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 17,619 people, 7,030 houses or apartments, and a median cost of homes of $364,262, Southbridge real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Southbridge homes are still considered rather expensive.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Southbridge, accounting for 37.55% of the city's housing units. Other types of housing that are prevalent in Southbridge include single-family detached homes ( 37.16%), large apartment complexes or high rise apartments ( 23.04%), and a few row houses and other attached homes ( 2.13%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Southbridge primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Southbridge has a mixture of owner-occupied and renter-occupied housing.
The housing in Southbridge was primarily built before 1939 ( 34.97%), making the housing stock in Southbridge some of the oldest overall in America, although there is a range of ages of homes in Southbridge. The next most important housing age is between 1940-1969 ( 31.05%), followed by between 1970-1999 ( 26.28%). There's also some housing in Southbridge built between 2000 and later ( 7.70%).
In the last 10 years, Southbridge has experienced some of the highest home appreciation rates of any community in the nation. Southbridge real estate appreciated 117.36% over the last ten years, which is an average annual home appreciation rate of 8.07%, putting Southbridge in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Southbridge definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Southbridge appreciation rates have trailed the rest of the nation. In the last twelve months, Southbridge's appreciation rate has been 3.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Southbridge were at 3.22%, which equates to an annual appreciation rate of 13.53%.
Importantly, this makes Southbridge 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 Southbridge's latest annual appreciation rate is lower than 90% 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 Southbridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Southbridge - 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 Southbridge real estate investment or home purchase decisions.
$364,262
for Massachusetts
for nation
7,030
$2,049 / per month