Lowell, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lowell Neighborhoods Since 2000




Lowell, 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

Lowell Housing Market Information

With a population of 110,699, 38,489 total housing units (homes and apartments), and a median house value of $256,968, Lowell real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Lowell homes are still considered rather expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Lowell, accounting for 35.62% of the city's housing units. Other types of housing that are prevalent in Lowell include single-family detached homes ( 31.72%), duplexes, homes converted to apartments or other small apartment buildings ( 27.25%), and a few row houses and other attached homes ( 5.34%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which 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 ( 46.29%), 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 ( 25.67%), followed by between 1970-1999 ( 21.76%). There's also some housing in Lowell built between 2000 and later ( 6.27%).

Lowell Home Appreciation Rates

Real estate appreciation rates in Lowell's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.40% during the period.

Appreciation rates are so strong in Lowell that despite a nationwide downturn in the housing market, Lowell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lowell appreciation rates continue to be some of the highest in America, at 7.26%, which is higher than appreciation rates in 82.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lowell. Lowell appreciation rates in the latest quarter were at 1.07%, which equates to an annual appreciation rate of 4.36%.

Relative to Massachusetts, our data show that Lowell's latest annual appreciation rate is higher than 90% 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

 

Median Home Value:
$256,968

Lowell, MA HOME PRICES

Value Range
> $1,208,000 0.2
$906,001 - $1,208,000 0.3
$604,001 - $906,000 1.3
$483,001 - $604,000 2.7
$363,001 - $483,000 15.3
$242,001 - $363,000 40.9
$121,001 - $242,000 33.8
$60,001 - $121,000 3.3
$0 - $60,000 2.3

Very Low for MA
High for Nation

Value Relative to Nation Value Relative to State
21.5106058830423 83.3333333333333

Number Of Homes And Apartments:
38,489

Lowell 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
55.86% 2.61% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,585 / per month

Homeownership Rate

Homeownership
Owners 41.29
Renters 58.71
Vacant 7.14

Housing Market Details

 

Age of Homes

AGE OF Lowell HOMES
2000 or Newer 6.3
1970 - 1999 21.8
1940 - 1969 25.7
1939 or Older 46.3

Types of Homes

TYPE OF Lowell HOMES
Single-Family 31.7
Townhomes 5.3
Small Apt. Buildings 27.2
Apt. Complexes 35.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Lowell HOMES
No Bedroom 4.71
1 Bedroom 16.73
2 Bedrooms 34.81
3 Bedrooms 29.35
4 Bedrooms 11.00
5 or more bedrooms 3.39