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 5,927 people, 1,806 houses or apartments, and a median cost of homes of $344,193, Northfield real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Northfield, accounting for 67.57% of the town's housing units. Other types of housing that are prevalent in Northfield include duplexes, homes converted to apartments or other small apartment buildings ( 13.70%), mobile homes or trailers ( 8.92%), and a few large apartment complexes or high rise apartments ( 8.33%).
The most prevalent building size and type in Northfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.76% owning and 44.24% renting.
The housing in Northfield was primarily built before 1939 ( 43.67%), making the housing stock in Northfield some of the oldest overall in America, although there is a range of ages of homes in Northfield. The next most important housing age is between 1970-1999 ( 26.91%), followed by between 1940-1969 ( 21.24%). There's also some housing in Northfield built between 2000 and later ( 8.18%).
Vacant housing appears to be an issue in Northfield. Fully 10.99% of the housing stock is classified as vacant. Left unchecked, vacant Northfield homes and apartments can be a drag on the real estate market, holding Northfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Northfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.89%, which ranks in the top 50% nationwide. This equates to an annual average Northfield house appreciation rate of 6.79%.
NeighborhoodScout's data show that during the latest twelve months, Northfield's appreciation rate, at 6.15%, has been at or slightly above the national average. In the latest quarter, Northfield's appreciation rate has been 4.63%, which annualizes to a rate of 19.86%.
Importantly, this makes Northfield 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 Vermont, our data show that Northfield's latest annual appreciation rate is lower than 70% of the other cities and towns in Vermont.
$344,193
for Vermont
for nation
1,806
$1,404 / per month