New Bedford, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Bedford Neighborhoods Since 2000




New Bedford, 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

New Bedford Housing Market Information

With 94,958 people, 39,141 houses or apartments, and a median cost of homes of $229,907, New Bedford real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, New Bedford homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in New Bedford, accounting for 46.10% of the city's housing units. Other types of housing that are prevalent in New Bedford include single-family detached homes ( 31.50%), large apartment complexes or high rise apartments ( 19.83%), and a few row houses and other attached homes ( 2.31%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

The most prevalent building size and type in New Bedford are three and four bedroom dwellings. The city has a mixture of owners and renters, with 41.13% owning and 58.87% renting.

The housing in New Bedford was primarily built before 1939 ( 50.80%), making the housing stock in New Bedford some of the oldest overall in America, although there is a range of ages of homes in New Bedford. The next most important housing age is between 1940-1969 ( 27.15%), followed by between 1970-1999 ( 18.25%). There's also some housing in New Bedford built between 2000 and later ( 3.80%).

New Bedford Home Appreciation Rates

New Bedford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Bedford during the period has been just -2.02%, which is lower than 80% of US communities.

Appreciation rates are so strong in New Bedford that despite a nationwide downturn in the housing market, New Bedford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Bedford appreciation rates continue to be some of the highest in America, at 6.00%, which is higher than appreciation rates in 74.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Bedford. New Bedford appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.59%.

Relative to Massachusetts, our data show that New Bedford's latest annual appreciation rate is higher than 70% 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 city. Individual neighborhoods within New Bedford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Bedford - 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 New Bedford real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$229,907

New Bedford, MA HOME PRICES

Value Range
> $1,143,000 0.4
$857,001 - $1,143,000 0.3
$572,001 - $857,000 1.0
$457,001 - $572,000 1.8
$343,001 - $457,000 6.5
$229,001 - $343,000 40.1
$114,001 - $229,000 42.8
$57,001 - $114,000 3.5
$0 - $57,000 3.6

Very Low for MA
High for Nation

Value Relative to Nation Value Relative to State
25.8291339505449 90.3846153846154

Number Of Homes And Apartments:
39,141

New Bedford 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
52.07% 2.46% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,079 / per month

Homeownership Rate

Homeownership
Owners 41.13
Renters 58.87
Vacant 9.59

Housing Market Details

 

Age of Homes

AGE OF New Bedford HOMES
2000 or Newer 3.8
1970 - 1999 18.3
1940 - 1969 27.1
1939 or Older 50.8

Types of Homes

TYPE OF New Bedford HOMES
Single-Family 31.5
Townhomes 2.3
Small Apt. Buildings 46.1
Apt. Complexes 19.8
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF New Bedford HOMES
No Bedroom 1.43
1 Bedroom 14.05
2 Bedrooms 31.97
3 Bedrooms 42.46
4 Bedrooms 7.28
5 or more bedrooms 2.81