Westborough, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Westborough Neighborhoods Since 2000




Westborough, 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 Q2 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

Westborough Housing Market Information

With 18,934 people, 6,992 houses or apartments, and a median cost of homes of $420,731, 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 50.70% of the town's housing units. Other types of housing that are prevalent in Westborough include large apartment complexes or high rise apartments ( 31.09%), duplexes, homes converted to apartments or other small apartment buildings ( 9.98%), and a few row houses and other attached homes ( 8.07%).

The most prevalent building size and type in Westborough are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.74% owning and 39.26% renting.

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 ( 23.43%). A lesser amount of the housing stock also hails from before 1939 ( 15.89%). There's also some housing in Westborough built between 2000 and later ( 11.86%).

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 7.28%, which ranks in the top 40% nationwide. This equates to an annual average Westborough house appreciation rate of 0.71%.

NeighborhoodScout's data show that during the latest twelve months, Westborough's appreciation rate, at 6.18%, has been at or slightly above the national average. In the latest quarter, Westborough's appreciation rate has been 3.27%, which annualizes to a rate of 13.71%.

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

Average Home Values

 

Median Home Value:
$420,731

Westborough, MA HOME PRICES

Value Range
> $1,179,000 1.1
$885,001 - $1,179,000 3.9
$590,001 - $885,000 23.8
$471,001 - $590,000 19.9
$354,001 - $471,000 29.3
$236,001 - $354,000 14.9
$118,001 - $236,000 3.7
$59,001 - $118,000 0.5
$0 - $59,000 2.9

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
9.04619708413842 41.025641025641

Number Of Homes And Apartments:
6,992

Westborough Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
46.71% 2.21% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,784 / per month

Homeownership Rate

Homeownership
Owners 60.74
Renters 39.26
Vacant 4.70

Housing Market Details

 

Age of Homes

AGE OF Westborough HOMES
2000 or Newer 11.9
1970 - 1999 48.8
1940 - 1969 23.4
1939 or Older 15.9

Types of Homes

TYPE OF Westborough HOMES
Single-Family 50.7
Townhomes 8.1
Small Apt. Buildings 10.0
Apt. Complexes 31.1
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Westborough HOMES
No Bedroom 3.08
1 Bedroom 15.21
2 Bedrooms 28.70
3 Bedrooms 20.49
4 Bedrooms 26.52
5 or more bedrooms 6.00