Financial Self-Sufficiency
Median Home Value

Median Home Value

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What does this measure?

The home value reported by the homeowner to the Census Bureau, adjusted for inflation. The median represents the mid-point of home values (half the values are above the median and half below).

Why is this important?

A home is usually a person's or a family's highest-valued possession. Home values are also an indicator of the region's cost of living, relative wealth, and general prosperity.

How is our county doing?

In 2013-17, the median home value for Essex County was $373,400, higher than the state ($352,600) and substantially higher than the U.S. ($193,500). From 2000 to 2013-17, median values in Essex increased 23%, which could make homeownership increasingly inaccessible to residents with low or moderate incomes. Massachusetts experienced a larger increase in median home values (31%), while values increased at a slower pace at the national level (18%).

Median home values in every municipality in Essex have increased since 2000. The smallest increases occurred in the towns of Wenham (2%), Rowley (5%) and West Newbury (6%). The Town of Essex had the largest increase (47%), followed by Lawrence, (39%), Newburyport (34%), Methuen (33%), Salisbury (32%), Lynn (31%), Nahant and Lynnfield (both at 30%). Despite the increase in Lawrence, the City still had the lowest median value in the County, at $238,200, followed by Haverhill, at $273,300, and Lynn, at $279,400. Median values were highest in the towns of Manchester-by-the-Sea ($763,600), Boxford ($627,900) and Marblehead ($611,100).

How do we compare to similar counties?

The median home value in Essex County was substantially less than both Westchester, NY ($513,300) and Middlesex, MA ($453,300), and greater than Lake, IL ($251,400). Lake was the only county to have a decrease in median value since 2000 (11%); Middlesex and Westchester had increases similar to Essex.

Notes about the data

Data are presented in 2017 dollars. Because of limitations in available data, figures for 2000 are only for single-family homes, but figures for the ACS five years include all owner-occupied housing units. Figures for the region and surrounding counties were calculated by aggregating county medians based on each county's share of the region's population. Multiyear figures are from the Census Bureau's American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census. Data for this indicator are released annually in December.

Median Home Value
Essex County, MA$304,267$378,686$373,400
North Andover$415,350$465,484$457,800
West Newbury$460,520$508,296$490,200
Middlesex County, MA$359,588$428,437$453,300
Lake County, IL$281,903$285,803$251,400
Westchester County, NY$420,500$569,364$513,300
United States$164,492$193,667$193,500

Source: U.S. Census Bureau

Bachelor's Degree or Higher by Race/Ethnicity Not Applicable
Early Prenatal Care by Mother's Race/Ethnicity Not Applicable
Preterm Births Increasing
Infant Mortality Rate Maintaining
Children with Elevated Blood Lead Levels Decreasing
Children Living in Poverty Increasing
Children Living in Poverty by Race/Ethnicity Not Applicable
Child Abuse and Neglect Increasing
Disengaged Youth Decreasing
Live Births to Teen Mothers Decreasing
Youth Arrests Decreasing
Arts, Entertainment and Recreation Establishments Maintaining
Arts, Entertainment and Recreation Employment Maintaining
Tourism Spending Increasing
Voter Participation Rate Increasing
Charitable Contributions Maintaining
Protected Land Not Applicable
Days with Good Air Quality Increasing
Beach Contamination Decreasing
Daily Water Use per Resident Decreasing
Crimes Against People Increasing
Crimes Against Property Increasing
Drug-Related Arrests Maintaining
Reports of Domestic Violence Increasing
Incarceration Rates Decreasing
Recidivism Decreasing
Households Without Vehicles Maintaining
Means of Transportation to Work Not Applicable
Traffic Injuries and Fatalities Maintaining
Households With Internet Access Increasing
Change in Total Population Increasing
Change in Population by Age/Gender Not Applicable
People 65 or Older Living Alone Decreasing
People with Disabilities Increasing
Households by Type Not Applicable
Single-Parent Families by Gender Not Applicable
Single-Parent Families by Race/Ethnicity Not Applicable
Change in Population by Race/Ethnicity Not Applicable
Foreign-Born Population Increasing
Language Diversity Increasing
Change in Total Jobs Increasing
Change in Jobs by Sector Not Applicable
Change in Average Salary Increasing
Change in Average Salary by Sector Not Applicable
Average Salary by Sector Not Applicable
Median Earnings by Occupation by Gender Not Applicable
People Entering/Leaving County for Work Not Applicable
Employer Size Not Applicable
Self-Employment Revenue Decreasing
Unemployment Rate Increasing
Unemployment Rate by Race/Ethnicity Not Applicable
Prekindergarten Participation Not Applicable
Female Enrollment in School Not Applicable
Chronically Absent Students Increasing
Per-Student Spending Increasing
Bullying Maintaining
Student Performance on Grade 3 Reading Not Applicable
Student Performance on Grade 8 Math by Student Group Not Applicable
Student Performance on Grade 10 English Language Arts Not Applicable
Student Performance on Grade 10 Math Not Applicable
High School Cohort Graduation Rate Increasing
High School Cohort Graduation Rate by Student Group Not Applicable
Education Levels of Adults Not Applicable
Income in Relation to Poverty Level Not Applicable
People Living in Poverty by Race/Ethnicity Not Applicable
Median Household Income Decreasing
Median Household Income by Race/Ethnicity Not Applicable
Median Household Income by Household Type Not Applicable
Living Wage Rate by Household Type Not Applicable
Households Receiving Temporary Assistance Maintaining
Households Receiving Federal Food Assistance Increasing
Participation in Food Assistance by Race/Ethnicity Not Applicable
Earned Income Tax Credit Participation Maintaining
Economically Disadvantaged Students Increasing
Median Home Value Increasing
Housing Affordability for Homeowners Increasing
Housing Affordability for Renters Increasing
Homeownership Rates Maintaining
Homeownership Rates by Race/Ethnicity Not Applicable
Homeless Persons Increasing
People Without Health Insurance Decreasing
Medical Care Expenses Increasing
Prevalence of Children with Asthma Maintaining
Prevalence of Overweight Children Decreasing
Prevalence of Overweight Adults Not Applicable
Diabetes Incidence Decreasing
Chronic Disease Among Older Adults Increasing
Cancer Incidence Decreasing
Cancer Mortality Rate Decreasing
Heart Disease Mortality Rate Decreasing
Mortality Rate Decreasing
People who Smoke Not Applicable
Use of Illegal Drugs Not Applicable
Youth Use of Illegal Drugs Not Applicable
Substance Abuse Treatment Admissions Not Applicable
Drug Overdose Mortality Rate Increasing
Prevalence of Mental Illness Maintaining
Suicide Rate Maintaining