Medford, Massachusetts is a medium-sized city with a population of 57,180 residents. With a population density of 7,059 people per square mile, Medford is well above the nation's average density level. At 78%, the majority of the Medford population is White; this is followed by 9% Black and 8% Asian. 77% of the people in Medford (over the age of 15) are married and 63% have kids under the age of eighteen. Knowing that, it’s safe to say that this area could be a great place for other families to lay down roots.
Living in Medford can be a great experience for anyone moving to the town. Having said that, in the state of Massachusetts, there are many desirable places to live, so choose wisely! Finding the best places to live in Medford and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes amenities, weather, education, employment, housing and other important metrics.
Medford has a livability score of 74 out of 100 and is ranked #56 in Massachusetts and #6,495 in the USA. Based on the scores for each individual category, Medford has been rewarded with high marks for amenities (A+), crime (A) and employment (B-). There is at least one category that you should be aware of in Medford. The following was graded with a discouraging score: cost of living (F).
Based on the proximity of local amenities like grocery stores, restaurants, coffee shops, parks, librairies, etc., Medford has received a higher than average score for its local amenities. If you’re planning on relocating and making this area your permanent home, it’s nice to know that there is an ample amount of amenities and things to do within walking distance or a short drive.
Feeling a sense of safety in the area that you live in is a must for most people. Low crime rates can have a positive impact on things like home prices, home appreciation rates and the overall sense of community. Medford has a violent crime rate of 153 crimes per 100,000 residents which is far lower than the national average.
Assuming that Medford meets all of your requirements, the next most important item to examine is the affordability of real estate in Medford. Everything else becomes a lot less important if it turns out that home prices in Medford are simply unattainable. The median home price for Medford homes is $421,200, which is 23.5% higher than the Massachusetts average. If we take a closer look at the affordability of homes in Medford, we’ll see that the home price to income ratio is 5.3, which is 10.4% higher than the Massachusetts average. Knowing if your home will appreciate on a long term or even a short term basis should be factored into your decision making. An increase in your home’s value can be a good way to generate tax-free equity that can create long term financial security. In the past year, appreciation rates for homes in the Medford area were 9.7% and 5 year appreciation rates were 10.1%.