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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 58,528 people, 21,540 houses or apartments, and a median cost of homes of $692,587, real estate costs in Revere 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.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Revere, accounting for 33.09% of the city's housing units. Other types of housing that are prevalent in Revere include single-family detached homes ( 30.84%), large apartment complexes or high rise apartments ( 29.49%), and a few row houses and other attached homes ( 5.84%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Revere primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Revere has a mixture of owner-occupied and renter-occupied housing.
The housing in Revere was primarily built before 1939 ( 29.67%), making the housing stock in Revere some of the oldest overall in America, although there is a range of ages of homes in Revere. The next most important housing age is between 1940-1969 ( 28.71%), followed by between 1970-1999 ( 25.04%). There's also some housing in Revere built between 2000 and later ( 16.58%).
Appreciation rates for homes in Revere have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 114.95%, which ranks in the top 30% nationwide. This equates to an annual average Revere house appreciation rate of 7.95%.
Over the last year, Revere appreciation rates have trailed the rest of the nation. In the last twelve months, Revere's appreciation rate has been 4.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Revere were at 2.38%, which equates to an annual appreciation rate of 9.87%.
Relative to Massachusetts, our data show that Revere's latest annual appreciation rate is lower than 90% 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 Revere differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Revere - 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 Revere real estate investment or home purchase decisions.
$692,587
for Massachusetts
for nation
21,540
$3,098 / per month