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 1,807 people, 999 houses or apartments, and a median cost of homes of $248,740, house prices in Cambridge are solidly below the national average.
Single-family detached homes are the single most common housing type in Cambridge, accounting for 62.46% of the village's housing units. Other types of housing that are prevalent in Cambridge include large apartment complexes or high rise apartments ( 14.36%), duplexes, homes converted to apartments or other small apartment buildings ( 13.75%), and a few mobile homes or trailers ( 8.82%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cambridge. Owner-occupied housing accounts for 72.83% of Cambridge's homes, and 49.13% have either three or four bedrooms, which is average sized relative to America.
The housing in Cambridge was primarily built before 1939 ( 57.87%), making the housing stock in Cambridge some of the oldest overall in America, although there is a range of ages of homes in Cambridge. The next most important housing age is between 1940-1969 ( 15.66%), followed by between 1970-1999 ( 13.84%). There's also some housing in Cambridge built between 2000 and later ( 12.63%).
Vacant housing appears to be an issue in Cambridge. Fully 13.58% of the housing stock is classified as vacant. Left unchecked, vacant Cambridge homes and apartments can be a drag on the real estate market, holding Cambridge 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.
Cambridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cambridge during the period has been just 5.16%, which is lower than 80% of US communities.
Over the last year, Cambridge appreciation rates have trailed the rest of the nation. In the last twelve months, Cambridge's appreciation rate has been 3.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cambridge were at -7.43%, which equates to an annual appreciation rate of -26.57%.
Notably, Cambridge's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Cambridge's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.
$248,740
for New york
for nation
999
$1,511 / per month