North Reading, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating North Reading Neighborhoods Since 2000




North Reading, 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

North Reading Housing Market Information

With 15,636 people, 5,361 houses or apartments, and a median cost of homes of $557,396, North Reading house prices are not only among the most expensive in Massachusetts, North Reading 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 North Reading, accounting for 79.83% of the town's housing units. Other types of housing that are prevalent in North Reading include large apartment complexes or high rise apartments ( 13.04%), row houses and other attached homes ( 5.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.86%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Reading. Owner-occupied housing accounts for 86.30% of North Reading's homes, and 66.30% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in North Reading 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 North Reading built between 1940-1969 ( 40.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.25%). There's also some housing in North Reading built before 1939 ( 6.87%).

North Reading Home Appreciation Rates

Appreciation rates for homes in North Reading have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.16%, which ranks in the top 30% nationwide. This equates to an annual average North Reading house appreciation rate of 0.97%.

NeighborhoodScout's data show that during the latest twelve months, North Reading's appreciation rate, at 4.94%, has been at or slightly above the national average. In the latest quarter, North Reading's appreciation rate has been 1.07%, which annualizes to a rate of 4.36%.

Relative to Massachusetts, our data show that North Reading's latest annual appreciation rate is higher than 50% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$557,396

North Reading, MA HOME PRICES

Value Range
> $1,161,000 1.7
$871,001 - $1,161,000 8.4
$580,001 - $871,000 25.0
$465,001 - $580,000 23.9
$348,001 - $465,000 25.2
$232,001 - $348,000 8.7
$116,001 - $232,000 4.2
$58,001 - $116,000 0.0
$0 - $58,000 2.9

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
4.60564865815071 17.9487179487179

Number Of Homes And Apartments:
5,361

North Reading 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
54.46% 2.55% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,714 / per month

Homeownership Rate

Homeownership
Owners 86.30
Renters 13.70
Vacant 5.80

Housing Market Details

 

Age of Homes

AGE OF North Reading HOMES
2000 or Newer 11.2
1970 - 1999 41.6
1940 - 1969 40.3
1939 or Older 6.9

Types of Homes

TYPE OF North Reading HOMES
Single-Family 79.8
Townhomes 5.3
Small Apt. Buildings 1.9
Apt. Complexes 13.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Reading HOMES
No Bedroom 0.00
1 Bedroom 8.82
2 Bedrooms 20.19
3 Bedrooms 34.65
4 Bedrooms 31.65
5 or more bedrooms 4.69

Popular Neighborhoods in North Reading

Zip Codes in North Reading, MA