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 24,247, 8,069 total housing units (homes and apartments), and a median house value of $608,993, real estate costs in Medford are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New York communities.
Single-family detached homes are the single most common housing type in Medford, accounting for 80.05% of the town's housing units. Other types of housing that are prevalent in Medford include row houses and other attached homes ( 9.17%), large apartment complexes or high rise apartments ( 5.24%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.16%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Medford. Owner-occupied housing accounts for 90.02% of Medford's homes, and 72.21% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Medford 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 Medford built between 1940-1969 ( 22.79%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.54%). There's also some housing in Medford built before 1939 ( 4.16%).
Appreciation rates for homes in Medford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.34%, which ranks in the top 30% nationwide. This equates to an annual average Medford house appreciation rate of 7.56%.
Appreciation rates are so strong in Medford that despite a nationwide downturn in the housing market, Medford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Medford appreciation rates continue to be some of the highest in America, at 10.02%, which is higher than appreciation rates in 87.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Medford. Medford appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New York, our data show that Medford's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Medford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Medford - 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 Medford real estate investment or home purchase decisions.
$608,993
for New york
for nation
8,069
$4,415 / per month