Southborough, MA Real Estate Market

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 Q3 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Southborough, MA Housing Market Trends

With a population of 10,450, 3,542 total housing units (homes and apartments), and a median house value of $850,760, Southborough house prices are not only among the most expensive in Massachusetts, Southborough real estate also is some of the most expensive in all of America.

Southborough is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Southborough than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Southborough. Owner-occupied housing accounts for 88.65% of Southborough's homes, and 67.60% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Southborough 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 Southborough built between 1940-1969 ( 25.38%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.42%). There's also some housing in Southborough built before 1939 ( 13.76%).

Southborough Home Appreciation Rates

Appreciation rates for homes in Southborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 56.19%, which ranks in the top 40% nationwide. This equates to an annual average Southborough house appreciation rate of 4.56%.

Appreciation rates are so strong in Southborough that despite a nationwide downturn in the housing market, Southborough real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Southborough appreciation rates continue to be some of the highest in America, at 15.89%, which is higher than appreciation rates in 78.70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Southborough. Southborough appreciation rates in the latest quarter were at 6.32%, which equates to an annual appreciation rate of 27.77%.

Importantly, this makes Southborough one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$850,760

Southborough, MA HOME PRICES

> $1,311,000
10.3%
10.3%
$983,001 - $1,311,000
17.1%
17.1%
$656,001 - $983,000
39.7%
39.7%
$524,001 - $656,000
13.6%
13.6%
$393,001 - $524,000
12.2%
12.2%
$262,001 - $393,000
5.8%
5.8%
$131,001 - $262,000
0.2%
0.2%
$66,001 - $131,000
0.2%
0.2%
$0 - $66,000
0.8%
0.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MA

Value Relative To Nation

Number Of Homes And Apartments:
3,542

Southborough Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
96.16% 3.15%
4
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,126 / per month

Homeownership Rate

Owners
88.7%
88.7%
Renters
11.3%
11.3%
Vacant
3.3%
3.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
21.4%
21.4%
1970 - 1999
39.4%
39.4%
1940 - 1969
25.4%
25.4%
1939 or Older
13.8%
13.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
84.6%
84.6%
Townhomes
6.6%
6.6%
Small Apt. Buildings
4.7%
4.7%
Apt. Complexes
3.9%
3.9%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
5.5%
5.5%
2 Bedrooms
16.2%
16.2%
3 Bedrooms
25.1%
25.1%
4 Bedrooms
42.5%
42.5%
5 or more bedrooms
9.5%
9.5%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Southborough

Zip Codes in Southborough, MA