period, from the '40s through the '60s. A full 40.98% of the city's housing hails from this era. Other housing ages represented in Chicopee include homes built before 1939 ( 34.31%) and housing constructed between 1970-1999 ( 21.30%). There's also some housing in Chicopee built between 2000 and later ( 3.42%).

Chicopee Home Appreciation Rates

Chicopee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Chicopee during the period has been just -1.11%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Chicopee's appreciation rate, at 3.95%, has been at or slightly above the national average. In the latest quarter, Chicopee's appreciation rate has been 1.15%, which annualizes to a rate of 4.66%.

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

Average Home Values

 

Median Home Value:
$184,975

Chicopee, MA HOME PRICES

Value Range
> $1,051,000 0.2
$788,001 - $1,051,000 0.0
$525,001 - $788,000 0.7
$421,001 - $525,000 0.3
$315,001 - $421,000 2.2
$210,001 - $315,000 24.1
$105,001 - $210,000 63.8
$52,001 - $105,000 3.8
$0 - $52,000 4.9

Very Low for MA
High for Nation

Value Relative to Nation Value Relative to State
36.4408765967421 96.7948717948718

Number Of Homes And Apartments:
22,993

Chicopee 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
49.01% 2.34% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,185 / per month

Homeownership Rate

Homeownership
Owners 55.48
Renters 44.52
Vacant 7.28

Housing Market Details

 

Age of Homes

AGE OF Chicopee HOMES
2000 or Newer 3.4
1970 - 1999 21.3
1940 - 1969 41.0
1939 or Older 34.3

Types of Homes

TYPE OF Chicopee HOMES
Single-Family 44.7
Townhomes 5.6
Small Apt. Buildings 28.6
Apt. Complexes 18.8
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Chicopee HOMES
No Bedroom 2.67
1 Bedroom 14.32
2 Bedrooms 35.71
3 Bedrooms 36.41
4 Bedrooms 8.68
5 or more bedrooms 2.21