Wakefield, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wakefield Neighborhoods Since 2000




Wakefield, 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

Wakefield Housing Market Information

With 26,847 people, 10,005 houses or apartments, and a median cost of homes of $500,353, real estate costs in Wakefield 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 Wakefield, accounting for 60.40% of the town's housing units. Other types of housing that are prevalent in Wakefield include duplexes, homes converted to apartments or other small apartment buildings ( 21.78%), large apartment complexes or high rise apartments ( 14.46%), and a few row houses and other attached homes ( 3.30%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wakefield. Owner-occupied housing accounts for 72.35% of Wakefield's homes, and 54.72% have either three or four bedrooms, which is average sized relative to America.

The housing in Wakefield was primarily built before 1939 ( 37.95%), making the housing stock in Wakefield some of the oldest overall in America, although there is a range of ages of homes in Wakefield. The next most important housing age is between 1940-1969 ( 34.95%), followed by between 1970-1999 ( 19.03%). There's also some housing in Wakefield built between 2000 and later ( 8.07%).

Wakefield Home Appreciation Rates

In the last 10 years, Wakefield has experienced some of the highest home appreciation rates of any community in the nation. Wakefield real estate appreciated 15.39% over the last ten years, which is an average annual home appreciation rate of 1.44%, putting Wakefield in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wakefield 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 Wakefield that despite a nationwide downturn in the housing market, Wakefield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wakefield appreciation rates continue to be some of the highest in America, at 6.14%, which is higher than appreciation rates in 75.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wakefield. Wakefield 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 Wakefield's latest annual appreciation rate is higher than 70% 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 Wakefield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wakefield - 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 Wakefield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$500,353

Wakefield, MA HOME PRICES

Value Range
> $1,192,000 0.5
$894,001 - $1,192,000 2.8
$596,001 - $894,000 19.6
$477,001 - $596,000 31.5
$358,001 - $477,000 32.1
$238,001 - $358,000 6.6
$119,001 - $238,000 4.0
$59,001 - $119,000 0.3
$0 - $59,000 2.6

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
5.95335755302942 23.3974358974359

Number Of Homes And Apartments:
10,005

Wakefield 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
63.51% 2.89% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,776 / per month

Homeownership Rate

Homeownership
Owners 72.35
Renters 27.65
Vacant 4.51

Housing Market Details

 

Age of Homes

AGE OF Wakefield HOMES
2000 or Newer 8.1
1970 - 1999 19.0
1940 - 1969 35.0
1939 or Older 37.9

Types of Homes

TYPE OF Wakefield HOMES
Single-Family 60.4
Townhomes 3.3
Small Apt. Buildings 21.8
Apt. Complexes 14.5
Mobile Homes 0.0
Other 0.1

Home Size

SIZE OF Wakefield HOMES
No Bedroom 2.25
1 Bedroom 13.54
2 Bedrooms 24.54
3 Bedrooms 37.32
4 Bedrooms 17.40
5 or more bedrooms 4.94