Methuen, MA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Methuen, MA Housing Market Trends

With a population of 50,706, 17,907 total housing units (homes and apartments), and a median house value of $391,057, real estate costs in Methuen 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 Methuen, accounting for 60.58% of the city's housing units. Other types of housing that are prevalent in Methuen include duplexes, homes converted to apartments or other small apartment buildings ( 16.51%), large apartment complexes or high rise apartments ( 15.67%), and a few row houses and other attached homes ( 6.90%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Methuen. Owner-occupied housing accounts for 71.16% of Methuen's homes, and 60.68% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Methuen 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 Methuen built between 1940-1969 ( 26.30%). A lesser amount of the housing stock also hails from before 1939 ( 24.10%). There's also some housing in Methuen built between 2000 and later ( 12.19%).

Methuen Home Appreciation Rates

Appreciation rates for homes in Methuen have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 42.67%, which ranks in the top 40% nationwide. This equates to an annual average Methuen house appreciation rate of 3.62%.

Over the last year, Methuen appreciation rates have trailed the rest of the nation. In the last twelve months, Methuen's appreciation rate has been 5.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Methuen were at 2.09%, which equates to an annual appreciation rate of 8.63%.

Relative to Massachusetts, our data show that Methuen's latest annual appreciation rate is lower than 80% 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 Methuen differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Methuen - 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 Methuen real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$391,057

Methuen, MA HOME PRICES

> $1,172,000
0.4%
0.4%
$879,001 - $1,172,000
0.3%
0.3%
$586,001 - $879,000
8.3%
8.3%
$469,001 - $586,000
13.8%
13.8%
$351,001 - $469,000
37.9%
37.9%
$234,001 - $351,000
29.4%
29.4%
$117,001 - $234,000
7.2%
7.2%
$59,001 - $117,000
0.9%
0.9%
$0 - $59,000
1.9%
1.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Low for MA

Value Relative To Nation

Number Of Homes And Apartments:
17,907

Methuen Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
82.28% 2.90%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,278 / per month

Homeownership Rate

Owners
71.2%
71.2%
Renters
28.8%
28.8%
Vacant
4.2%
4.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
12.2%
12.2%
1970 - 1999
37.4%
37.4%
1940 - 1969
26.3%
26.3%
1939 or Older
24.1%
24.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
60.6%
60.6%
Townhomes
6.9%
6.9%
Small Apt. Buildings
16.5%
16.5%
Apt. Complexes
15.7%
15.7%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
8.5%
8.5%
2 Bedrooms
25.8%
25.8%
3 Bedrooms
44.5%
44.5%
4 Bedrooms
16.2%
16.2%
5 or more bedrooms
3.7%
3.7%
0.0% 100.0%
% OF HOMES