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 41,248 people, 16,121 houses or apartments, and a median cost of homes of $815,174, 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 48.99% of the city's housing units. Other types of housing that are prevalent in Woburn include large apartment complexes or high rise apartments ( 25.77%), duplexes, homes converted to apartments or other small apartment buildings ( 17.34%), and a few row houses and other attached homes ( 7.65%).
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 58.39% owning and 41.61% renting.
There is a lot of housing in Woburn 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 Woburn built between 1940-1969 ( 31.32%). A lesser amount of the housing stock also hails from before 1939 ( 21.10%). There's also some housing in Woburn built between 2000 and later ( 13.25%).
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 94.85%, which ranks in the top 50% nationwide. This equates to an annual average Woburn house appreciation rate of 6.90%.
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 9.53%, which is higher than appreciation rates in 84.65% 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 2.38%, which equates to an annual appreciation rate of 9.87%.
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.
$815,174
for Massachusetts
for nation
16,121
$4,213 / per month