Revere, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Revere Neighborhoods Since 2000




Revere, 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

Revere Housing Market Information

With 53,422 people, 20,486 houses or apartments, and a median cost of homes of $418,018, real estate costs in Revere 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.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Revere, accounting for 39.62% of the city's housing units. Other types of housing that are prevalent in Revere include single-family detached homes ( 28.73%), large apartment complexes or high rise apartments ( 24.98%), and a few row houses and other attached homes ( 5.77%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Revere primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Revere has a mixture of owner-occupied and renter-occupied housing.

The housing in Revere was primarily built before 1939 ( 35.81%), making the housing stock in Revere some of the oldest overall in America, although there is a range of ages of homes in Revere. The next most important housing age is between 1940-1969 ( 30.80%), followed by between 1970-1999 ( 25.73%). There's also some housing in Revere built between 2000 and later ( 7.67%).

Revere Home Appreciation Rates

Appreciation rates for homes in Revere have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.84%, which ranks in the top 50% nationwide. This equates to an annual average Revere house appreciation rate of 0.18%.

Appreciation rates are so strong in Revere that despite a nationwide downturn in the housing market, Revere real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Revere appreciation rates continue to be some of the highest in America, at 12.91%, which is higher than appreciation rates in 98.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Revere. Revere 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 Revere's latest annual appreciation rate is higher 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 Revere differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Revere - 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 Revere real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$418,018

Revere, MA HOME PRICES

Value Range
> $1,309,000 0.2
$982,001 - $1,309,000 0.3
$654,001 - $982,000 4.1
$523,001 - $654,000 13.0
$393,001 - $523,000 34.5
$262,001 - $393,000 32.1
$131,001 - $262,000 11.3
$65,001 - $131,000 1.5
$0 - $65,000 2.9

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
8.58431969998828 38.1410256410256

Number Of Homes And Apartments:
20,486

Revere 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
61.63% 2.82% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,783 / per month

Homeownership Rate

Homeownership
Owners 49.05
Renters 50.95
Vacant 5.90

Housing Market Details

 

Age of Homes

AGE OF Revere HOMES
2000 or Newer 7.7
1970 - 1999 25.7
1940 - 1969 30.8
1939 or Older 35.8

Types of Homes

TYPE OF Revere HOMES
Single-Family 28.7
Townhomes 5.8
Small Apt. Buildings 39.6
Apt. Complexes 25.0
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Revere HOMES
No Bedroom 3.95
1 Bedroom 21.08
2 Bedrooms 35.74
3 Bedrooms 27.08
4 Bedrooms 9.38
5 or more bedrooms 2.76