Dracut MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Dracut, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Dracut Housing Market Information

With 31,747 people, 11,274 houses or apartments, and a median cost of homes of $385,689, real estate costs in Dracut 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.

Single-family detached homes are the single most common housing type in Dracut, accounting for 68.72% of the town's housing units. Other types of housing that are prevalent in Dracut include large apartment complexes or high rise apartments ( 19.43%), duplexes, homes converted to apartments or other small apartment buildings ( 7.35%), and a few row houses and other attached homes ( 4.49%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Dracut. Owner-occupied housing accounts for 79.09% of Dracut's homes, and 59.03% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Dracut built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Dracut built between 1940-1969 ( 25.22%). A lesser amount of the housing stock also hails from before 1939 ( 14.91%). There's also some housing in Dracut built between 2000 and later ( 11.49%).

Dracut Home Appreciation Rates

Appreciation rates for homes in Dracut have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 38.61%, which ranks in the top 30% nationwide. This equates to an annual average Dracut house appreciation rate of 3.32%.

Over the last year, Dracut appreciation rates have trailed the rest of the nation. In the last twelve months, Dracut's appreciation rate has been 3.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dracut were at 1.20%, which equates to an annual appreciation rate of 4.87%.

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

Average Home Values

 

Median Home Value:
$385,689

Dracut, MA HOME PRICES

Value Range
> $1,208,000 0.9
$906,001 - $1,208,000 1.5
$604,001 - $906,000 7.0
$483,001 - $604,000 12.9
$362,001 - $483,000 32.1
$242,001 - $362,000 30.0
$121,001 - $242,000 12.4
$61,001 - $121,000 1.0
$0 - $61,000 2.3

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
13.021897810219 58.0128205128205

Number Of Homes And Apartments:
11,274

Dracut Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
77.53% 2.87%
6
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,286 / per month

Homeownership Rate

Homeownership
Owners 79.09
Renters 20.91
Vacant 2.97

Housing Market Details

 

Age of Homes

AGE OF Dracut HOMES
2000 or Newer 11.5
1970 - 1999 48.4
1940 - 1969 25.2
1939 or Older 14.9

Types of Homes

TYPE OF Dracut HOMES
Single-Family 68.7
Townhomes 4.5
Small Apt. Buildings 7.4
Apt. Complexes 19.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Dracut HOMES
No Bedroom 0.89
1 Bedroom 4.54
2 Bedrooms 31.78
3 Bedrooms 41.23
4 Bedrooms 17.81
5 or more bedrooms 3.77