Peabody, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Peabody, 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

Peabody Housing Market Information

With a population of 52,504, 21,652 total housing units (homes and apartments), and a median house value of $393,906, real estate costs in Peabody are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Single-family detached homes are the single most common housing type in Peabody, accounting for 50.39% of the city's housing units. Other types of housing that are prevalent in Peabody include large apartment complexes or high rise apartments ( 26.73%), duplexes, homes converted to apartments or other small apartment buildings ( 15.28%), and a few row houses and other attached homes ( 4.71%).

People in Peabody primarily live in small (one, two or no bedroom) single-family detached homes. Peabody has a mixture of owner-occupied and renter-occupied housing.

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. Peabody's housing was primarily built during this period, from the '40s through the '60s. A full 35.76% of the city's housing hails from this era. Other housing ages represented in Peabody include homes built between 1970-1999 ( 27.48%) and housing constructed before 1939 ( 23.50%). There's also some housing in Peabody built between 2000 and later ( 13.26%).

Peabody Home Appreciation Rates

Appreciation rates for homes in Peabody have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.30%, which ranks in the top 50% nationwide. This equates to an annual average Peabody house appreciation rate of 0.13%.

Appreciation rates are so strong in Peabody that despite a nationwide downturn in the housing market, Peabody real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Peabody appreciation rates continue to be some of the highest in America, at 6.16%, which is higher than appreciation rates in 75.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Peabody. Peabody appreciation rates in the latest quarter were at 1.07%, which equates to an annual appreciation rate of 4.36%.

Relative to Massachusetts, our data show that Peabody's latest annual appreciation rate is higher than 80% 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 Peabody differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Peabody - 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 Peabody real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$393,906

Peabody, MA HOME PRICES

Value Range
> $1,191,000 0.4
$893,001 - $1,191,000 0.6
$595,001 - $893,000 6.5
$476,001 - $595,000 16.0
$357,001 - $476,000 35.2
$238,001 - $357,000 29.5
$119,001 - $238,000 7.6
$60,001 - $119,000 1.1
$0 - $60,000 3.2

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
9.73280206258057 43.9102564102564

Number Of Homes And Apartments:
21,652

Peabody 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
47.05% 2.26% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,860 / per month

Homeownership Rate

Homeownership
Owners 62.73
Renters 37.27
Vacant 4.57

Housing Market Details

 

Age of Homes

AGE OF Peabody HOMES
2000 or Newer 13.3
1970 - 1999 27.5
1940 - 1969 35.8
1939 or Older 23.5

Types of Homes

TYPE OF Peabody HOMES
Single-Family 50.4
Townhomes 4.7
Small Apt. Buildings 15.3
Apt. Complexes 26.7
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Peabody HOMES
No Bedroom 1.82
1 Bedroom 15.81
2 Bedrooms 32.20
3 Bedrooms 34.50
4 Bedrooms 12.99
5 or more bedrooms 2.67