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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.



Lowell, 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

Lowell, MA Housing Market Trends

With a population of 113,608, 42,343 total housing units (homes and apartments), and a median house value of $448,859, Lowell real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Lowell, accounting for 33.89% of the city's housing units. Other types of housing that are prevalent in Lowell include single-family detached homes ( 31.24%), duplexes, homes converted to apartments or other small apartment buildings ( 27.63%), and a few row houses and other attached homes ( 6.88%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Lowell primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Lowell has a mixture of owner-occupied and renter-occupied housing.

The housing in Lowell was primarily built before 1939 ( 44.95%), making the housing stock in Lowell some of the oldest overall in America, although there is a range of ages of homes in Lowell. The next most important housing age is between 1970-1999 ( 24.65%), followed by between 1940-1969 ( 22.14%). There's also some housing in Lowell built between 2000 and later ( 8.27%).

Lowell Home Appreciation Rates

Appreciation rates for homes in Lowell have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 109.29%, which ranks in the top 30% nationwide. This equates to an annual average Lowell house appreciation rate of 7.67%.

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

Relative to Massachusetts, our data show that Lowell'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 city. Individual neighborhoods within Lowell differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lowell - 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 Lowell real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$448,859

Lowell, MA Home Prices
> $1,310,000
$982,001 - $1,310,000
$655,001 - $982,000
$524,001 - $655,000
$393,001 - $524,000
$262,001 - $393,000
$131,001 - $262,000
$65,001 - $131,000
$0 - $65,000
1.5%
1.5%
1.5%
1.5%
11.6%
11.6%
20.3%
20.3%
29.5%
29.5%
25.0%
25.0%
7.9%
7.9%
0.4%
0.4%
2.4%
2.4%
0% 100.0%
% of Homes
Low

for Massachusetts

High

for nation

Number of Homes And Apartments:

42,343

Lowell Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,947 / per month

Homeownership Rate

Owners
Renters
41.6%
41.6%
58.4%
58.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.7%
3.7%
96.3%
96.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.3%
8.3%
24.6%
24.6%
22.1%
22.1%
45.0%
45.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
31.2%
31.2%
6.9%
6.9%
27.6%
27.6%
33.9%
33.9%
0.2%
0.2%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.1%
4.1%
15.5%
15.5%
35.7%
35.7%
29.3%
29.3%
11.0%
11.0%
4.3%
4.3%
0% 100.0%
% of Homes