Westborough, 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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Westborough, MA Housing Market Trends

With 21,567 people, 6,961 houses or apartments, and a median cost of homes of $545,169, real estate costs in Westborough 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 Westborough, accounting for 49.53% of the town's housing units. Other types of housing that are prevalent in Westborough include large apartment complexes or high rise apartments ( 33.67%), row houses and other attached homes ( 8.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.96%).

People in Westborough primarily live in small (one, two or no bedroom) single-family detached homes. Westborough has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Westborough 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 Westborough built between 1940-1969 ( 24.64%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.17%). There's also some housing in Westborough built before 1939 ( 11.84%).

Westborough Home Appreciation Rates

Appreciation rates for homes in Westborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 69.13%, which ranks in the top 40% nationwide. This equates to an annual average Westborough house appreciation rate of 5.40%.

Appreciation rates are so strong in Westborough that despite a nationwide downturn in the housing market, Westborough real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westborough appreciation rates continue to be some of the highest in America, at 21.38%, which is higher than appreciation rates in 76.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westborough. Westborough appreciation rates in the latest quarter were at 7.27%, which equates to an annual appreciation rate of 32.38%.

Relative to Massachusetts, our data show that Westborough's latest annual appreciation rate is higher than 60% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$545,169

Westborough, MA HOME PRICES

> $1,328,000
1.9%
1.9%
$996,001 - $1,328,000
8.4%
8.4%
$664,001 - $996,000
30.8%
30.8%
$531,001 - $664,000
24.8%
24.8%
$399,001 - $531,000
17.9%
17.9%
$266,001 - $399,000
10.3%
10.3%
$133,001 - $266,000
4.1%
4.1%
$66,001 - $133,000
1.0%
1.0%
$0 - $66,000
0.8%
0.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for MA

Value Relative To Nation

Number Of Homes And Apartments:
6,961

Westborough Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
105.49% 3.33%
3
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,115 / per month

Homeownership Rate

Owners
60.4%
60.4%
Renters
39.6%
39.6%
Vacant
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.2%
18.2%
1970 - 1999
45.4%
45.4%
1940 - 1969
24.6%
24.6%
1939 or Older
11.8%
11.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
49.5%
49.5%
Townhomes
8.8%
8.8%
Small Apt. Buildings
8.0%
8.0%
Apt. Complexes
33.7%
33.7%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.5%
4.5%
1 Bedroom
16.7%
16.7%
2 Bedrooms
28.8%
28.8%
3 Bedrooms
21.1%
21.1%
4 Bedrooms
24.4%
24.4%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES