Woburn, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Woburn, 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

Woburn Housing Market Information

With 39,555 people, 14,746 houses or apartments, and a median cost of homes of $431,040, real estate costs in Woburn 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 Woburn, accounting for 48.89% of the city's housing units. Other types of housing that are prevalent in Woburn include large apartment complexes or high rise apartments ( 24.60%), duplexes, homes converted to apartments or other small apartment buildings ( 17.97%), and a few row houses and other attached homes ( 8.02%).

The most prevalent building size and type in Woburn are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.07% owning and 39.93% renting.

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. Woburn's housing was primarily built during this period, from the '40s through the '60s. A full 39.03% of the city's housing hails from this era. Other housing ages represented in Woburn include homes built between 1970-1999 ( 28.69%) and housing constructed before 1939 ( 24.70%). There's also some housing in Woburn built between 2000 and later ( 7.58%).

Woburn Home Appreciation Rates

Appreciation rates for homes in Woburn have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.64%, which ranks in the top 30% nationwide. This equates to an annual average Woburn house appreciation rate of 1.20%.

Appreciation rates are so strong in Woburn that despite a nationwide downturn in the housing market, Woburn real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Woburn appreciation rates continue to be some of the highest in America, at 5.75%, which is higher than appreciation rates in 71.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Woburn. Woburn 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 Woburn'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 city. Individual neighborhoods within Woburn differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Woburn - 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 Woburn real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$431,040

Woburn, MA HOME PRICES

Value Range
> $1,205,000 0.2
$904,001 - $1,205,000 1.0
$602,001 - $904,000 10.3
$482,001 - $602,000 22.3
$361,001 - $482,000 45.4
$241,001 - $361,000 13.6
$121,001 - $241,000 4.0
$60,001 - $121,000 0.3
$0 - $60,000 2.8

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
8.03937653814602 34.9358974358974

Number Of Homes And Apartments:
14,746

Woburn 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
62.73% 2.86% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,022 / per month

Homeownership Rate

Homeownership
Owners 60.07
Renters 39.93
Vacant 5.56

Housing Market Details

 

Age of Homes

AGE OF Woburn HOMES
2000 or Newer 7.6
1970 - 1999 28.7
1940 - 1969 39.0
1939 or Older 24.7

Types of Homes

TYPE OF Woburn HOMES
Single-Family 48.9
Townhomes 8.0
Small Apt. Buildings 18.0
Apt. Complexes 24.6
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Woburn HOMES
No Bedroom 1.10
1 Bedroom 17.22
2 Bedrooms 28.97
3 Bedrooms 34.76
4 Bedrooms 13.72
5 or more bedrooms 4.23