Framingham, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Framingham Neighborhoods Since 2000




Framingham, 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

Framingham Housing Market Information

With a population of 71,209, 27,028 total housing units (homes and apartments), and a median house value of $389,865, real estate costs in Framingham 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 Framingham, accounting for 50.18% of the town's housing units. Other types of housing that are prevalent in Framingham include large apartment complexes or high rise apartments ( 30.61%), duplexes, homes converted to apartments or other small apartment buildings ( 14.88%), and a few row houses and other attached homes ( 4.15%).

The most prevalent building size and type in Framingham are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 51.90% owning and 48.10% renting.

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. Framingham's housing was primarily built during this period, from the '40s through the '60s. A full 47.61% of the town's housing hails from this era. Other housing ages represented in Framingham include homes built between 1970-1999 ( 28.34%) and housing constructed before 1939 ( 21.48%). There's also some housing in Framingham built between 2000 and later ( 2.57%).

Framingham Home Appreciation Rates

Real estate appreciation rates in Framingham's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.11% during the period.

NeighborhoodScout's data show that during the latest twelve months, Framingham's appreciation rate, at 4.70%, has been at or slightly above the national average. In the latest quarter, Framingham's appreciation rate has been 1.07%, which annualizes to a rate of 4.36%.

Relative to Massachusetts, our data show that Framingham's latest annual appreciation rate is higher than 50% 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 Framingham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Framingham - 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 Framingham real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$389,865

Framingham, MA HOME PRICES

Value Range
> $1,167,000 0.8
$875,001 - $1,167,000 1.3
$583,001 - $875,000 8.8
$467,001 - $583,000 16.0
$350,001 - $467,000 29.7
$234,001 - $350,000 24.7
$117,001 - $234,000 11.4
$58,001 - $117,000 3.2
$0 - $58,000 4.2

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
9.88515176374077 44.5512820512821

Number Of Homes And Apartments:
27,028

Framingham 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
40.58% 1.99% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,767 / per month

Homeownership Rate

Homeownership
Owners 51.90
Renters 48.10
Vacant 3.28

Housing Market Details

 

Age of Homes

AGE OF Framingham HOMES
2000 or Newer 2.6
1970 - 1999 28.3
1940 - 1969 47.6
1939 or Older 21.5

Types of Homes

TYPE OF Framingham HOMES
Single-Family 50.2
Townhomes 4.1
Small Apt. Buildings 14.9
Apt. Complexes 30.6
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Framingham HOMES
No Bedroom 3.90
1 Bedroom 18.19
2 Bedrooms 25.38
3 Bedrooms 30.98
4 Bedrooms 17.69
5 or more bedrooms 3.86