Dracut, 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 Q1 2021. 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

Dracut, MA Housing Market Trends

With a population of 31,634, 11,501 total housing units (homes and apartments), and a median house value of $413,503, real estate costs in Dracut 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 Dracut, accounting for 67.45% of the town's housing units. Other types of housing that are prevalent in Dracut include large apartment complexes or high rise apartments ( 19.15%), duplexes, homes converted to apartments or other small apartment buildings ( 8.17%), and a few row houses and other attached homes ( 5.24%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Dracut. Owner-occupied housing accounts for 78.54% of Dracut's homes, and 58.04% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Dracut 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 Dracut built between 1940-1969 ( 28.12%). A lesser amount of the housing stock also hails from before 1939 ( 14.27%). There's also some housing in Dracut built between 2000 and later ( 10.81%).

Dracut Home Appreciation Rates

Appreciation rates for homes in Dracut have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 49.87%, which ranks in the top 30% nationwide. This equates to an annual average Dracut house appreciation rate of 4.13%.

NeighborhoodScout's data show that during the latest twelve months, Dracut's appreciation rate, at 6.41%, has been at or slightly above the national average. In the latest quarter, Dracut's appreciation rate has been 1.52%, which annualizes to a rate of 6.20%.

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

Average Home Values

 

Median Home Value:
$413,503

Dracut, MA HOME PRICES

> $1,219,000
0.9%
0.9%
$914,001 - $1,219,000
1.3%
1.3%
$609,001 - $914,000
9.0%
9.0%
$488,001 - $609,000
15.0%
15.0%
$366,001 - $488,000
35.7%
35.7%
$244,001 - $366,000
24.2%
24.2%
$122,001 - $244,000
11.6%
11.6%
$61,001 - $122,000
0.3%
0.3%
$0 - $61,000
2.0%
2.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for MA

Value Relative To Nation

Number Of Homes And Apartments:
11,501

Dracut Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
88.99% 3.04%
6
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,402 / per month

Homeownership Rate

Owners
78.5%
78.5%
Renters
21.5%
21.5%
Vacant
2.9%
2.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.8%
10.8%
1970 - 1999
46.8%
46.8%
1940 - 1969
28.1%
28.1%
1939 or Older
14.3%
14.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.5%
67.5%
Townhomes
5.2%
5.2%
Small Apt. Buildings
8.2%
8.2%
Apt. Complexes
19.1%
19.1%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.4%
1.4%
1 Bedroom
5.4%
5.4%
2 Bedrooms
32.0%
32.0%
3 Bedrooms
39.5%
39.5%
4 Bedrooms
18.5%
18.5%
5 or more bedrooms
3.2%
3.2%
0.0% 100.0%
% OF HOMES