Top 10 neighborhoods with the most appreciation since 2000
We are constantly being asked questions like, "What's the hottest neighborhood in Massachusetts?" or, "How much has my neighborhood appreciated?"
We took the guesswork out of these questions and did the research for you, scouring our sources for the best data to establish the top 10 neighborhoods with the most appreciation since 2000
According to NeighborhoodScout.com, the highest appreciating areas in Massachusetts since 2000 are as follows:
Multiple transit options, great spots for dining, and Assembly Row for shopping, Somerville has hopped off the charts as Massachusetts' number one rising value since 2000.
The Silver Line extension project has brought new restaurants to the downtown area, and renovated lofts and other new construction has made Chelsea one of the most sought-after areas around Boston.
This one's a no brainer: with the amount of new construction in the Boston area, especially recent developments in East Boston, Dorchester and Jamaica Plain, it's not a surprise Boston checks in at number 3 on the list.
Vacation anyone? Many families have purchased second homes or have made the Islands their primary residence, while escaping to warmer climates in the winter months.
Arlington balances easy access to downtown Boston and Cambridge with both a vibrant town center, an involved community, and good-sized homes with some land. People looking for their first (or second or third!) place when leaving the city have flocked to Arlington, creating a huge increase in home values over the years.
The Encore Casino brought rising home prices nearby, as well as improved rental and purchase options for people looking for the balance of being close to downtown Boston, a great downtown feel, while still being able to get a home with some yard space.
Another island escape, the improved homes and new construction on Nantucket has led to a drastic increase in value in the last 20+ years.
Medford offers a couple of great downtown square options as well as easy access to downtown Boston plus areas north. With some great restaurant options, as well as a diverse range of housing options, Medford provides great options for buyers all across the board in terms of the type of property they're looking for.
Look back 10 years and you will find that Lawrence has grown over 75% in real estate values, making it amongst the highest in the nation. Much of this is due to "new growth" or the construction of new condos, commercial spaces, and other property.
It started with high Boston rents pushing people to transit-oriented neighborhoods, and it has morphed into a revitalization of Malden Center, new restaurants, and rising prices. Investors who "flip" homes looked at Malden as a great opportunity as well, which has pushed values higher in the past two decades.