Housing Insights for ZIP Code 02492 (Needham, MA)

Housing Summary for ZIP Code 02492

Homeowners

The median home value in ZIP Code 02492 (Needham, MA) is $873,900. Approximately 89.8% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 1.5%.

The average occupancy of owner-occupied units in ZIP Code 02492 is 2.91 occupants, while owner-occupied units have an aggregate average size of 3.6 bedrooms per housing unit.

Renters

In the 02492 ZIP Code, an estimated 10.2% 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 1.54 occupants, while renters in this Norfolk County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 02492

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 02492.

ZIP 02492 Massachusetts U.S.
Median Home Value $873,900 $656,427 $364,385
Owner-Occupied Housing Units 89.8% 62.4% 64.0%
Homeowner Vacancy Rate 1.5% 1.0% 1.6%
Average Size of Owner-Occupied Unit 2.91 2.69 2.70
Average # of Bedrooms Per Unit 3.6 2.66 2.75
Median Housing Rent $0 $1,282 $1,062
Renter-Occupied Housing Units 10.2% 37.6% 36.0%
Rental Vacancy Rate 0.0% 3.6% 6.0%
Average Size of Renter-Occupied Unit 1.54 2.25 2.49
Percent of Income Spent on Rent 0% 29.76% 29.83%

Home Values in ZIP Code 02492 (Needham, MA)

The median home value in ZIP Code 02492 is $873,900. That median value is about 129% higher than the median home value of $381,600 in Massachusetts overall, and is 302% higher than the $217,500 the median home value in the entire U.S. About 61.4% of homes in ZIP Code 02492 are valued $500,000 to $999,999. That is 142% higher than in Massachusetts, in which 25.4% of homes are valued at $500,000 to $999,999, and is about 439% higher than in the U.S. overall (11.4% of homes valued at $500,000 to $999,999). The home value range that the smallest portion of ZIP Code 02492 homes fall into is $150,000 to $199,999 (0.0% of homes).

Home Values in ZIP Code 02492

This chart visualizes the breakdown of home values in ZIP Code 02492, Massachusetts, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 02492 vs. home values in both the state of Massachusetts and in the U.S. overall.

Home Values in ZIP Code 02492

See the table below for a regional comparison of home values in ZIP Code 02492.

Home Value ZIP 02492 Massachusetts U.S.
Less than $50,000 0.3% 1.5% 6.9%
$50,000 to $99,999 0.2% 1.4% 12.0%
$100,000 to $149,999 0.1% 3.4% 13.3%
$150,000 to $199,999 0.0% 7.2% 14.0%
$200,000 to $299,999 2.2% 19.5% 19.6%
$300,000 to $499,999 3.2% 35.9% 19.3%
$500,000 to $999,999 61.4% 25.4% 11.4%
$1,000,000 or more 32.6% 5.8% 3.4%

Home Ages in ZIP Code 02492 (Needham, MA)

Approximately 24.0% of homes in this Needham, MA region were built in 1939 or earlier. This amount of homes built in 1939 or earlier in ZIP Code 02492 is about 26% lower than percentage of homes built in this time period in Massachusetts overall (32.5% of homes), and is 90% higher the percentage (12.6% of homes) in the U.S. as a whole. Additionally, an esimated 21.1% of local homes were built in 1950 to 1959. On the other end of the scale, just 2.0% of homes in this Norfolk County ZIP Code were built in 2010 to 2013 in ZIP Code 02492. In comparison, 1.7% of homes in Massachusetts overall were built in 2010 to 2013, while 2.7% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 02492

A detailed regional comparison of home ages in ZIP Code 02492.

Year Built ZIP 02492 Massachusetts U.S.
2014 or later 2.7% 1.6% 2.5%
2010 to 2013 2.0% 1.7% 2.7%
2000 to 2009 6.4% 7.1% 14.0%
1990 to 1999 5.6% 7.7% 13.9%
1980 to 1989 8.9% 10.8% 13.4%
1970 to 1979 5.0% 11.6% 15.2%
1960 to 1969 12.5% 10.2% 10.6%
1950 to 1959 21.1% 11.3% 10.3%
1940 to 1949 11.8% 5.5% 4.9%
1939 or earlier 24.0% 32.5% 12.6%

Age of Homes in ZIP Code 02492

See the chart below for details on the age of homes in ZIP Code 02492, 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 02492

Frequently asked questions about housing in this Needham, MA ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 02492.

1

What is the average home value ZIP Code 02492?

The median home value in ZIP Code 02492 (Needham, MA) is $873,900.
2

Are homes expensive in ZIP Code 02492?

The median home value in 02492 ($873,900) is an estimated 129% higher than the aggregate median value of $381,600 in Massachusetts, and is 302% 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 02492?

The vacacy rate for owner-occupied housing in ZIP Code 02492 is 1.5%. This rate is 50% higher than the overall Massachusetts owner-occupied vacancy rate of 1.0%. Additionally, the 02492 vacancy rate is 6% lower than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 02492 have older homes or newer construction?

In ZIP Code 02492, about 24.0% of homes were built in 1939 or earlier. That time range includes the most home construction. Also, 21.1% of homes in the region were built in 1950 to 1959. In contrast, 2.0% of homes in 02492 were built in 2010 to 2013.
5

What is the housing breakdown in ZIP Code 02492? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 02492 than renter-occupied housing. Owner-occupied units make up 89.8% of housing, compared to 10.2% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 02492?

The vacacy rate for rental units in ZIP Code 02492 is 0.0%. This rate is 100% lower than the overall Massachusetts vacancy rate of 3.6%. Additionally, the 02492 vacancy rate is 100% lower than the entire U.S. vacancy rate of 6.0%.