Fitchburg, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fitchburg Neighborhoods Since 2000




Fitchburg, 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

Fitchburg Housing Market Information

With a population of 40,545, 14,842 total housing units (homes and apartments), and a median house value of $210,568, Fitchburg real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Fitchburg homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Fitchburg, accounting for 39.36% of the city's housing units. Other types of housing that are prevalent in Fitchburg include duplexes, homes converted to apartments or other small apartment buildings ( 33.74%), large apartment complexes or high rise apartments ( 19.24%), and a few row houses and other attached homes ( 6.95%).

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

The housing in Fitchburg was primarily built before 1939 ( 46.55%), making the housing stock in Fitchburg some of the oldest overall in America, although there is a range of ages of homes in Fitchburg. The next most important housing age is between 1940-1969 ( 24.83%), followed by between 1970-1999 ( 19.73%). There's also some housing in Fitchburg built between 2000 and later ( 8.89%).

Vacant housing appears to be an issue in Fitchburg. Fully 12.85% of the housing stock is classified as vacant. Left unchecked, vacant Fitchburg homes and apartments can be a drag on the real estate market, holding Fitchburg 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.

Fitchburg Home Appreciation Rates

Homes have actually lost value in Fitchburg over the last then years, as home values have seen a decline of 23.50% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Fitchburg home appreciation rates at 0.33%, which equates to an annual appreciation rate of 1.33%.

NeighborhoodScout's data show that during the latest twelve months, Fitchburg's appreciation rate, at 5.21%, has been at or slightly above the national average. In the latest quarter, Fitchburg's appreciation rate has been 0.33%, which annualizes to a rate of 1.33%.

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

Average Home Values

 

Median Home Value:
$210,568

Fitchburg, MA HOME PRICES

Value Range
> $1,118,000 0.5
$838,001 - $1,118,000 0.2
$559,001 - $838,000 1.6
$447,001 - $559,000 1.3
$335,001 - $447,000 4.2
$224,001 - $335,000 27.7
$112,001 - $224,000 55.7
$56,001 - $112,000 6.5
$0 - $56,000 2.2

Very Low for MA
High for Nation

Value Relative to Nation Value Relative to State
29.7726473690379 94.2307692307692

Number Of Homes And Apartments:
14,842

Fitchburg 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
21.76% 1.15% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,182 / per month

Homeownership Rate

Homeownership
Owners 51.31
Renters 48.69
Vacant 12.85

Housing Market Details

 

Age of Homes

AGE OF Fitchburg HOMES
2000 or Newer 8.9
1970 - 1999 19.7
1940 - 1969 24.8
1939 or Older 46.6

Types of Homes

TYPE OF Fitchburg HOMES
Single-Family 39.4
Townhomes 6.9
Small Apt. Buildings 33.7
Apt. Complexes 19.2
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Fitchburg HOMES
No Bedroom 8.74
1 Bedroom 14.16
2 Bedrooms 28.71
3 Bedrooms 33.89
4 Bedrooms 10.20
5 or more bedrooms 4.30