Reading MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Reading, 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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Reading Housing Market Information

With 25,337 people, 9,114 houses or apartments, and a median cost of homes of $670,141, Reading house prices are not only among the most expensive in Massachusetts, Reading real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Reading, accounting for 73.43% of the town's housing units. Other types of housing that are prevalent in Reading include large apartment complexes or high rise apartments ( 14.94%), duplexes, homes converted to apartments or other small apartment buildings ( 7.67%), and a few row houses and other attached homes ( 3.96%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Reading. Owner-occupied housing accounts for 82.34% of Reading's homes, and 65.82% have either three or four bedrooms, which is average sized relative to America.

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. Reading's housing was primarily built during this period, from the '40s through the '60s. A full 38.52% of the town's housing hails from this era. Other housing ages represented in Reading include homes built before 1939 ( 29.40%) and housing constructed between 1970-1999 ( 22.90%). There's also some housing in Reading built between 2000 and later ( 9.19%).

Reading Home Appreciation Rates

In the last 10 years, Reading has experienced some of the highest home appreciation rates of any community in the nation. Reading real estate appreciated 46.47% over the last ten years, which is an average annual home appreciation rate of 3.89%, putting Reading in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Reading definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Reading appreciation rates have trailed the rest of the nation. In the last twelve months, Reading's appreciation rate has been 3.23%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Reading were at 0.57%, which equates to an annual appreciation rate of 2.29%.

Relative to Massachusetts, our data show that Reading's latest annual appreciation rate is higher than 50% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$670,141

Reading, MA HOME PRICES

Value Range
> $1,158,000 2.6
$868,001 - $1,158,000 10.1
$579,001 - $868,000 43.7
$463,001 - $579,000 24.1
$347,001 - $463,000 13.5
$231,001 - $347,000 3.2
$116,001 - $231,000 1.7
$58,001 - $116,000 0.4
$0 - $58,000 0.6

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
3.75474452554745 13.1410256410256

Number Of Homes And Apartments:
9,114

Reading Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
88.38% 3.22%
9
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,299 / per month

Homeownership Rate

Homeownership
Owners 82.34
Renters 17.66
Vacant 2.29

Housing Market Details

 

Age of Homes

AGE OF Reading HOMES
2000 or Newer 9.2
1970 - 1999 22.9
1940 - 1969 38.5
1939 or Older 29.4

Types of Homes

TYPE OF Reading HOMES
Single-Family 73.4
Townhomes 4.0
Small Apt. Buildings 7.7
Apt. Complexes 14.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Reading HOMES
No Bedroom 1.33
1 Bedroom 9.36
2 Bedrooms 16.54
3 Bedrooms 40.59
4 Bedrooms 25.24
5 or more bedrooms 6.95