Lowell, MA Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lowell, MA Housing Market Trends

With 110,997 people, 39,421 houses or apartments, and a median cost of homes of $318,735, Lowell real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Lowell, accounting for 34.32% of the city's housing units. Other types of housing that are prevalent in Lowell include single-family detached homes ( 31.70%), duplexes, homes converted to apartments or other small apartment buildings ( 28.21%), and a few row houses and other attached homes ( 5.57%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Lowell primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Lowell has a mixture of owner-occupied and renter-occupied housing.

The housing in Lowell was primarily built before 1939 ( 48.23%), making the housing stock in Lowell some of the oldest overall in America, although there is a range of ages of homes in Lowell. The next most important housing age is between 1940-1969 ( 23.74%), followed by between 1970-1999 ( 22.49%). There's also some housing in Lowell built between 2000 and later ( 5.55%).

Lowell Home Appreciation Rates

Appreciation rates for homes in Lowell have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 52.20%, which ranks in the top 30% nationwide. This equates to an annual average Lowell house appreciation rate of 4.29%.

NeighborhoodScout's data show that during the latest twelve months, Lowell's appreciation rate, at 5.14%, has been at or slightly above the national average. In the latest quarter, Lowell's appreciation rate has been 2.12%, which annualizes to a rate of 8.77%.

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

Average Home Values

 
info

Median Home Value:
$318,735

Lowell, MA HOME PRICES

> $1,210,000
0.4%
0.4%
$907,001 - $1,210,000
0.6%
0.6%
$604,001 - $907,000
3.4%
3.4%
$484,001 - $604,000
7.5%
7.5%
$363,001 - $484,000
21.2%
21.2%
$242,001 - $363,000
42.0%
42.0%
$121,001 - $242,000
21.7%
21.7%
$61,001 - $121,000
1.0%
1.0%
$0 - $61,000
2.2%
2.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for MA

Value Relative To Nation

Number Of Homes And Apartments:
39,421

Lowell Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
96.47% 3.27%
8
8
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$2,126 / per month

Homeownership Rate

Owners
40.5%
40.5%
Renters
59.5%
59.5%
Vacant
5.7%
5.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
5.5%
5.5%
1970 - 1999
22.5%
22.5%
1940 - 1969
23.7%
23.7%
1939 or Older
48.2%
48.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
31.7%
31.7%
Townhomes
5.6%
5.6%
Small Apt. Buildings
28.2%
28.2%
Apt. Complexes
34.3%
34.3%
Mobile Homes
0.1%
0.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.9%
3.9%
1 Bedroom
15.5%
15.5%
2 Bedrooms
36.8%
36.8%
3 Bedrooms
30.3%
30.3%
4 Bedrooms
10.7%
10.7%
5 or more bedrooms
2.8%
2.8%
0.0% 100.0%
% OF HOMES