Andover, MA—01810
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Andover, MA
As of Oct '25, the median home price in Andover, MA is $969,000, with a year-over-year change of 2.4%. This indicates that home prices in Andover, MA are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $969,000 | 2.4% |
| Single Family | $1,036,000 | 2.8% |
| Condos | $442,000 | 1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $317,000 | 1.0% |
2 Bed | $516,000 | 1.8% |
3 Bed | $856,000 | 2.6% |
4 Bed | $1,135,000 | 3.3% |
| 5 Bed | $1,455,000 | 4.5% |
% of Housing Stock
Rental Trends — Andover, MA
As of July '25, Rentcast reports the average rent in Andover, MA is $2,870, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Andover, MA is studios: $1,670, 1-bedrooms: $2,320, 2-bedrooms: $3,030, 3-bedrooms: $4,120, 4-bedrooms: $4,750. The most common rental property sizes in Andover, MA are 1-bedroom and 2-bedroom, accounting for 37.0% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,870 |
| Studio Rent | $1,750 | $1,670 |
| 1 Bed Rent | $2,310 | $2,320 |
| 2 Bed Rent | $2,900 | $3,030 |
| 3 Bed Rent | $3,800 | $4,120 |
| 4 Bed Rent | $4,000 | $4,750 |
% of Rental Stock
Property Listings — Andover, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Andover, MA is 35. This is a increase of 24.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $999,000 | 7.0% |
Listing Count | 61 | -11.0% |
| Listings as % of Homes | 0.1% | -11.0% |
Days on Market | 35 | 24.0% |
Demographics — Andover, MA
As of the latest ACS Survey released in 2023, Andover, MA has a population of 35,600, which has remained stable by -0.0% over the past 5 years. Andover, MA is a moderately popular place for families, as children make up 24.5% of the population. The area has a highly educated workforce, with 75.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,600 | 0.0% |
% Under 18 | 24.5% | -2.0% |
% Seniors | 16.3% | 11.6% |
% WFH | 27.6% | 210.1% |
% w/ College Degree | 75.2% | 1.8% |
As of the latest ACS Survey released in 2023, Andover, MA is a predominantly white area, with 69.8% of the population identifying as white. The white population has shrunk by 9.6% in the last 5 years. The second most common race or ethnicity in Andover, MA is asian, making up 16.1% of the population. Foreign-born residents account for 16.7% of the population in Andover, MA, and this percentage has decreased by 2.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.8% | -9.6% |
% Black | 2.3% | -17.9% |
% Hispanic | 8.1% | 84.1% |
% Asian | 16.1% | 15.0% |
% Foreign Born | 16.7% | -2.3% |
Mortgage and Risk — Andover, MA
According to HUD data as of 2023, there were 601 mortgage originations in Andover, MA, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Andover, MA. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 601 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Andover, MA
As of 2024, the percent of homes in Andover, MA under the Section 8 program is 10.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Andover, MA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 285 |
Total Units Section 8 | 273 |
% Rentals under Section 8 | 10.5% |
% Occupied Section 8 | 92.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$340 | $2,310 | $1,970 |
| 2 Bedroom | -$320 | $2,900 | $2,580 |
| 3 Bedroom | -$690 | $3,800 | $3,110 |
| 4 Bedroom | -$580 | $4,000 | $3,420 |
Affordability — Andover, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $969,000 |
| Median Household Income | $168,000 |