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 2021. 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

Medway, MA Housing Market Trends

With 13,115 people, 4,712 houses or apartments, and a median cost of homes of $557,861, 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.

Single-family detached homes are the single most common housing type in Medway, accounting for 79.72% of the town's housing units. Other types of housing that are prevalent in Medway include large apartment complexes or high rise apartments ( 9.00%), duplexes, homes converted to apartments or other small apartment buildings ( 6.87%), and a few row houses and other attached homes ( 4.42%).

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 87.82% of Medway's homes, and 75.39% 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 before 1939 ( 22.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.20%). There's also some housing in Medway built between 2000 and later ( 8.71%).

Medway Home Appreciation Rates

Appreciation rates for homes in Medway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 62.46%, which ranks in the top 50% nationwide. This equates to an annual average Medway house appreciation rate of 4.97%.

NeighborhoodScout's data show that during the latest twelve months, Medway's appreciation rate, at 17.86%, has been at or slightly above the national average. In the latest quarter, Medway's appreciation rate has been 6.70%, which annualizes to a rate of 29.61%.

Relative to Massachusetts, our data show that Medway's latest annual appreciation rate is lower than 70% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$557,861

Medway, MA HOME PRICES

> $1,297,000
0.2%
0.2%
$972,001 - $1,297,000
2.6%
2.6%
$648,001 - $972,000
28.6%
28.6%
$518,001 - $648,000
24.4%
24.4%
$389,001 - $518,000
29.0%
29.0%
$259,001 - $389,000
11.7%
11.7%
$130,001 - $259,000
2.2%
2.2%
$65,001 - $130,000
0.3%
0.3%
$0 - $65,000
1.0%
1.0%
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:
4,712

Medway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
95.50% 3.09%
2
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,333 / per month

Homeownership Rate

Owners
87.8%
87.8%
Renters
12.2%
12.2%
Vacant
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.7%
8.7%
1970 - 1999
46.5%
46.5%
1940 - 1969
22.2%
22.2%
1939 or Older
22.6%
22.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
79.7%
79.7%
Townhomes
4.4%
4.4%
Small Apt. Buildings
6.9%
6.9%
Apt. Complexes
9.0%
9.0%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.1%
2.1%
1 Bedroom
5.4%
5.4%
2 Bedrooms
13.9%
13.9%
3 Bedrooms
31.0%
31.0%
4 Bedrooms
44.4%
44.4%
5 or more bedrooms
3.2%
3.2%
0.0% 100.0%
% OF HOMES