The housing market in Massachusetts State is very expensive compared to the rest of the US due to its median value of $557,300. This is almost double the US median value of $338,100, and it has been appreciating at a rate of 5.13% over the past year - significantly lower than the 8.27% appreciation rate seen nationally over this same period. Despite this slower appreciation rate, Massachusetts State remains an expensive place to buy a home in comparison to other parts of the country.
The median home cost in Massachusetts is $557,300. Home appreciation the last 10 years has been 86.4%. Home Appreciation in Massachusetts is up 13.1%.
Average Age of Homes
- The median age of Massachusetts real estate is 57 years old
The Rental Market in Massachusetts
- Renters make up 34.0% of the Massachusetts population
- 1.2% of houses and apartments in Massachusetts, 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.