Wareham, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wareham Neighborhoods Since 2000




Wareham, MA Real Estate Data


Wareham Housing Market Information

With a population of 22,408, 9,125 total housing units (homes and apartments), and a median house value of $266,288, Wareham real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Wareham homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Wareham, accounting for 77.25% of the town's housing units. Other types of housing that are prevalent in Wareham include mobile homes or trailers ( 6.84%), duplexes, homes converted to apartments or other small apartment buildings ( 6.48%), and a few large apartment complexes or high rise apartments ( 6.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wareham. Owner-occupied housing accounts for 77.19% of Wareham's homes, and 52.02% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wareham's housing was primarily built during this period, from the '40s through the '60s. A full 35.62% of the town's housing hails from this era. Other housing ages represented in Wareham include homes built between 1970-1999 ( 29.89%) and housing constructed before 1939 ( 22.87%). There's also some housing in Wareham built between 2000 and later ( 11.61%).

Vacant housing appears to be an issue in Wareham. Fully 27.97% of the housing stock is classified as vacant. Left unchecked, vacant Wareham homes and apartments can be a drag on the real estate market, holding Wareham real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Wareham Home Appreciation Rates

Wareham's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wareham during the period has been just -1.72%, which is lower than 80% of US communities.

Over the last year, Wareham appreciation rates have trailed the rest of the nation. In the last twelve months, Wareham's appreciation rate has been 3.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wareham were at 0.63%, which equates to an annual appreciation rate of 2.54%.

Relative to Massachusetts, our data show that Wareham's latest annual appreciation rate is lower than 70% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$266,288

Wareham, MA HOME PRICES

Value Range
> $1,087,000 1.0
$815,001 - $1,087,000 1.2
$544,001 - $815,000 4.8
$435,001 - $544,000 6.5
$326,001 - $435,000 17.2
$217,001 - $326,000 38.8
$109,001 - $217,000 20.4
$54,001 - $109,000 3.5
$0 - $54,000 6.2

Very Low for MA
Very High for Nation

Value Relative to Nation Value Relative to State
19.969530059768 80.7692307692308

Number Of Homes And Apartments:
9,125

Rent & Ownership

 

Average Market Rent:
$1,618 / per month

Homeownership Rate

Homeownership
Owners 77.19
Renters 22.81
Vacant 27.97

Housing Market Details

 

Age of Homes

AGE OF Wareham HOMES
2000 or Newer 11.6
1970 - 1999 29.9
1940 - 1969 35.6
1939 or Older 22.9

Types of Homes

TYPE OF Wareham HOMES
Single-Family 77.3
Townhomes 3.3
Small Apt. Buildings 6.5
Apt. Complexes 6.1
Mobile Homes 6.8
Other 0.0

Home Size

SIZE OF Wareham HOMES
No Bedroom 1.05
1 Bedroom 8.33
2 Bedrooms 36.51
3 Bedrooms 39.02
4 Bedrooms 12.99
5 or more bedrooms 2.10

Wareham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
48.93% 2.34% 6 6
* 10 is highest