Southbridge, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Southbridge Neighborhoods Since 2000




Southbridge, 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

Southbridge Housing Market Information

With a population of 16,865, 6,762 total housing units (homes and apartments), and a median house value of $189,264, Southbridge real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Southbridge homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Southbridge, accounting for 41.49% of the city's housing units. Other types of housing that are prevalent in Southbridge include single-family detached homes ( 36.91%), large apartment complexes or high rise apartments ( 16.03%), and a few row houses and other attached homes ( 5.22%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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

The housing in Southbridge was primarily built before 1939 ( 47.70%), making the housing stock in Southbridge some of the oldest overall in America, although there is a range of ages of homes in Southbridge. The next most important housing age is between 1970-1999 ( 24.43%), followed by between 1940-1969 ( 24.35%). There's also some housing in Southbridge built between 2000 and later ( 3.52%).

Southbridge Home Appreciation Rates

Southbridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Southbridge during the period has been just -2.05%, which is lower than 80% of US communities.

Over the last year, Southbridge appreciation rates have trailed the rest of the nation. In the last twelve months, Southbridge's appreciation rate has been 2.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Southbridge were at 0.33%, which equates to an annual appreciation rate of 1.33%.

Relative to Massachusetts, our data show that Southbridge's latest annual appreciation rate is lower than 80% 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 Southbridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Southbridge - 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 Southbridge real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$189,264

Southbridge, MA HOME PRICES

Value Range
> $1,108,000 0.7
$831,001 - $1,108,000 0.0
$554,001 - $831,000 0.2
$443,001 - $554,000 0.9
$333,001 - $443,000 4.0
$222,001 - $333,000 31.6
$111,001 - $222,000 55.8
$55,001 - $111,000 5.7
$0 - $55,000 1.1

Very Low for MA
High for Nation

Value Relative to Nation Value Relative to State
35.090237899918 96.1538461538462

Number Of Homes And Apartments:
6,762

Southbridge 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
42.85% 2.09% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,137 / per month

Homeownership Rate

Homeownership
Owners 43.53
Renters 56.47
Vacant 9.43

Housing Market Details

 

Age of Homes

AGE OF Southbridge HOMES
2000 or Newer 3.5
1970 - 1999 24.4
1940 - 1969 24.4
1939 or Older 47.7

Types of Homes

TYPE OF Southbridge HOMES
Single-Family 36.9
Townhomes 5.2
Small Apt. Buildings 41.5
Apt. Complexes 16.0
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Southbridge HOMES
No Bedroom 2.28
1 Bedroom 14.40
2 Bedrooms 37.81
3 Bedrooms 36.19
4 Bedrooms 7.82
5 or more bedrooms 1.50