Real Estate Trends in Quincy, MA
Maybe you’re a recent college graduate who just landed a job in Boston and is looking for an affordable, single-bedroom apartment. Or maybe you have a family and you’d love to be able to buy your first home within a stone’s throw of the ocean. Or maybe you’re just looking for a medium-sized city with metropolitan amenities. In any of these cases, you may be interested in Quincy apartments or Quincy homes for sale. Read on to learn more about the city’s housing and demographic trends.
Quincy’s population was 93,027 as of the 2012 census. The average age of residents is just slightly younger than the Massachusetts state average, and Quincy often appeals to young, single professionals in their 20s and 30s. This may in part be due to the city’s proximity to Boston and Red Line rail stations, as well as average housing prices that are considerably lower than prices in Boston proper.
Quincy is also an ethnically diverse place. 65.5% of residents identify as Caucasian, 24% are Asian, over 4% are African-American, and over 3% are Hispanic. English is the most commonly spoken language, but there are also a significant number of residents who report speaking Chinese, Vietnamese, or Spanish at home.
According to City-Data, the median household income for Quincy residents in 2012 was $58,051. Over 85% of the Quincy workforce have a white-collar job, and many workers use public transportation to commute to Boston or other nearby areas.
Quincy Real Estate Trends
City-Data lists Quincy’s median gross rent for 2012 as $1,170, while the median Quincy house or condo value was $341,900. The city is made up of a mix of renters and homeowners. It’s possible to find Quincy, MA apartments in just about every neighborhood, but apartments are particularly densely clustered in Quincy Center, Wollaston, and North Quincy. Meanwhile, some of the lowest rental prices can be found in Adam’s Shore and Houghs Neck, while some of the highest can be found in the North Quincy area known as Marina Bay.
Similarly, you can find Quincy condos for sale all over the city, but many are concentrated in Quincy Center or Marina Bay. You can also find some relatively recent developments in West Quincy, where old granite quarries have been filled in to make way for new condos and other properties.
If you’re looking for Quincy, MA homes for sale, there’s a good chance you’ll be looking at beautiful, historic single-family homes that were built before World War II (although there are also quite a few homes that were built in the late 20th century). There are quite a few small to medium-sized single-family homes, many of them located in neighborhoods such as Squantum, Merrymount, Montclair, and West Quincy.
Still wondering how these demographic and real estate trends will affect your housing hunt, or wondering which neighborhood best suits your lifestyle and income level? Talk to Quincy realtors to find the best fit for you.