Lynnfield, 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 2021. 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

Lynnfield, MA Housing Market Trends

With a population of 12,999, 4,590 total housing units (homes and apartments), and a median house value of $770,593, Lynnfield house prices are not only among the most expensive in Massachusetts, Lynnfield real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Lynnfield, accounting for 79.89% of the town's housing units. Other types of housing that are prevalent in Lynnfield include large apartment complexes or high rise apartments ( 13.75%), row houses and other attached homes ( 3.61%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lynnfield. Owner-occupied housing accounts for 84.97% of Lynnfield's homes, and 67.25% have either three or four bedrooms, which is average sized relative to America.

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. Lynnfield's housing was primarily built during this period, from the '40s through the '60s. A full 49.09% of the town's housing hails from this era. Other housing ages represented in Lynnfield include homes built between 1970-1999 ( 24.68%) and housing constructed between 2000 and later ( 18.88%). There's also some housing in Lynnfield built before 1939 ( 7.36%).

Lynnfield Home Appreciation Rates

Appreciation rates for homes in Lynnfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 48.91%, which ranks in the top 40% nationwide. This equates to an annual average Lynnfield house appreciation rate of 4.06%.

Over the last year, Lynnfield appreciation rates have trailed the rest of the nation. In the last twelve months, Lynnfield's appreciation rate has been 6.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lynnfield were at 3.02%, which equates to an annual appreciation rate of 12.62%.

Relative to Massachusetts, our data show that Lynnfield's latest annual appreciation rate is lower than 90% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$770,593

Lynnfield, MA HOME PRICES

> $1,201,000
12.5%
12.5%
$900,001 - $1,201,000
22.8%
22.8%
$600,001 - $900,000
45.7%
45.7%
$480,001 - $600,000
12.7%
12.7%
$360,001 - $480,000
2.6%
2.6%
$240,001 - $360,000
1.3%
1.3%
$120,001 - $240,000
1.5%
1.5%
$60,001 - $120,000
0.4%
0.4%
$0 - $60,000
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MA

Value Relative To Nation

Number Of Homes And Apartments:
4,590

Lynnfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
90.02% 3.03%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,822 / per month

Homeownership Rate

Owners
85.0%
85.0%
Renters
15.0%
15.0%
Vacant
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.9%
18.9%
1970 - 1999
24.7%
24.7%
1940 - 1969
49.1%
49.1%
1939 or Older
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
79.9%
79.9%
Townhomes
3.6%
3.6%
Small Apt. Buildings
2.7%
2.7%
Apt. Complexes
13.8%
13.8%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.0%
3.0%
1 Bedroom
9.6%
9.6%
2 Bedrooms
13.0%
13.0%
3 Bedrooms
33.6%
33.6%
4 Bedrooms
33.7%
33.7%
5 or more bedrooms
7.2%
7.2%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Lynnfield

Zip Codes in Lynnfield, MA