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Lynn, 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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Lynn, MA Housing Market Trends

With a population of 101,253, 33,261 total housing units (homes and apartments), and a median house value of $489,969, real estate costs in Lynn 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 Lynn, accounting for 33.68% of the city's housing units. Other types of housing that are prevalent in Lynn include duplexes, homes converted to apartments or other small apartment buildings ( 33.14%), large apartment complexes or high rise apartments ( 28.04%), and a few row houses and other attached homes ( 4.98%).

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

The housing in Lynn was primarily built before 1939 ( 51.24%), making the housing stock in Lynn some of the oldest overall in America, although there is a range of ages of homes in Lynn. The next most important housing age is between 1940-1969 ( 23.91%), followed by between 1970-1999 ( 20.11%). There's also some housing in Lynn built between 2000 and later ( 4.74%).

Lynn Home Appreciation Rates

In the last 10 years, Lynn has experienced some of the highest home appreciation rates of any community in the nation. Lynn real estate appreciated 133.89% over the last ten years, which is an average annual home appreciation rate of 8.87%, putting Lynn in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lynn definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Lynn appreciation rates have trailed the rest of the nation. In the last twelve months, Lynn's appreciation rate has been 11.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lynn were at 1.66%, which equates to an annual appreciation rate of 6.81%.

Notably, Lynn's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Massachusetts, our data show that Lynn's latest annual appreciation rate is higher than 70% 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 Lynn differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lynn - 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 Lynn real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$489,969

Lynn, MA HOME PRICES

> $1,414,000
$1,061,001 - $1,414,000
$707,001 - $1,061,000
$566,001 - $707,000
$424,001 - $566,000
$283,001 - $424,000
$141,001 - $283,000
$71,001 - $141,000
$0 - $71,000
0.4%
0.4%
1.2%
1.2%
12.1%
12.1%
17.5%
17.5%
32.1%
32.1%
23.9%
23.9%
9.8%
9.8%
0.7%
0.7%
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for MA

Value Relative To Nation

Number Of Homes And Apartments:
33,261

Lynn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
170.04% 4.51%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,577 / per month

Homeownership Rate

Owners
Renters
Vacant
46.0%
46.0%
54.0%
54.0%
3.7%
3.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.7%
4.7%
20.1%
20.1%
23.9%
23.9%
51.2%
51.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
33.7%
33.7%
5.0%
5.0%
33.1%
33.1%
28.0%
28.0%
0.2%
0.2%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.4%
5.4%
16.8%
16.8%
33.9%
33.9%
30.2%
30.2%
10.3%
10.3%
3.4%
3.4%
0.0% 100.0%
% OF HOMES