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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



North Andover, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

North Andover, MA Housing Market Trends

With 31,295 people, 11,311 houses or apartments, and a median cost of homes of $648,378, real estate costs in North Andover 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 North Andover, accounting for 52.68% of the town's housing units. Other types of housing that are prevalent in North Andover include large apartment complexes or high rise apartments ( 26.29%), duplexes, homes converted to apartments or other small apartment buildings ( 10.58%), and a few row houses and other attached homes ( 10.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Andover. Owner-occupied housing accounts for 67.33% of North Andover's homes, and 59.35% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in North Andover 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 North Andover built between 1940-1969 ( 23.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.50%). There's also some housing in North Andover built before 1939 ( 14.83%).

North Andover Home Appreciation Rates

Real estate appreciation rates in North Andover's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.71% during the period.

NeighborhoodScout's data show that during the latest twelve months, North Andover's appreciation rate, at 6.13%, has been at or slightly above the national average. In the latest quarter, North Andover's appreciation rate has been 1.11%, which annualizes to a rate of 4.52%.

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

Average Home Values

Median Home Value

$648,378

North Andover, MA Home Prices
> $1,281,000
$961,001 - $1,281,000
$641,001 - $961,000
$513,001 - $641,000
$385,001 - $513,000
$257,001 - $385,000
$128,001 - $257,000
$64,001 - $128,000
$0 - $64,000
7.6%
7.6%
22.6%
22.6%
32.6%
32.6%
14.5%
14.5%
7.6%
7.6%
12.1%
12.1%
1.7%
1.7%
0.8%
0.8%
0.6%
0.6%
0% 100.0%
% of Homes
Average

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

11,311

North Andover Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,214 / per month

Homeownership Rate

Owners
Renters
67.3%
67.3%
32.7%
32.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.7%
4.7%
95.3%
95.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.5%
17.5%
43.7%
43.7%
23.9%
23.9%
14.8%
14.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
52.7%
52.7%
10.5%
10.5%
10.6%
10.6%
26.3%
26.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.3%
1.3%
9.2%
9.2%
25.7%
25.7%
31.3%
31.3%
28.1%
28.1%
4.4%
4.4%
0% 100.0%
% of Homes