Lynnfield, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lynnfield, 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

Lynnfield Housing Market Information

With a population of 12,761, 4,376 total housing units (homes and apartments), and a median house value of $644,691, 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 83.82% of the town's housing units. Other types of housing that are prevalent in Lynnfield include large apartment complexes or high rise apartments ( 11.55%), duplexes, homes converted to apartments or other small apartment buildings ( 3.52%).

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 85.11% of Lynnfield's homes, and 69.82% 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 50.81% of the town's housing hails from this era. Other housing ages represented in Lynnfield include homes built between 1970-1999 ( 24.45%) and housing constructed between 2000 and later ( 13.58%). There's also some housing in Lynnfield built before 1939 ( 11.17%).

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 10.74%, which ranks in the top 30% nationwide. This equates to an annual average Lynnfield house appreciation rate of 1.03%.

NeighborhoodScout's data show that during the latest twelve months, Lynnfield's appreciation rate, at 4.66%, has been at or slightly above the national average. In the latest quarter, Lynnfield's appreciation rate has been 1.07%, which annualizes to a rate of 4.36%.

Relative to Massachusetts, our data show that Lynnfield's latest annual appreciation rate is lower than 50% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$644,691

Lynnfield, MA HOME PRICES

Value Range
> $1,176,000 4.8
$882,001 - $1,176,000 14.3
$588,001 - $882,000 44.9
$470,001 - $588,000 21.3
$353,001 - $470,000 8.9
$235,001 - $353,000 2.7
$117,001 - $235,000 1.2
$59,001 - $117,000 0.5
$0 - $59,000 1.4

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
3.24036095159967 11.8589743589744

Number Of Homes And Apartments:
4,376

Lynnfield 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
57.40% 2.66% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,296 / per month

Homeownership Rate

Homeownership
Owners 85.11
Renters 14.89
Vacant 6.73

Housing Market Details

 

Age of Homes

AGE OF Lynnfield HOMES
2000 or Newer 13.6
1970 - 1999 24.4
1940 - 1969 50.8
1939 or Older 11.2

Types of Homes

TYPE OF Lynnfield HOMES
Single-Family 83.8
Townhomes 0.8
Small Apt. Buildings 3.5
Apt. Complexes 11.6
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Lynnfield HOMES
No Bedroom 2.39
1 Bedroom 7.29
2 Bedrooms 13.11
3 Bedrooms 34.25
4 Bedrooms 35.57
5 or more bedrooms 7.40

Popular Neighborhoods in Lynnfield

Zip Codes in Lynnfield, MA