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 41,502, 16,645 total housing units (homes and apartments), and a median house value of $368,094, Fitchburg real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Fitchburg homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Fitchburg, accounting for 43.00% of the city's housing units. Other types of housing that are prevalent in Fitchburg include duplexes, homes converted to apartments or other small apartment buildings ( 30.50%), large apartment complexes or high rise apartments ( 19.34%), and a few row houses and other attached homes ( 6.72%).
People in Fitchburg primarily live in small (one, two or no bedroom) single-family detached homes. Fitchburg has a mixture of owner-occupied and renter-occupied housing.
The housing in Fitchburg was primarily built before 1939 ( 42.59%), making the housing stock in Fitchburg some of the oldest overall in America, although there is a range of ages of homes in Fitchburg. The next most important housing age is between 1940-1969 ( 29.57%), followed by between 1970-1999 ( 18.36%). There's also some housing in Fitchburg built between 2000 and later ( 9.47%).
In the last 10 years, Fitchburg has experienced some of the highest home appreciation rates of any community in the nation. Fitchburg real estate appreciated 125.35% over the last ten years, which is an average annual home appreciation rate of 8.46%, putting Fitchburg in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fitchburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Fitchburg's appreciation rate, at 5.45%, has been at or slightly above the national average. In the latest quarter, Fitchburg's appreciation rate has been 3.22%, which annualizes to a rate of 13.53%.
Importantly, this makes Fitchburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Massachusetts, our data show that Fitchburg's latest annual appreciation rate is lower than 80% 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 Fitchburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fitchburg - 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 Fitchburg real estate investment or home purchase decisions.
$368,094
for Massachusetts
for nation
16,645
$2,363 / per month