Millbury, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Millbury Neighborhoods Since 2000




Millbury, 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

Millbury Housing Market Information

With a population of 13,537, 5,162 total housing units (homes and apartments), and a median house value of $278,324, Millbury real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Millbury, accounting for 63.47% of the town's housing units. Other types of housing that are prevalent in Millbury include duplexes, homes converted to apartments or other small apartment buildings ( 17.09%), large apartment complexes or high rise apartments ( 11.47%), and a few row houses and other attached homes ( 7.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Millbury. Owner-occupied housing accounts for 71.82% of Millbury's homes, and 55.51% have either three or four bedrooms, which is average sized relative to America.

The housing in Millbury was primarily built before 1939 ( 31.39%), making the housing stock in Millbury some of the oldest overall in America, although there is a range of ages of homes in Millbury. The next most important housing age is between 1940-1969 ( 28.52%), followed by between 1970-1999 ( 27.79%). There's also some housing in Millbury built between 2000 and later ( 12.29%).

Millbury Home Appreciation Rates

Millbury's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Millbury during the period has been just -1.02%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Millbury's appreciation rate, at 3.98%, has been at or slightly above the national average. In the latest quarter, Millbury's appreciation rate has been 0.33%, which annualizes to a rate of 1.33%.

Relative to Massachusetts, our data show that Millbury's latest annual appreciation rate is lower than 60% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$278,324

Millbury, MA HOME PRICES

Value Range
> $1,120,000 0.1
$840,001 - $1,120,000 1.1
$560,001 - $840,000 4.1
$448,001 - $560,000 4.4
$336,001 - $448,000 24.2
$224,001 - $336,000 43.5
$112,001 - $224,000 21.1
$56,001 - $112,000 0.3
$0 - $56,000 1.2

Low for MA
Very High for Nation

Value Relative to Nation Value Relative to State
18.6628383921247 75.6410256410256

Number Of Homes And Apartments:
5,162

Millbury 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
48.23% 2.31% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,185 / per month

Homeownership Rate

Homeownership
Owners 71.82
Renters 28.18
Vacant 5.56

Housing Market Details

 

Age of Homes

AGE OF Millbury HOMES
2000 or Newer 12.3
1970 - 1999 27.8
1940 - 1969 28.5
1939 or Older 31.4

Types of Homes

TYPE OF Millbury HOMES
Single-Family 63.5
Townhomes 7.6
Small Apt. Buildings 17.1
Apt. Complexes 11.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Millbury HOMES
No Bedroom 1.43
1 Bedroom 11.45
2 Bedrooms 28.69
3 Bedrooms 43.54
4 Bedrooms 11.96
5 or more bedrooms 2.93