The information in this video is well presented and based on current trends, continues to be accurate. I'm only familiar with the metro north cities (Lynn, Everett and Chelsea), but those cities seem to be clearly on the rise. Also despite the assumptions, Lynn has had a steadily declining crime rate since early 2000 and now has a lower crime rate than several communities on the cape.
Great video Nick! Also, according to your chart at 5:03 , two of the other biggest cities in MA (Springfield and Worcester) are in the bottom 10, with Springfield being the lowest. Not a great look for my current state.
Brockton is rough...I went to look at listing there and the RE agent was too afraid to show up. Mattapan is better because of its proximity to Dorchester but red-line splits goes to mattapan Chelsea is ok but there are some beater neighborhoods the closer you get to Amazon Fulfillment and Logan Everett has alot of industrial areas and some neighborhoods are sketchy..alot of spanish and creole is spoken in Everett Lynn is ok but its off Commuter Rail..you will probably need to goto Anderson RTC to catch CommuterRail into North Station
hey im new to real estate and wanted to ask a question. wouldn't the Average value growth be because of renovation in areas where the real estate is cheap? sorry if this is a stupid question. Any ways loved this video and it was very informational.
I’m a Brockton guy and I’ve been screaming from the rooftops for the last couple years that property is going up in our city. At this point it’s pretty overvalued for what it is, over the last year a lot of attention has turned to fall river and New Bedford, but even now they seem to be approaching the height of what they could be. I’m really curious where Boston metro investors are going to go once they reach the Massachusetts boundaries both north and south
Thanks for the question Philip! The home value data comes from Zillow in excel format, and it is visualized using a graphing software called Tableau. Here is a link to explore the Zillow data: www.zillow.com/research/data/
I live 45 mins from Boston. The suburbs are getting very expensive and the stock is just not there. It is amazing for sellers though.. We sold and are building a new home further south of where we are.
Most of those job losses are crap service sector jobs I work in construction management and make over 200k, have a small general contracting business as a side hustle that I make 100k a year from. My wife makes 100k. There are still good jobs here
@@dukenukem5766 I'm glad you are doing well. But historically job / growth losses are the number one predictor of how home prices move. Not a good look for Boston. Additionally, many people with affluence are picking up sticks and leaving the city right now.
Thanks for the kind words! For rentals I would target the same neighborhoods I mentioned in the video: Chelsea, Mattapan, Brockton. These affordable neighborhoods have shown the most resiliency over the last year. Boston's expensive ZIPs have gotten slammed in terms of rent declines and vacancy.
This video doesn't factor in stuff like safety of investment long term if the economy were to really truly crash. It also doens't factor in rental prices. It's not just the value of the property, but how much you can realistically get for rent, and you can get a lot more for rent close to the center of boston. Just some food for thought
Also while true that the more expensive areas see less growth, that doesn't necessarily mean that the actual monetary amount is significantly less. 10% growth on a 500,000 property is 50000. a 25% growth on a 200,000 is also a gain of 50000. So smaller percents of growth within the more expensive areas may actually wind up being a somewhat similar dollar amount additively. Lastly, something really important to consider is property tax -- lots of areas within Suffolk County offer a homestead exemption that allows for super low property taxes, which prevents that from cutting into your mortgage
Very informative video! What do you think about the high HOA in metro area? Does it worth it? I'm in Boston area and thinking about buying a small apt/condo, however I got really intimidated by the high HOA($500-$600).... feeling like throwing money away to the housing association(which is pretty useless and annoying)
Jingwan - that's a great point regarding the HOA fees. That will cut into your pocket quite a bit. On the flip side Boston has fairly low property taxes compared to other expensive cities.
A real estate investor should invest in places like TX. TX taxes are a lot more friendly to investors then MA taxes are. just a thought. People need to buy a house in Boston to circumvent the "Potterville" ( cities in " It's a Wonderful Life and Back to the Future 2 " movies) mindset, " Let's get all the GrandMa's money before she dies" Greedy mindset . When you rent in Boston, your rent will go up by 27% every year for a crappy apartment.
Thank you for the comment! East Boston is still very "street by street" when it comes to safety and amenities. However, I like it in terms of real estate appreciation, especially location closer to the water.
Boston's biotech sector still has lots of jobs maybe even more. The lack of housing supply convenient to these jobs makes it hard for these companies to get employees. If Boston permitted more homes by transit to these jobs the city's economy would be more dynamic.
@@autecheee Yeah traffic is going back up to "normal". That's why I suggested new homes by transit to encourage riding transit and building in paying customers to fund the MBTA (Mass. Bay Transit Authority) stably.
@@karld1791the t is a joke. No one rides it unless you have to aka you are a third world peasant or you are stretched to the max on rent and you cannot afford a car. The t is notoriously unreliable and it’s gross. No thanks. The NIMBY’s in the burbs will never allow rapid transit. The yuppies in all white towns don’t want third world hispanic peasants moving into their towns. Best way to do that, keep out the t and keep real estate prices high.
And yet a house in Abington costs more than half a million dollars..On regards of your suggestions: Brockton, Mattapan, Chelsea, Everett etc, these are absolutely the worst places someone would wish to buy a house and start a family, the only thing that grows over the years in these places is crime rate. Mass is becoming stupid expensive, is outrageous that to find a house 30 miles from Boston someone has to go in a bid war and offer 35% more than asking price ( ~ 450-500k ).
in a future video can you elaborate: both Moderna and Pfizer headquarters are in Boston. They make the covid vaccine. Yes, pfizer illegally copied Moderna's mRna "thingy", i would have thought that would have increased the jobs in Boston. Boston is strong in the medical field. What can you find out? since you live there. Thanks!
This is poor research. Please look at the crime and dataset for sex crime offenders in the area. No one in their right frame of mind would want to live in these communities with their wife and children. Maybe for single people who don’t care.
The information in this video is well presented and based on current trends, continues to be accurate. I'm only familiar with the metro north cities (Lynn, Everett and Chelsea), but those cities seem to be clearly on the rise. Also despite the assumptions, Lynn has had a steadily declining crime rate since early 2000 and now has a lower crime rate than several communities on the cape.
I love the data I sold my home last year I was leaving in Lynn Mass and I live in Herriman now I looking to reinvest in boston Thank you
Thanks Abel! Hope you made out well on your sale!
Great video Nick! Also, according to your chart at 5:03 , two of the other biggest cities in MA (Springfield and Worcester) are in the bottom 10, with Springfield being the lowest. Not a great look for my current state.
Great eye John! There seems to be a broader economic issue going on in Massachusetts given how poorly the state's three biggest cities are performing.
Can you please do this video again for Boston and Austin? Thank you
Very clear and thorough. Good presentation of the information.
D A Thank you for the feedback!
Brockton is rough...I went to look at listing there and the RE agent was too afraid to show up.
Mattapan is better because of its proximity to Dorchester but red-line splits goes to mattapan
Chelsea is ok but there are some beater neighborhoods the closer you get to Amazon Fulfillment and Logan
Everett has alot of industrial areas and some neighborhoods are sketchy..alot of spanish and creole is spoken in Everett
Lynn is ok but its off Commuter Rail..you will probably need to goto Anderson RTC to catch CommuterRail into North Station
I loved this video, very informative I added to my Boston real estate blog. Thanks
Ford Realty Inc. Thank you for the kind words! Can you provide a link to your blog?
hey im new to real estate and wanted to ask a question. wouldn't the Average value growth be because of renovation in areas where the real estate is cheap? sorry if this is a stupid question. Any ways loved this video and it was very informational.
Yes, that would definitely be a reason why lower value zip codes could see higher appreciation!
Great video! I'm planning on starting my own Real Estate career in Boston in the near future, so I found this very interesting!
Thank you Nicholas! Good luck on your Boston real estate ventures!
I’m a Brockton guy and I’ve been screaming from the rooftops for the last couple years that property is going up in our city. At this point it’s pretty overvalued for what it is, over the last year a lot of attention has turned to fall river and New Bedford, but even now they seem to be approaching the height of what they could be. I’m really curious where Boston metro investors are going to go once they reach the Massachusetts boundaries both north and south
Brockton lol. The armpit of the south shore.
I wanted to ask if this video has been updated to May's data or not or if there have been enough changes to justify an update?
It hasn't! At some point I will update all of the market deep dives in one video.
Brockton Chelsea mattapan Lynn are the roughest parts of town in the Boston area please do your research
When's the last time you've visited them...1995?
@@ReventureConsulting I'm a cop for Boston..,everyday
What program are you using to look at each counties average home value?
Thanks for the question Philip!
The home value data comes from Zillow in excel format, and it is visualized using a graphing software called Tableau.
Here is a link to explore the Zillow data: www.zillow.com/research/data/
I live 45 mins from Boston. The suburbs are getting very expensive and the stock is just not there. It is amazing for sellers though.. We sold and are building a new home further south of where we are.
The 5 places you cited for affordable homes are also high crime areas. 😬
Thank you for the comment! I think you pulled the trigger at the right time. Congrats on building your new home!
@@acp8760, I was going to say exactly the same (high crime). Where did you sell and where did you move?
Great video!! How do we get access to that website to see all the data you provided?
A city with 17% unemployment rate and average home price of a million dollars, what is there to like about it?
M Yin Very value point! High job losses and expensive real estate are not the greatest combination.
Most of those job losses are crap service sector jobs I work in construction management and make over 200k, have a small general contracting business as a side hustle that I make 100k a year from. My wife makes 100k. There are still good jobs here
@@dukenukem5766 I'm glad you are doing well. But historically job / growth losses are the number one predictor of how home prices move. Not a good look for Boston.
Additionally, many people with affluence are picking up sticks and leaving the city right now.
What about Framingham?
So helpful, thanks!
Of course! Make sure to subscribe!
Nick, great points!
Love to see Portland Maine
Great video! I'd love to see a video looking at the data in Providence, RI.
where can I find this map with all that data?
What do you think the best areas are in Boston for purchasing rental properties? Great vid, btw. Just subscribed.
Thanks for the kind words!
For rentals I would target the same neighborhoods I mentioned in the video: Chelsea, Mattapan, Brockton. These affordable neighborhoods have shown the most resiliency over the last year. Boston's expensive ZIPs have gotten slammed in terms of rent declines and vacancy.
@@ReventureConsulting Thanks, brother!
This video doesn't factor in stuff like safety of investment long term if the economy were to really truly crash. It also doens't factor in rental prices. It's not just the value of the property, but how much you can realistically get for rent, and you can get a lot more for rent close to the center of boston. Just some food for thought
Also while true that the more expensive areas see less growth, that doesn't necessarily mean that the actual monetary amount is significantly less. 10% growth on a 500,000 property is 50000. a 25% growth on a 200,000 is also a gain of 50000. So smaller percents of growth within the more expensive areas may actually wind up being a somewhat similar dollar amount additively. Lastly, something really important to consider is property tax -- lots of areas within Suffolk County offer a homestead exemption that allows for super low property taxes, which prevents that from cutting into your mortgage
Id been renting out some tripple decka lobsta cages...making a wicked return dude!
Haha! This brought me back to my Boston days. Thank you!
Very helpful.
D A Glad you enjoyed it!
What website are you using to get this data
Nice video!
Maija Erickson Thank you!
Very informative video!
What do you think about the high HOA in metro area? Does it worth it? I'm in Boston area and thinking about buying a small apt/condo, however I got really intimidated by the high HOA($500-$600).... feeling like throwing money away to the housing association(which is pretty useless and annoying)
Jingwan - that's a great point regarding the HOA fees. That will cut into your pocket quite a bit.
On the flip side Boston has fairly low property taxes compared to other expensive cities.
A real estate investor should invest in places like TX. TX taxes are a lot more friendly to investors then MA taxes are. just a thought.
People need to buy a house in Boston to circumvent the "Potterville" ( cities in " It's a Wonderful Life and Back to the Future 2 " movies) mindset, " Let's get all the GrandMa's money before she dies" Greedy mindset . When you rent in Boston, your rent will go up by 27% every year for a crappy apartment.
What are your thoughts on east Boston . Zip code 02128
Do you think that is safe neighborhood and will the property prices go up in east Boston?
Thank you for the comment!
East Boston is still very "street by street" when it comes to safety and amenities.
However, I like it in terms of real estate appreciation, especially location closer to the water.
They have tried to hype "eastie" up for so long but I don't see it going anywhere!
Boston's biotech sector still has lots of jobs maybe even more. The lack of housing supply convenient to these jobs makes it hard for these companies to get employees. If Boston permitted more homes by transit to these jobs the city's economy would be more dynamic.
Traffic would be even more congested like it is today now that covid restrictions are being lifted
@@autecheee Yeah traffic is going back up to "normal". That's why I suggested new homes by transit to encourage riding transit and building in paying customers to fund the MBTA (Mass. Bay Transit Authority) stably.
@@karld1791the t is a joke. No one rides it unless you have to aka you are a third world peasant or you are stretched to the max on rent and you cannot afford a car. The t is notoriously unreliable and it’s gross. No thanks. The NIMBY’s in the burbs will never allow rapid transit. The yuppies in all white towns don’t want third world hispanic peasants moving into their towns. Best way to do that, keep out the t and keep real estate prices high.
And yet a house in Abington costs more than half a million dollars..On regards of your suggestions: Brockton, Mattapan, Chelsea, Everett etc, these are absolutely the worst places someone would wish to buy a house and start a family, the only thing that grows over the years in these places is crime rate. Mass is becoming stupid expensive, is outrageous that to find a house 30 miles from Boston someone has to go in a bid war and offer 35% more than asking price ( ~ 450-500k ).
in a future video can you elaborate: both Moderna and Pfizer headquarters are in Boston. They make the covid vaccine. Yes, pfizer illegally copied Moderna's mRna "thingy", i would have thought that would have increased the jobs in Boston. Boston is strong in the medical field. What can you find out? since you live there. Thanks!
Mattapan is scary
I feel you. It depends on where you go. I have a friend that owns a condo in a pretty nice part of town.
Why because majority of the people are hard working blk people in there area?
Location? traffic is bad in Boston, winter makes it he** to park. So buy next to your work.
Haha funny he knows about lynn
This is poor research.
Please look at the crime and dataset for sex crime offenders in the area. No one in their right frame of mind would want to live in these communities with their wife and children. Maybe for single people who don’t care.
These areas have higher crime rates than say, Back Bay, but the crime rates have declined substantially over the last decade.