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 a population of 43,646, 18,474 total housing units (homes and apartments), and a median house value of $469,911, Leominster real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Leominster, accounting for 50.77% of the city's housing units. Other types of housing that are prevalent in Leominster include large apartment complexes or high rise apartments ( 24.32%), duplexes, homes converted to apartments or other small apartment buildings ( 18.51%), and a few row houses and other attached homes ( 5.61%).
People in Leominster primarily live in small (one, two or no bedroom) single-family detached homes. Leominster has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Leominster 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 Leominster built between 1940-1969 ( 28.85%). A lesser amount of the housing stock also hails from before 1939 ( 28.06%). There's also some housing in Leominster built between 2000 and later ( 9.89%).
Appreciation rates for homes in Leominster have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 104.50%, which ranks in the top 30% nationwide. This equates to an annual average Leominster house appreciation rate of 7.42%.
Over the last year, Leominster appreciation rates have trailed the rest of the nation. In the last twelve months, Leominster's appreciation rate has been 5.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Leominster were at 3.22%, which equates to an annual appreciation rate of 13.53%.
Importantly, this makes Leominster one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Massachusetts, our data show that Leominster'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 Leominster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Leominster - 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 Leominster real estate investment or home purchase decisions.
$469,911
for Massachusetts
for nation
18,474
$2,128 / per month