Leominster, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Leominster Neighborhoods Since 2000




Leominster, 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

Leominster Housing Market Information

With 41,569 people, 16,772 houses or apartments, and a median cost of homes of $266,060, Leominster real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Leominster homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Leominster, accounting for 44.58% of the city's housing units. Other types of housing that are prevalent in Leominster include large apartment complexes or high rise apartments ( 26.68%), duplexes, homes converted to apartments or other small apartment buildings ( 22.25%), and a few row houses and other attached homes ( 5.28%).

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

There is a lot of housing in Leominster 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 Leominster built before 1939 ( 27.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 27.70%). There's also some housing in Leominster built between 2000 and later ( 6.37%).

Leominster Home Appreciation Rates

Leominster's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Leominster during the period has been just -1.39%, which is lower than 80% of US communities.

Appreciation rates are so strong in Leominster that despite a nationwide downturn in the housing market, Leominster real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Leominster appreciation rates continue to be some of the highest in America, at 6.70%, which is higher than appreciation rates in 79.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Leominster. Leominster appreciation rates in the latest quarter were at 0.33%, which equates to an annual appreciation rate of 1.33%.

Relative to Massachusetts, our data show that Leominster's latest annual appreciation rate is higher than 80% 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 Leominster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Leominster - 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 Leominster real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$266,060

Leominster, MA HOME PRICES

Value Range
> $1,151,000 0.9
$863,001 - $1,151,000 0.0
$575,001 - $863,000 1.3
$460,001 - $575,000 2.9
$345,001 - $460,000 15.8
$230,001 - $345,000 38.1
$115,001 - $230,000 32.9
$57,001 - $115,000 5.6
$0 - $57,000 2.4

Very Low for MA
High for Nation

Value Relative to Nation Value Relative to State
20.2625102543068 81.4102564102564

Number Of Homes And Apartments:
16,772

Leominster 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
37.06% 1.84% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,130 / per month

Homeownership Rate

Homeownership
Owners 54.57
Renters 45.43
Vacant 5.76

Housing Market Details

 

Age of Homes

AGE OF Leominster HOMES
2000 or Newer 6.4
1970 - 1999 38.0
1940 - 1969 27.7
1939 or Older 27.9

Types of Homes

TYPE OF Leominster HOMES
Single-Family 44.6
Townhomes 5.3
Small Apt. Buildings 22.2
Apt. Complexes 26.7
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Leominster HOMES
No Bedroom 6.42
1 Bedroom 13.46
2 Bedrooms 33.65
3 Bedrooms 32.57
4 Bedrooms 10.96
5 or more bedrooms 2.93