Medford

Population: 58,696
Median Home Sale: $417,000
Median Household Income: $73,980
Median Commute: 27.00
Historic Medford Square
The city of Medford is an historic suburban city located on the Mystic River with several small streams that provided waterpower for early industries. Originally the site of estates owned by Governors Craddock and Winthrop, Medford became a town in 1695 and a city in 1892. The city’s colonial Read More +
The city of Medford is an historic suburban city located on the Mystic River with several small streams that provided waterpower for early industries. Originally the site of estates owned by Governors Craddock and Winthrop, Medford became a town in 1695 and a city in 1892. The city’s colonial prosperity was based on being a tidewater seaport with shipbuilding and distilling, and Medford was part of the triangle trade. There was a significant slave population. Shipbuilding was begun by Thatcher Magoun, using lumber harvested from the Fells and later from New Hampshire, which came down on the Middlesex Canal. At its peak in 1855, Magoun’s shipyard employed 1,000 men. Immigrant populations, mostly Irish, were also employed in the brick yards and in quarrying Medford granite. After the decline of the shipbuilding industry, printed cloth, carpets, linseed oil, hats and rum became the major products of the city, as did education when Tufts University was founded in 1852. Fueled by its industrial prosperity, Medford grew quickly; between 1870 and 1910 the city doubled in population every 20 years. Residents manufactured shoe-making machines, chemicals, covered buttons and brass soda fountains. The city retains a rich architectural heritage which includes the nationally important Isaac Royall estate as well as Federal, Greek revival and Victorian buildings. The earliest homes remaining in the community are the Peter Tufts House of 1678 and the Jonathan Wade House of 1689, but at least one outstanding example of each architectural period remains. There are now many suburban neighborhoods in Medford resulting from the rapid and dense development which followed the first world war.

Medford MA 2015 Real Estate Statistics:

The average median single family home price in Medford MA Year-to-Date (Jan-Aug) was $585,00, a 16.77% increase from the previous year. The average median price for a condominium in Medford MA YTD was $455,000, a 7.06% increase from the previous year. YTD, there have been 458 home sales, a 3.98% decrease from the previous year. Home sales in Medford continue to stay strong. Also, contributing to the excitement is the future Green Line Expansion into Medford’s Hill Side and Tufts neighborhoods.

(Source: Town Stats by The Warren Group, a Bankers & Tradesmen Publication) Read less –