Shrewsbury, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Shrewsbury Neighborhoods Since 2000




Shrewsbury, 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

Shrewsbury Housing Market Information

With 36,805 people, 12,888 houses or apartments, and a median cost of homes of $423,758, real estate costs in Shrewsbury 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 Shrewsbury, accounting for 63.59% of the town's housing units. Other types of housing that are prevalent in Shrewsbury include large apartment complexes or high rise apartments ( 21.50%), duplexes, homes converted to apartments or other small apartment buildings ( 7.71%), and a few row houses and other attached homes ( 6.93%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Shrewsbury. Owner-occupied housing accounts for 72.54% of Shrewsbury's homes, and 56.66% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Shrewsbury built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Shrewsbury built between 1940-1969 ( 31.06%). A lesser amount of the housing stock also hails from before 1939 ( 14.33%). There's also some housing in Shrewsbury built between 2000 and later ( 11.94%).

Shrewsbury Home Appreciation Rates

Appreciation rates for homes in Shrewsbury have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.52%, which ranks in the top 50% nationwide. This equates to an annual average Shrewsbury house appreciation rate of 0.05%.

NeighborhoodScout's data show that during the latest twelve months, Shrewsbury's appreciation rate, at 4.02%, has been at or slightly above the national average. In the latest quarter, Shrewsbury's appreciation rate has been 0.33%, which annualizes to a rate of 1.33%.

Relative to Massachusetts, our data show that Shrewsbury's latest annual appreciation rate is lower than 60% 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 town. Individual neighborhoods within Shrewsbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shrewsbury - 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 Shrewsbury real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$423,758

Shrewsbury, MA HOME PRICES

Value Range
> $1,118,000 1.0
$838,001 - $1,118,000 2.7
$559,001 - $838,000 18.4
$447,001 - $559,000 19.3
$335,001 - $447,000 24.8
$224,001 - $335,000 22.8
$112,001 - $224,000 6.6
$56,001 - $112,000 1.1
$0 - $56,000 3.3

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
8.38509316770186 36.5384615384615

Number Of Homes And Apartments:
12,888

Shrewsbury 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
49.82% 2.37% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,596 / per month

Homeownership Rate

Homeownership
Owners 72.54
Renters 27.46
Vacant 6.66

Housing Market Details

 

Age of Homes

AGE OF Shrewsbury HOMES
2000 or Newer 11.9
1970 - 1999 42.7
1940 - 1969 31.1
1939 or Older 14.3

Types of Homes

TYPE OF Shrewsbury HOMES
Single-Family 63.6
Townhomes 6.9
Small Apt. Buildings 7.7
Apt. Complexes 21.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Shrewsbury HOMES
No Bedroom 2.01
1 Bedroom 10.84
2 Bedrooms 25.33
3 Bedrooms 31.69
4 Bedrooms 24.97
5 or more bedrooms 5.16