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 118,488 people, 49,475 houses or apartments, and a median cost of homes of $1,550,709, Cambridge house prices are not only among the most expensive in Massachusetts, Cambridge real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Cambridge, accounting for 54.33% of the city's housing units. Other types of housing that are prevalent in Cambridge include duplexes, homes converted to apartments or other small apartment buildings ( 29.63%), single-family detached homes ( 9.78%), and a few row houses and other attached homes ( 6.26%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Cambridge is dominated by renter-occupied one, two, or no bedrooms apartments. 70.73% of Cambridge's dwellings are rentals.
The housing in Cambridge was primarily built before 1939 ( 48.20%), making the housing stock in Cambridge some of the oldest overall in America, although there is a range of ages of homes in Cambridge. The next most important housing age is between 1970-1999 ( 21.61%), followed by between 2000 and later ( 17.26%). There's also some housing in Cambridge built between 1940-1969 ( 12.93%).
Appreciation rates for homes in Cambridge have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 110.93%, which ranks in the top 30% nationwide. This equates to an annual average Cambridge house appreciation rate of 7.75%.
Appreciation rates are so strong in Cambridge that despite a nationwide downturn in the housing market, Cambridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cambridge appreciation rates continue to be some of the highest in America, at 8.05%, which is higher than appreciation rates in 70.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cambridge. Cambridge appreciation rates in the latest quarter were at 2.38%, which equates to an annual appreciation rate of 9.87%.
Relative to Massachusetts, our data show that Cambridge's latest annual appreciation rate is higher than 50% 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 Cambridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cambridge - 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 Cambridge real estate investment or home purchase decisions.
$1,550,709
for Massachusetts
for nation
49,475
$5,165 / per month