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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Reading, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Reading, MA Housing Market Trends

With 25,205 people, 9,478 houses or apartments, and a median cost of homes of $902,428, Reading house prices are not only among the most expensive in Massachusetts, Reading real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Reading, accounting for 72.42% of the town's housing units. Other types of housing that are prevalent in Reading include large apartment complexes or high rise apartments ( 18.17%), duplexes, homes converted to apartments or other small apartment buildings ( 7.43%), and a few row houses and other attached homes ( 1.98%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Reading. Owner-occupied housing accounts for 83.26% of Reading's homes, and 66.47% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Reading's housing was primarily built during this period, from the '40s through the '60s. A full 36.69% of the town's housing hails from this era. Other housing ages represented in Reading include homes built before 1939 ( 28.60%) and housing constructed between 1970-1999 ( 22.31%). There's also some housing in Reading built between 2000 and later ( 12.40%).

Reading Home Appreciation Rates

Real estate appreciation rates in Reading's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.88% during the period.

NeighborhoodScout's data show that during the latest twelve months, Reading's appreciation rate, at 6.13%, has been at or slightly above the national average. In the latest quarter, Reading's appreciation rate has been 1.11%, which annualizes to a rate of 4.52%.

Relative to Massachusetts, our data show that Reading's latest annual appreciation rate is lower than 60% of the other cities and towns in Massachusetts.

Average Home Values

Median Home Value

$902,428

Reading, MA Home Prices
> $1,236,000
$927,001 - $1,236,000
$618,001 - $927,000
$494,001 - $618,000
$371,001 - $494,000
$247,001 - $371,000
$124,001 - $247,000
$62,001 - $124,000
$0 - $62,000
10.6%
10.6%
32.6%
32.6%
42.5%
42.5%
7.5%
7.5%
2.4%
2.4%
2.4%
2.4%
0.8%
0.8%
0.8%
0.8%
0.4%
0.4%
0% 100.0%
% of Homes
Very High

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

9,478

Reading Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,504 / per month

Homeownership Rate

Owners
Renters
83.3%
83.3%
16.7%
16.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.6%
2.6%
97.4%
97.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.4%
12.4%
22.3%
22.3%
36.7%
36.7%
28.6%
28.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.4%
72.4%
2.0%
2.0%
7.4%
7.4%
18.2%
18.2%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
8.4%
8.4%
19.4%
19.4%
38.2%
38.2%
28.3%
28.3%
4.9%
4.9%
0% 100.0%
% of Homes