Needham, MA


Highest Appreciating Needham Neighborhoods Since 2000

Needham, 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

Needham Housing Market Information

With 30,564 people, 10,574 houses or apartments, and a median cost of homes of $827,414, Needham house prices are not only among the most expensive in Massachusetts, Needham 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 Needham, accounting for 75.91% of the town's housing units. Other types of housing that are prevalent in Needham include large apartment complexes or high rise apartments ( 11.55%), duplexes, homes converted to apartments or other small apartment buildings ( 9.44%), and a few row houses and other attached homes ( 3.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Needham. Owner-occupied housing accounts for 80.74% of Needham's homes, and 67.06% 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. Needham's housing was primarily built during this period, from the '40s through the '60s. A full 42.82% of the town's housing hails from this era. Other housing ages represented in Needham include homes built before 1939 ( 26.04%) and housing constructed between 1970-1999 ( 19.11%). There's also some housing in Needham built between 2000 and later ( 12.04%).

Needham Home Appreciation Rates

In the last 10 years, Needham has experienced some of the highest home appreciation rates of any community in the nation. Needham real estate appreciated 32.50% over the last ten years, which is an average annual home appreciation rate of 2.85%, putting Needham in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Needham definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Needham's appreciation rate, at 4.86%, has been at or slightly above the national average. In the latest quarter, Needham's appreciation rate has been 1.07%, which annualizes to a rate of 4.36%.

Relative to Massachusetts, our data show that Needham's latest annual appreciation rate is higher than 50% 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 Needham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Needham - 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 Needham real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,200,000 18.7
$900,001 - $1,200,000 18.5
$600,001 - $900,000 47.6
$480,001 - $600,000 7.0
$360,001 - $480,000 3.8
$240,001 - $360,000 1.6
$120,001 - $240,000 0.7
$60,001 - $120,000 0.9
$0 - $60,000 1.1

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
1.75202156334232 5.76923076923077

Number Of Homes And Apartments:

Needham Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
83.46% 3.58% 10 9
* 10 is highest

Rent & Ownership


Average Market Rent:
$2,437 / per month

Homeownership Rate

Owners 80.74
Renters 19.26
Vacant 3.15

Housing Market Details


Age of Homes

2000 or Newer 12.0
1970 - 1999 19.1
1940 - 1969 42.8
1939 or Older 26.0

Types of Homes

Single-Family 75.9
Townhomes 3.1
Small Apt. Buildings 9.4
Apt. Complexes 11.5
Mobile Homes 0.0
Other 0.0

Home Size

No Bedroom 1.60
1 Bedroom 7.76
2 Bedrooms 13.10
3 Bedrooms 33.02
4 Bedrooms 34.04
5 or more bedrooms 10.48