North Andover, MA—01845
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Andover, MA
As of Oct '25, the median home price in North Andover, MA is $796,000, with a year-over-year change of 1.7%. This indicates that home prices in North Andover, MA are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $796,000 | 1.7% |
| Single Family | $909,000 | 2.2% |
| Condos | $409,000 | 1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $303,000 | 0.0% |
2 Bed | $431,000 | 1.4% |
3 Bed | $709,000 | 1.1% |
4 Bed | $1,036,000 | 2.5% |
| 5 Bed | $1,213,000 | 3.4% |
% of Housing Stock
Rental Trends — North Andover, MA
As of July '25, Rentcast reports the average rent in North Andover, MA is $3,040, with a year-over-year rent change of -9.0%. Per bedroom, the median rent as of July '25 in North Andover, MA is studios: $2,180, 1-bedrooms: $3,330, 2-bedrooms: $2,560, 3-bedrooms: $3,420. The most common rental property sizes in North Andover, MA are 2-bedroom and 1-bedroom, accounting for 51.3% and 26.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $3,040 |
| Studio Rent | $2,180 | $2,180 |
| 1 Bed Rent | $2,500 | $3,330 |
| 2 Bed Rent | $2,450 | $2,560 |
| 3 Bed Rent | $3,300 | $3,420 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — North Andover, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in North Andover, MA is 18. This is a increase of 105.0% 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 | $702,000 | -10.0% |
Listing Count | 55 | 64.0% |
| Listings as % of Homes | 0.2% | 64.0% |
Days on Market | 18 | 105.0% |
Demographics — North Andover, MA
As of the latest ACS Survey released in 2023, North Andover, MA has a population of 31,900, which has increased by 4.2% over the past 5 years. North Andover, MA is a moderately popular place for families, as children make up 21.5% of the population. The area has a highly educated workforce, with 60.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,900 | 4.2% |
% Under 18 | 21.5% | -8.1% |
% Seniors | 15.5% | 3.3% |
% WFH | 18.3% | 144.0% |
% w/ College Degree | 60.7% | -1.1% |
As of the latest ACS Survey released in 2023, North Andover, MA is a predominantly white area, with 79.2% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in North Andover, MA is hispanic, making up 8.1% of the population. Foreign-born residents account for 12.1% of the population in North Andover, MA, and this percentage has increased by 0.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 79.2% | -3.6% |
% Black | 3.2% | 18.5% |
% Hispanic | 8.1% | 28.6% |
% Asian | 6.4% | -3.0% |
% Foreign Born | 12.1% | 0.8% |
Mortgage and Risk — North Andover, MA
According to HUD data as of 2023, there were 503 mortgage originations in North Andover, MA, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in North Andover, MA. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 503 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — North Andover, MA
North Andover, MA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 433 |
Total Units Section 8 | 328 |
% Rentals under Section 8 | 9.0% |
% Occupied Section 8 | 94.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$360 | $2,500 | $2,140 |
| 2 Bedroom | $220 | $2,450 | $2,670 |
| 3 Bedroom | -$80 | $3,300 | $3,220 |
| 4 Bedroom | N/A | N/A | $3,540 |
Affordability — North Andover, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $796,000 |
| Median Household Income | $134,000 |