Lakeville, 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 Q2 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

Lakeville, MA Housing Market Trends

With a population of 11,561, 4,083 total housing units (homes and apartments), and a median house value of $441,424, real estate costs in Lakeville 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 Lakeville, accounting for 86.94% of the town's housing units. Other types of housing that are prevalent in Lakeville include large apartment complexes or high rise apartments ( 6.13%), duplexes, homes converted to apartments or other small apartment buildings ( 4.18%), and a few row houses and other attached homes ( 1.74%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lakeville. Owner-occupied housing accounts for 84.13% of Lakeville's homes, and 63.97% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lakeville 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 Lakeville built between 1940-1969 ( 26.53%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.87%). There's also some housing in Lakeville built before 1939 ( 9.13%).

Lakeville Home Appreciation Rates

Appreciation rates for homes in Lakeville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 45.47%, which ranks in the top 50% nationwide. This equates to an annual average Lakeville house appreciation rate of 3.82%.

Over the last year, Lakeville appreciation rates have trailed the rest of the nation. In the last twelve months, Lakeville's appreciation rate has been 8.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lakeville were at 3.02%, which equates to an annual appreciation rate of 12.64%.

Relative to Massachusetts, our data show that Lakeville's latest annual appreciation rate is lower than 70% of the other cities and towns in Massachusetts.

Average Home Values

 

Median Home Value:
$441,424

Lakeville, MA HOME PRICES

> $1,245,000
0.1%
0.1%
$934,001 - $1,245,000
3.8%
3.8%
$622,001 - $934,000
14.6%
14.6%
$498,001 - $622,000
22.2%
22.2%
$373,001 - $498,000
31.8%
31.8%
$249,001 - $373,000
18.0%
18.0%
$124,001 - $249,000
6.0%
6.0%
$62,001 - $124,000
1.3%
1.3%
$0 - $62,000
2.1%
2.1%
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:
4,083

Lakeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
88.23% 2.99%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,041 / per month

Homeownership Rate

Owners
84.1%
84.1%
Renters
15.9%
15.9%
Vacant
8.7%
8.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
21.9%
21.9%
1970 - 1999
42.5%
42.5%
1940 - 1969
26.5%
26.5%
1939 or Older
9.1%
9.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
86.9%
86.9%
Townhomes
1.7%
1.7%
Small Apt. Buildings
4.2%
4.2%
Apt. Complexes
6.1%
6.1%
Mobile Homes
1.0%
1.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
6.0%
6.0%
2 Bedrooms
26.3%
26.3%
3 Bedrooms
43.9%
43.9%
4 Bedrooms
20.1%
20.1%
5 or more bedrooms
3.8%
3.8%
0.0% 100.0%
% OF HOMES