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 Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (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 52,491, 21,504 total housing units (homes and apartments), and a median house value of $420,518, 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 50.92% of the city's housing units. Other types of housing that are prevalent in Peabody include large apartment complexes or high rise apartments ( 26.35%), duplexes, homes converted to apartments or other small apartment buildings ( 15.38%), and a few row houses and other attached homes ( 4.64%).

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 36.54% of the city's housing hails from this era. Other housing ages represented in Peabody include homes built between 1970-1999 ( 28.05%) and housing constructed before 1939 ( 22.81%). There's also some housing in Peabody built between 2000 and later ( 12.60%).

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 20.52%, which ranks in the top 30% nationwide. This equates to an annual average Peabody house appreciation rate of 1.88%.

NeighborhoodScout's data show that during the latest twelve months, Peabody's appreciation rate, at 6.08%, has been at or slightly above the national average. In the latest quarter, Peabody's appreciation rate has been 1.70%, which annualizes to a rate of 6.98%.

Relative to Massachusetts, our data show that Peabody's latest annual appreciation rate is higher than 50% 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:
$420,518

Peabody, MA HOME PRICES

Value Range
> $1,261,000 0.5
$945,001 - $1,261,000 0.9
$630,001 - $945,000 9.3
$504,001 - $630,000 15.5
$378,001 - $504,000 36.8
$252,001 - $378,000 26.5
$126,001 - $252,000 6.9
$63,001 - $126,000 0.7
$0 - $63,000 3.0

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
9.85693430656934 44.5512820512821

Number Of Homes And Apartments:
21,504

Peabody Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
62.24% 2.65%
5
6
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$2,064 / per month

Homeownership Rate

Homeownership
Owners 64.15
Renters 35.85
Vacant 4.50

Housing Market Details

 

Age of Homes

AGE OF Peabody HOMES
2000 or Newer 12.6
1970 - 1999 28.1
1940 - 1969 36.5
1939 or Older 22.8

Types of Homes

TYPE OF Peabody HOMES
Single-Family 50.9
Townhomes 4.6
Small Apt. Buildings 15.4
Apt. Complexes 26.3
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Peabody HOMES
No Bedroom 1.76
1 Bedroom 16.32
2 Bedrooms 32.29
3 Bedrooms 33.56
4 Bedrooms 13.33
5 or more bedrooms 2.74