GLOUCESTER HOUSING MARKET INFORMATION With a population of 29,959, 13,180 total housing units (homes and apartments), and a median house value of $770,194, real estate costs in Gloucester 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. Single-family detached homes are the single most common housing type in Gloucester, accounting for 51.05% of the city's housing units. Other types of housing that are prevalent in Gloucester include duplexes, homes converted to apartments or other small apartment buildings ( 32.01%), large apartment complexes or high rise apartments ( 12.26%), and a few row houses and other attached homes ( 4.55%). People in Gloucester primarily live in small (one, two or no bedroom) single-family detached homes. Gloucester has a mixture of owner-occupied and renter-occupied housing. The housing in Gloucester was primarily built before 1939 ( 48.49%), making the housing stock in Gloucester some of the oldest overall in America, although there is a range of ages of homes in Gloucester. The next most important housing age is between 1970-1999 ( 23.60%), followed by between 1940-1969 ( 16.89%). There's also some housing in Gloucester built between 2000 and later ( 11.02%). GLOUCESTER HOME APPRECIATION RATES Appreciation rates for homes in Gloucester have been tracking above average for the last ten years, according to 蘑菇视频 data. The cumulative appreciation rate over the ten years has been 93.34%, which ranks in the top 50% nationwide. This equates to an annual average Gloucester house appreciation rate of 6.81%. 蘑菇视频's data show that during the latest twelve months, Gloucester's appreciation rate, at 8.61%, has been at or slightly above the national average. In the latest quarter, Gloucester's appreciation rate has been 1.15%, which annualizes to a rate of 4.67%. Relative to Massachusetts, our data show that Gloucester's latest annual appreciation rate is lower than 50% 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 Gloucester differ in their investment potential, sometimes by a great deal. Fortunately, you can use 蘑菇视频 to pinpoint the exact neighborhoods in Gloucester - 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 Gloucester real estate investment or home purchase decisions.