Northbridge, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Northbridge, MA Real Estate Data


Northbridge Housing Market Information

With a population of 16,544, 5,913 total housing units (homes and apartments), and a median house value of $295,322, 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 54.92% 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 ( 18.21%), large apartment complexes or high rise apartments ( 13.48%), and a few row houses and other attached homes ( 13.38%).

The most prevalent building size and type in Northbridge are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 64.95% owning and 35.05% renting.

The housing in Northbridge was primarily built before 1939 ( 36.38%), 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 ( 29.58%), followed by between 1940-1969 ( 21.95%). There's also some housing in Northbridge built between 2000 and later ( 12.09%).

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 -1.74%, which is lower than 80% of US communities.

Over the last year, Northbridge appreciation rates have trailed the rest of the nation. In the last twelve months, Northbridge's appreciation rate has been 4.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northbridge were at 1.83%, which equates to an annual appreciation rate of 7.50%.

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:
$295,322

Northbridge, MA HOME PRICES

Value Range
> $1,092,000 0.0
$819,001 - $1,092,000 1.1
$546,001 - $819,000 3.3
$437,001 - $546,000 11.3
$328,001 - $437,000 24.5
$219,001 - $328,000 38.5
$109,001 - $219,000 17.3
$55,001 - $109,000 0.5
$0 - $55,000 3.5

Low for MA
Very High for Nation

Value Relative to Nation Value Relative to State
17.2922644492592 72.7564102564103

Number Of Homes And Apartments:
5,913

Rent & Ownership

 

Average Market Rent:
$1,138 / per month

Homeownership Rate

Homeownership
Owners 64.95
Renters 35.05
Vacant 5.45

Housing Market Details

 

Age of Homes

AGE OF Northbridge HOMES
2000 or Newer 12.1
1970 - 1999 29.6
1940 - 1969 22.0
1939 or Older 36.4

Types of Homes

TYPE OF Northbridge HOMES
Single-Family 54.9
Townhomes 13.4
Small Apt. Buildings 18.2
Apt. Complexes 13.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Northbridge HOMES
No Bedroom 0.00
1 Bedroom 9.99
2 Bedrooms 22.19
3 Bedrooms 43.32
4 Bedrooms 21.19
5 or more bedrooms 3.31

Northbridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
35.82% 1.82% 2 4
* 10 is highest