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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.



Millbury, 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 Q2 2024. 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

Millbury, MA Housing Market Trends

With a population of 13,936, 5,209 total housing units (homes and apartments), and a median house value of $517,839, Millbury real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Millbury, accounting for 65.68% of the town's housing units. Other types of housing that are prevalent in Millbury include duplexes, homes converted to apartments or other small apartment buildings ( 17.86%), large apartment complexes or high rise apartments ( 9.07%), and a few row houses and other attached homes ( 7.39%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Millbury. Owner-occupied housing accounts for 73.21% of Millbury's homes, and 58.98% have either three or four bedrooms, which is average sized relative to America.

The housing in Millbury was primarily built before 1939 ( 30.19%), making the housing stock in Millbury some of the oldest overall in America, although there is a range of ages of homes in Millbury. The next most important housing age is between 1970-1999 ( 28.73%), followed by between 1940-1969 ( 26.30%). There's also some housing in Millbury built between 2000 and later ( 14.78%).

Millbury Home Appreciation Rates

Appreciation rates for homes in Millbury have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.84%, which ranks in the top 50% nationwide. This equates to an annual average Millbury house appreciation rate of 6.62%.

NeighborhoodScout's data show that during the latest twelve months, Millbury's appreciation rate, at 5.93%, has been at or slightly above the national average. In the latest quarter, Millbury's appreciation rate has been 3.22%, which annualizes to a rate of 13.53%.

Importantly, this makes Millbury 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 Millbury's latest annual appreciation rate is lower than 80% of the other cities and towns in Massachusetts.

Average Home Values

Median Home Value

$517,839

Millbury, MA Home Prices
> $1,353,000
$1,014,001 - $1,353,000
$677,001 - $1,014,000
$541,001 - $677,000
$406,001 - $541,000
$270,001 - $406,000
$135,001 - $270,000
$68,001 - $135,000
$0 - $68,000
0.4%
0.4%
1.0%
1.0%
16.6%
16.6%
25.7%
25.7%
25.1%
25.1%
21.7%
21.7%
4.9%
4.9%
1.7%
1.7%
2.9%
2.9%
0% 100.0%
% of Homes
Low

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

5,209

Millbury Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,561 / per month

Homeownership Rate

Owners
Renters
73.2%
73.2%
26.8%
26.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.1%
6.1%
93.9%
93.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.8%
14.8%
28.7%
28.7%
26.3%
26.3%
30.2%
30.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.7%
65.7%
7.4%
7.4%
17.9%
17.9%
9.1%
9.1%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.8%
0.8%
8.3%
8.3%
30.2%
30.2%
39.4%
39.4%
19.6%
19.6%
1.6%
1.6%
0% 100.0%
% of Homes