Holyoke, 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

Holyoke, MA Housing Market Trends

With a population of 40,117, 15,278 total housing units (homes and apartments), and a median house value of $238,451, Holyoke real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Holyoke homes are still considered rather expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Holyoke, accounting for 37.51% of the city's housing units. Other types of housing that are prevalent in Holyoke include single-family detached homes ( 32.92%), duplexes, homes converted to apartments or other small apartment buildings ( 25.53%), and a few row houses and other attached homes ( 3.99%). 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.

People in Holyoke primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Holyoke has a mixture of owner-occupied and renter-occupied housing.

The housing in Holyoke was primarily built before 1939 ( 45.00%), making the housing stock in Holyoke some of the oldest overall in America, although there is a range of ages of homes in Holyoke. The next most important housing age is between 1940-1969 ( 30.20%), followed by between 1970-1999 ( 20.42%). There's also some housing in Holyoke built between 2000 and later ( 4.38%).

Vacant housing appears to be an issue in Holyoke. Fully 10.03% of the housing stock is classified as vacant. Left unchecked, vacant Holyoke homes and apartments can be a drag on the real estate market, holding Holyoke real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Holyoke Home Appreciation Rates

Real estate appreciation rates in Holyoke's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.51% during the period.

Appreciation rates are so strong in Holyoke that despite a nationwide downturn in the housing market, Holyoke real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Holyoke appreciation rates continue to be some of the highest in America, at 8.03%, which is higher than appreciation rates in 74.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Holyoke. Holyoke appreciation rates in the latest quarter were at 3.23%, which equates to an annual appreciation rate of 13.55%.

Importantly, NeighborhoodScout’s exclusive research found that Holyoke's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Massachusetts, our data show that Holyoke's latest annual appreciation rate is higher than 70% 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 Holyoke differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Holyoke - 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 Holyoke real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$238,451

Holyoke, MA HOME PRICES

> $1,211,000
0.6%
0.6%
$909,001 - $1,211,000
1.1%
1.1%
$606,001 - $909,000
2.8%
2.8%
$485,001 - $606,000
1.0%
1.0%
$363,001 - $485,000
7.2%
7.2%
$242,001 - $363,000
23.4%
23.4%
$121,001 - $242,000
53.0%
53.0%
$61,001 - $121,000
8.4%
8.4%
$0 - $61,000
2.5%
2.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very Low for MA

Value Relative To Nation

Number Of Homes And Apartments:
15,278

Holyoke 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
91.40% 3.10%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,312 / per month

Homeownership Rate

Owners
39.4%
39.4%
Renters
60.6%
60.6%
Vacant
10.0%
10.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.4%
4.4%
1970 - 1999
20.4%
20.4%
1940 - 1969
30.2%
30.2%
1939 or Older
45.0%
45.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
32.9%
32.9%
Townhomes
4.0%
4.0%
Small Apt. Buildings
25.5%
25.5%
Apt. Complexes
37.5%
37.5%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.9%
2.9%
1 Bedroom
16.9%
16.9%
2 Bedrooms
33.6%
33.6%
3 Bedrooms
35.2%
35.2%
4 Bedrooms
9.0%
9.0%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES