Housing Insights for ZIP Code 02347 (Lakeville, MA)

Housing Summary for ZIP Code 02347

Homeowners

The median home value in ZIP Code 02347 (Lakeville, MA) is $371,000. Approximately 84.8% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 1.4%.

The average occupancy of owner-occupied units in ZIP Code 02347 is 2.88 occupants, while owner-occupied units have an aggregate average size of 2.93 bedrooms per housing unit.

Renters

In the 02347 ZIP Code, an estimated 15.2% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 0.0%.

Among renter-occupied units in this ZIP, the average occupancy is 2.11 occupants, while renters in this Plymouth County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 02347

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 02347.

ZIP 02347 Massachusetts U.S.
Median Home Value $371,000 $656,427 $364,385
Owner-Occupied Housing Units 84.8% 62.4% 64.0%
Homeowner Vacancy Rate 1.4% 1.0% 1.6%
Average Size of Owner-Occupied Unit 2.88 2.69 2.70
Average # of Bedrooms Per Unit 2.93 2.66 2.75
Median Housing Rent $0 $1,282 $1,062
Renter-Occupied Housing Units 15.2% 37.6% 36.0%
Rental Vacancy Rate 0.0% 3.6% 6.0%
Average Size of Renter-Occupied Unit 2.11 2.25 2.49
Percent of Income Spent on Rent 0% 29.76% 29.83%

Home Values in ZIP Code 02347 (Lakeville, MA)

The median home value in ZIP Code 02347 is $371,000. That median value is about 3% lower than the median home value of $381,600 in Massachusetts overall, and is 71% higher than the $217,500 the median home value in the entire U.S. An estimated 53.7% of homes in ZIP Code 02347 are valued $300,000 to $499,999. That is 50% higher than in the stat of Massachusetts, in which 35.9% of homes are valued at $300,000 to $499,999, and is about 178% higher than in the U.S. overall (19.3% of homes valued at $300,000 to $499,999). The home value range that the smallest portion of ZIP Code 02347 homes fall into is $1,000,000 or more (0.1% of homes).

Home Values in ZIP Code 02347

This chart visualizes the breakdown of home values in ZIP Code 02347, Massachusetts, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 02347 vs. home values in both the state of Massachusetts and in the U.S. overall.

Home Values in ZIP Code 02347

See the table below for a regional comparison of home values in ZIP Code 02347.

Home Value ZIP 02347 Massachusetts U.S.
Less than $50,000 2.1% 1.5% 6.9%
$50,000 to $99,999 1.4% 1.4% 12.0%
$100,000 to $149,999 1.2% 3.4% 13.3%
$150,000 to $199,999 4.8% 7.2% 14.0%
$200,000 to $299,999 18.1% 19.5% 19.6%
$300,000 to $499,999 53.7% 35.9% 19.3%
$500,000 to $999,999 18.5% 25.4% 11.4%
$1,000,000 or more 0.1% 5.8% 3.4%

Home Ages in ZIP Code 02347 (Lakeville, MA)

Approximately 17.0% of homes in this Lakeville, MA region were built in 1980 to 1989. This amount of homes built in 1980 to 1989 in ZIP Code 02347 is about 57% higher than percentage of homes built in this time period in Massachusetts overall (10.8% of homes), and is 27% higher the percentage (13.4% of homes) in the U.S. as a whole. Additionally, an esimated 13.5% of local homes were built in 1950 to 1959. On the other end of the scale, just 1.0% of homes in this Plymouth County ZIP Code were built in 2014 or later in ZIP Code 02347. In comparison, 1.6% of homes in Massachusetts overall were built in 2014 or later, while 2.5% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 02347

A detailed regional comparison of home ages in ZIP Code 02347.

Year Built ZIP 02347 Massachusetts U.S.
2014 or later 1.0% 1.6% 2.5%
2010 to 2013 7.5% 1.7% 2.7%
2000 to 2009 13.4% 7.1% 14.0%
1990 to 1999 12.3% 7.7% 13.9%
1980 to 1989 17.0% 10.8% 13.4%
1970 to 1979 13.2% 11.6% 15.2%
1960 to 1969 4.6% 10.2% 10.6%
1950 to 1959 13.5% 11.3% 10.3%
1940 to 1949 8.5% 5.5% 4.9%
1939 or earlier 9.1% 32.5% 12.6%

Age of Homes in ZIP Code 02347

See the chart below for details on the age of homes in ZIP Code 02347, Massachusetts, and also in the U.S. overall. Data here refers to years that homes were built.

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Housing FAQs for ZIP Code 02347

Frequently asked questions about housing in this Lakeville, MA ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 02347.

1

What is the average home value ZIP Code 02347?

The median home value in ZIP Code 02347 (Lakeville, MA) is $371,000.
2

Are homes expensive in ZIP Code 02347?

The median home value in 02347 ($371,000) is an estimated 3% lower than the aggregate median value of $381,600 in Massachusetts, and is 71% higher than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 02347?

The vacacy rate for owner-occupied housing in ZIP Code 02347 is 1.4%. This rate is 40% higher than the overall Massachusetts owner-occupied vacancy rate of 1.0%. Additionally, the 02347 vacancy rate is 13% lower than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 02347 have older homes or newer construction?

In ZIP Code 02347, about 17.0% of homes were built in 1980 to 1989. That time range includes the most home construction. Also, 13.5% of homes in the region were built in 1950 to 1959. In contrast, 1.0% of homes in 02347 were built in 2014 or later.
5

What is the housing breakdown in ZIP Code 02347? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 02347 than renter-occupied housing. Owner-occupied units make up 84.8% of housing, compared to 15.2% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 02347?

The vacacy rate for rental units in ZIP Code 02347 is 0.0%. This rate is 100% lower than the overall Massachusetts vacancy rate of 3.6%. Additionally, the 02347 vacancy rate is 100% lower than the entire U.S. vacancy rate of 6.0%.