Reading, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Reading Neighborhoods Since 2000




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 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

Reading Housing Market Information

With a population of 25,704, 9,168 total housing units (homes and apartments), and a median house value of $602,057, 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 70.72% of the town's housing units. Other types of housing that are prevalent in Reading include large apartment complexes or high rise apartments ( 17.65%), duplexes, homes converted to apartments or other small apartment buildings ( 7.53%), and a few row houses and other attached homes ( 4.09%).

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 77.57% of Reading's homes, and 64.05% 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 35.71% of the town's housing hails from this era. Other housing ages represented in Reading include homes built before 1939 ( 32.90%) and housing constructed between 1970-1999 ( 22.15%). There's also some housing in Reading built between 2000 and later ( 9.24%).

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 19.90% over the last ten years, which is an average annual home appreciation rate of 1.83%, 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.

Appreciation rates are so strong in Reading that despite a nationwide downturn in the housing market, Reading real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Reading appreciation rates continue to be some of the highest in America, at 5.58%, which is higher than appreciation rates in 70.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Reading. Reading 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 Reading's latest annual appreciation rate is higher than 60% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$602,057

Reading, MA HOME PRICES

Value Range
> $1,189,000 1.1
$892,001 - $1,189,000 7.0
$594,001 - $892,000 29.7
$476,001 - $594,000 28.0
$356,001 - $476,000 25.2
$238,001 - $356,000 5.7
$119,001 - $238,000 1.5
$59,001 - $119,000 0.6
$0 - $59,000 1.1

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
3.86733856791281 14.1025641025641

Number Of Homes And Apartments:
9,168

Reading 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
66.51% 3.00% 9 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,768 / per month

Homeownership Rate

Homeownership
Owners 77.57
Renters 22.43
Vacant 5.02

Housing Market Details

 

Age of Homes

AGE OF Reading HOMES
2000 or Newer 9.2
1970 - 1999 22.1
1940 - 1969 35.7
1939 or Older 32.9

Types of Homes

TYPE OF Reading HOMES
Single-Family 70.7
Townhomes 4.1
Small Apt. Buildings 7.5
Apt. Complexes 17.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Reading HOMES
No Bedroom 0.67
1 Bedroom 11.80
2 Bedrooms 19.07
3 Bedrooms 42.49
4 Bedrooms 21.56
5 or more bedrooms 4.40