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 a population of 21,506, 7,962 total housing units (homes and apartments), and a median house value of $730,225, real estate costs in Westborough 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 Westborough, accounting for 49.26% of the town's housing units. Other types of housing that are prevalent in Westborough include large apartment complexes or high rise apartments ( 32.48%), duplexes, homes converted to apartments or other small apartment buildings ( 10.21%), and a few row houses and other attached homes ( 7.93%).
People in Westborough primarily live in small (one, two or no bedroom) single-family detached homes. Westborough has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Westborough 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 Westborough built between 1940-1969 ( 28.52%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.50%). There's also some housing in Westborough built before 1939 ( 11.40%).
Appreciation rates for homes in Westborough have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.43%, which ranks in the top 50% nationwide. This equates to an annual average Westborough house appreciation rate of 6.60%.
Appreciation rates are so strong in Westborough that despite a nationwide downturn in the housing market, Westborough real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westborough appreciation rates continue to be some of the highest in America, at 8.82%, which is higher than appreciation rates in 79.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westborough. Westborough appreciation rates in the latest quarter were at 3.22%, which equates to an annual appreciation rate of 13.53%.
Importantly, this makes Westborough one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Massachusetts, our data show that Westborough's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.
$730,225
for Massachusetts
for nation
7,962
$4,080 / per month