Pittsfield, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Pittsfield Neighborhoods Since 2000




Pittsfield, 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

Pittsfield Housing Market Information

With a population of 43,303, 19,258 total housing units (homes and apartments), and a median house value of $165,481, Pittsfield real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Pittsfield homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Pittsfield, accounting for 52.79% of the city's housing units. Other types of housing that are prevalent in Pittsfield include duplexes, homes converted to apartments or other small apartment buildings ( 25.99%), large apartment complexes or high rise apartments ( 14.65%), and a few row houses and other attached homes ( 5.20%).

The most prevalent building size and type in Pittsfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.41% owning and 40.59% renting.

The housing in Pittsfield was primarily built before 1939 ( 41.07%), making the housing stock in Pittsfield some of the oldest overall in America, although there is a range of ages of homes in Pittsfield. The next most important housing age is between 1940-1969 ( 34.09%), followed by between 1970-1999 ( 21.47%). There's also some housing in Pittsfield built between 2000 and later ( 3.37%).

Pittsfield Home Appreciation Rates

Pittsfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Pittsfield during the period has been just -0.89%, which is lower than 70% of US communities.

Over the last year, Pittsfield appreciation rates have trailed the rest of the nation. In the last twelve months, Pittsfield's appreciation rate has been 1.32%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pittsfield were at -1.88%, which equates to an annual appreciation rate of -7.33%.

Notably, Pittsfield's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Massachusetts, our data show that Pittsfield's latest annual appreciation rate is lower than 90% 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 Pittsfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pittsfield - 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 Pittsfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$165,481

Pittsfield, MA HOME PRICES

Value Range
> $1,010,000 1.2
$758,001 - $1,010,000 0.8
$505,001 - $758,000 2.2
$404,001 - $505,000 2.9
$303,001 - $404,000 5.5
$202,001 - $303,000 20.8
$101,001 - $202,000 54.1
$51,001 - $101,000 9.4
$0 - $51,000 3.1

Very Low for MA
Average for Nation

Value Relative to Nation Value Relative to State
43.4431032462206 98.0769230769231

Number Of Homes And Apartments:
19,258

Pittsfield 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
42.42% 2.07% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,016 / per month

Homeownership Rate

Homeownership
Owners 59.41
Renters 40.59
Vacant 8.47

Housing Market Details

 

Age of Homes

AGE OF Pittsfield HOMES
2000 or Newer 3.4
1970 - 1999 21.5
1940 - 1969 34.1
1939 or Older 41.1

Types of Homes

TYPE OF Pittsfield HOMES
Single-Family 52.8
Townhomes 5.2
Small Apt. Buildings 26.0
Apt. Complexes 14.7
Mobile Homes 1.4
Other 0.0

Home Size

SIZE OF Pittsfield HOMES
No Bedroom 3.09
1 Bedroom 14.51
2 Bedrooms 26.01
3 Bedrooms 38.37
4 Bedrooms 14.42
5 or more bedrooms 3.59