Chelsea, MA is an area with a booming housing market. The median value of housing in Chelsea is $456,800 which is significantly higher than the US median value of $338,100. This shows the strength of the local economy and how desirable the area is for potential homeowners. Though the US house appreciation rate was 8.27%, house appreciation in Chelsea was only 5.64% over the past year which can be attributed to its already high housing prices not leaving much room for further value growth. Overall, Chelsea is a great place to invest in property due to its strong economic standing as well as its attractive housing market.
The median home cost in Chelsea is $456,800. Home appreciation the last 10 years has been 104.4%. Home Appreciation in Chelsea is up 10.6%.
Average Age of Homes
- The median age of Chelsea real estate is 78 years old
The Rental Market in Chelsea
- Renters make up 66.7% of the Chelsea population
- 1.4% of houses and apartments in Chelsea, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.