Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 7,583, 3,033 total housing units (homes and apartments), and a median house value of $371,269, Orange real estate values are some of the lowest in Massachusetts, although compared to real estate around the nation, Orange homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Orange, accounting for 61.86% of the town's housing units. Other types of housing that are prevalent in Orange include large apartment complexes or high rise apartments ( 16.55%), duplexes, homes converted to apartments or other small apartment buildings ( 14.72%), and a few mobile homes or trailers ( 6.52%).
Dwellings in Orange tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 47.35% of the homes in Orange have two or fewer bedrooms.
There is a lot of housing in Orange built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Orange built before 1939 ( 31.77%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.53%). There's also some housing in Orange built between 2000 and later ( 9.73%).
Vacant housing appears to be an issue in Orange. Fully 10.53% of the housing stock is classified as vacant. Left unchecked, vacant Orange homes and apartments can be a drag on the real estate market, holding Orange real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Orange has experienced some of the highest home appreciation rates of any community in the nation. Orange real estate appreciated 163.60% over the last ten years, which is an average annual home appreciation rate of 10.18%, putting Orange in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Orange definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Orange that despite a nationwide downturn in the housing market, Orange real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Orange appreciation rates continue to be some of the highest in America, at 19.41%, which is higher than appreciation rates in 99.67% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Orange. Orange appreciation rates in the latest quarter were at 6.07%, which equates to an annual appreciation rate of 26.59%.
Importantly, this makes Orange one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Massachusetts, our data show that Orange's latest annual appreciation rate is higher than 90% of the other cities and towns in Massachusetts.
$371,269
for Massachusetts
for nation
3,033
$1,877 / per month