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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Medway, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Medway, MA Housing Market Trends

With a population of 13,393, 4,539 total housing units (homes and apartments), and a median house value of $694,793, real estate costs in Medway 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.

Medway is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Medway than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Medway. Owner-occupied housing accounts for 85.84% of Medway's homes, and 78.99% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Medway built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Medway built between 1940-1969 ( 24.45%). A lesser amount of the housing stock also hails from before 1939 ( 19.92%). There's also some housing in Medway built between 2000 and later ( 8.79%).

Medway Home Appreciation Rates

Real estate appreciation rates in Medway's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.62% during the period.

NeighborhoodScout's data show that during the latest twelve months, Medway's appreciation rate, at 6.13%, has been at or slightly above the national average. In the latest quarter, Medway's appreciation rate has been 1.11%, which annualizes to a rate of 4.52%.

Relative to Massachusetts, our data show that Medway's latest annual appreciation rate is lower than 80% of the other cities and towns in Massachusetts.

Average Home Values

Median Home Value

$694,793

Medway, MA Home Prices
> $1,267,000
$950,001 - $1,267,000
$633,001 - $950,000
$507,001 - $633,000
$380,001 - $507,000
$253,001 - $380,000
$127,001 - $253,000
$64,001 - $127,000
$0 - $64,000
1.1%
1.1%
8.9%
8.9%
46.1%
46.1%
26.9%
26.9%
10.3%
10.3%
5.0%
5.0%
0.5%
0.5%
0.8%
0.8%
0.6%
0.6%
0% 100.0%
% of Homes
High

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

4,539

Medway Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,964 / per month

Homeownership Rate

Owners
Renters
85.8%
85.8%
14.2%
14.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.3%
1.3%
98.7%
98.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.8%
8.8%
46.8%
46.8%
24.4%
24.4%
19.9%
19.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.6%
82.6%
4.0%
4.0%
5.4%
5.4%
8.0%
8.0%
0.0%
0.0%
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
2.1%
2.1%
4.8%
4.8%
11.0%
11.0%
31.0%
31.0%
48.0%
48.0%
3.2%
3.2%
0% 100.0%
% of Homes