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 6,422 people, 3,004 houses or apartments, and a median cost of homes of $899,313, real estate costs in Orleans are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.
Single-family detached homes are the single most common housing type in Orleans, accounting for 83.95% of the town's housing units. Other types of housing that are prevalent in Orleans include large apartment complexes or high rise apartments ( 8.70%), duplexes, homes converted to apartments or other small apartment buildings ( 4.86%), and a few row houses and other attached homes ( 2.49%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Orleans. Owner-occupied housing accounts for 77.40% of Orleans's homes, and 57.37% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Orleans 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 Orleans built between 1940-1969 ( 26.60%). A lesser amount of the housing stock also hails from before 1939 ( 14.38%). There's also some housing in Orleans built between 2000 and later ( 10.73%).
A decent proportion of the Orleans housing stock is seasonally occupied. That is, homes and condos in Orleans are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Orleans housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Orleans have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.08%, which ranks in the top 50% nationwide. This equates to an annual average Orleans house appreciation rate of 6.69%.
Appreciation rates are so strong in Orleans that despite a nationwide downturn in the housing market, Orleans real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Orleans appreciation rates continue to be some of the highest in America, at 10.19%, which is higher than appreciation rates in 88.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Orleans. Orleans appreciation rates in the latest quarter were at 1.98%, which equates to an annual appreciation rate of 8.15%.
Relative to Massachusetts, our data show that Orleans's latest annual appreciation rate is higher than 80% of the other cities and towns in Massachusetts.
$899,313
for Massachusetts
for nation
3,004
$2,601 / per month