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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 10,925, 3,923 total housing units (homes and apartments), and a median house value of $1,119,596, Nantucket house prices are not only among the most expensive in Massachusetts, Nantucket 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 Nantucket, accounting for 85.36% of the town's housing units. Other types of housing that are prevalent in Nantucket include duplexes, homes converted to apartments or other small apartment buildings ( 8.67%), row houses and other attached homes ( 3.72%), and a few mobile homes or trailers ( 1.67%).
The most prevalent building size and type in Nantucket are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.68% owning and 36.32% renting.
There is a lot of housing in Nantucket 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 Nantucket built between 2000 and later ( 17.63%). A lesser amount of the housing stock also hails from before 1939 ( 17.39%). There's also some housing in Nantucket built between 1940-1969 ( 12.56%).
A decent proportion of the Nantucket housing stock is seasonally occupied. That is, homes and condos in Nantucket are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Nantucket housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Nantucket have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.33%, which ranks in the top 30% nationwide. This equates to an annual average Nantucket house appreciation rate of 0.99%.
Appreciation rates are so strong in Nantucket that despite a nationwide downturn in the housing market, Nantucket real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Nantucket appreciation rates continue to be some of the highest in America, at 7.39%, which is higher than appreciation rates in 83.47% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Nantucket. Nantucket appreciation rates in the latest quarter were at -0.39%, which equates to an annual appreciation rate of -1.57%.
Relative to Massachusetts, our data show that Nantucket's latest annual appreciation rate is higher than 90% of the other cities and towns in Massachusetts.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Nantucket differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Nantucket - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Nantucket real estate investment or home purchase decisions.
|$997,001 - $1,329,000||27.2|
|$664,001 - $997,000||19.6|
|$531,001 - $664,000||5.0|
|$399,001 - $531,000||5.4|
|$266,001 - $399,000||2.9|
|$133,001 - $266,000||1.6|
|$67,001 - $133,000||0.0|
|$0 - $67,000||1.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Nantucket HOMES|
|2000 or Newer||17.6|
|1970 - 1999||52.4|
|1940 - 1969||12.6|
|1939 or Older||17.4|
|TYPE OF Nantucket HOMES|
|Small Apt. Buildings||8.7|
|SIZE OF Nantucket HOMES|
|5 or more bedrooms||9.83|