Northbridge, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Northbridge Neighborhoods Since 2000




Northbridge, 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

Northbridge Housing Market Information

With a population of 16,544, 6,051 total housing units (homes and apartments), and a median house value of $307,932, Northbridge real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Northbridge, accounting for 54.19% of the town's housing units. Other types of housing that are prevalent in Northbridge include duplexes, homes converted to apartments or other small apartment buildings ( 16.57%), row houses and other attached homes ( 14.94%), and a few large apartment complexes or high rise apartments ( 13.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Northbridge. Owner-occupied housing accounts for 65.94% of Northbridge's homes, and 62.70% have either three or four bedrooms, which is average sized relative to America.

The housing in Northbridge was primarily built before 1939 ( 34.28%), making the housing stock in Northbridge some of the oldest overall in America, although there is a range of ages of homes in Northbridge. The next most important housing age is between 1970-1999 ( 30.59%), followed by between 1940-1969 ( 22.66%). There's also some housing in Northbridge built between 2000 and later ( 12.47%).

Northbridge Home Appreciation Rates

Northbridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Northbridge during the period has been just -1.59%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Northbridge's appreciation rate, at 3.89%, has been at or slightly above the national average. In the latest quarter, Northbridge's appreciation rate has been 0.33%, which annualizes to a rate of 1.33%.

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

Average Home Values

 

Median Home Value:
$307,932

Northbridge, MA HOME PRICES

Value Range
> $1,096,000 0.5
$822,001 - $1,096,000 1.8
$548,001 - $822,000 4.9
$438,001 - $548,000 10.6
$329,001 - $438,000 25.0
$219,001 - $329,000 35.0
$110,001 - $219,000 18.1
$55,001 - $110,000 0.5
$0 - $55,000 3.6

Low for MA
Very High for Nation

Value Relative to Nation Value Relative to State
15.6744404078284 67.948717948718

Number Of Homes And Apartments:
6,051

Northbridge 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
35.11% 1.76% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,172 / per month

Homeownership Rate

Homeownership
Owners 65.94
Renters 34.06
Vacant 6.74

Housing Market Details

 

Age of Homes

AGE OF Northbridge HOMES
2000 or Newer 12.5
1970 - 1999 30.6
1940 - 1969 22.7
1939 or Older 34.3

Types of Homes

TYPE OF Northbridge HOMES
Single-Family 54.2
Townhomes 14.9
Small Apt. Buildings 16.6
Apt. Complexes 13.8
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Northbridge HOMES
No Bedroom 0.65
1 Bedroom 10.10
2 Bedrooms 22.49
3 Bedrooms 43.76
4 Bedrooms 18.94
5 or more bedrooms 4.07