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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Dracut Housing Market Information

With a population of 31,747, 11,234 total housing units (homes and apartments), and a median house value of $392,564, 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 66.58% of the town's housing units. Other types of housing that are prevalent in Dracut include large apartment complexes or high rise apartments ( 19.72%), duplexes, homes converted to apartments or other small apartment buildings ( 8.52%), and a few row houses and other attached homes ( 5.05%).

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 76.42% of Dracut's homes, and 57.38% 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 ( 23.83%). A lesser amount of the housing stock also hails from before 1939 ( 16.75%). There's also some housing in Dracut built between 2000 and later ( 11.11%).

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 33.91%, which ranks in the top 30% nationwide. This equates to an annual average Dracut house appreciation rate of 2.96%.

NeighborhoodScout's data show that during the latest twelve months, Dracut's appreciation rate, at 3.59%, has been at or slightly above the national average. In the latest quarter, Dracut's appreciation rate has been 1.12%, which annualizes to a rate of 4.56%.

Relative to Massachusetts, our data show that Dracut'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 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:
$392,564

Dracut, MA HOME PRICES

Value Range
> $1,267,000 0.9
$950,001 - $1,267,000 1.8
$633,001 - $950,000 7.7
$507,001 - $633,000 10.9
$380,001 - $507,000 29.8
$254,001 - $380,000 32.3
$127,001 - $254,000 14.1
$63,001 - $127,000 1.1
$0 - $63,000 1.4

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
12.2277372262774 54.4871794871795

Number Of Homes And Apartments:
11,234

Dracut Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2019 Q3
75.34% 2.88%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,113 / per month

Homeownership Rate

Homeownership
Owners 76.42
Renters 23.58
Vacant 2.68

Housing Market Details

 

Age of Homes

AGE OF Dracut HOMES
2000 or Newer 11.1
1970 - 1999 48.3
1940 - 1969 23.8
1939 or Older 16.8

Types of Homes

TYPE OF Dracut HOMES
Single-Family 66.6
Townhomes 5.1
Small Apt. Buildings 8.5
Apt. Complexes 19.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Dracut HOMES
No Bedroom 0.55
1 Bedroom 4.89
2 Bedrooms 32.86
3 Bedrooms 40.31
4 Bedrooms 17.07
5 or more bedrooms 4.31