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 8,463, 3,753 total housing units (homes and apartments), and a median house value of $343,037, Montague real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Montague homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Montague, accounting for 51.92% of the town's housing units. Other types of housing that are prevalent in Montague include duplexes, homes converted to apartments or other small apartment buildings ( 26.47%), large apartment complexes or high rise apartments ( 16.56%), and a few row houses and other attached homes ( 2.96%).
People in Montague primarily live in small (one, two or no bedroom) single-family detached homes. Montague has a mixture of owner-occupied and renter-occupied housing.
The housing in Montague was primarily built before 1939 ( 43.40%), making the housing stock in Montague some of the oldest overall in America, although there is a range of ages of homes in Montague. The next most important housing age is between 1940-1969 ( 27.92%), followed by between 1970-1999 ( 23.80%). There's also some housing in Montague built between 2000 and later ( 4.88%).
Real estate appreciation rates in Montague's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.03% during the period.
Appreciation rates are so strong in Montague that despite a nationwide downturn in the housing market, Montague real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Montague appreciation rates continue to be some of the highest in America, at 8.66%, which is higher than appreciation rates in 77.53% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Montague. Montague appreciation rates in the latest quarter were at 0.85%, which equates to an annual appreciation rate of 3.44%.
Relative to Massachusetts, our data show that Montague's latest annual appreciation rate is higher than 60% of the other cities and towns in Massachusetts.
$343,037
for Massachusetts
for nation
3,753
$1,938 / per month