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 13,393 people, 4,539 houses or apartments, and a median cost of homes of $753,232, real estate costs in Medway 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.
Medway is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Medway than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Medway. Owner-occupied housing accounts for 85.84% of Medway's homes, and 78.99% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Medway 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 Medway built between 1940-1969 ( 24.45%). A lesser amount of the housing stock also hails from before 1939 ( 19.92%). There's also some housing in Medway built between 2000 and later ( 8.79%).
Real estate appreciation rates in Medway's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.16% during the period.
Appreciation rates are so strong in Medway that despite a nationwide downturn in the housing market, Medway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Medway appreciation rates continue to be some of the highest in America, at 8.56%, which is higher than appreciation rates in 76.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Medway. Medway appreciation rates in the latest quarter were at 2.38%, which equates to an annual appreciation rate of 9.87%.
Relative to Massachusetts, our data show that Medway's latest annual appreciation rate is higher than 60% of the other cities and towns in Massachusetts.
$753,232
for Massachusetts
for nation
4,539
$3,108 / per month