Analyzing Key Determinants of Property Valuation in Boston Neighborhoods

The current research examines the effects of particular attributes of dwellings on property valuation in neighborhoods of Boston. Given the increased sophistication of urban property markets, particularly in historically dense cities such as Boston, this study aims to offer data-based insights into factors most influential in property valuation. Employing the Boston 2024 property assessment data set from the Boston open data portal, this research utilizes multiple linear regression and K-means cluster analysis to conduct a broad investigation. Multiple linear regression measures the relationship between physical attributesland value, number of bathrooms, and living spaceand appraisal value. In contrast, K-means clustering identifies latent property groupings involving similarities in structure and market value level. Results demonstrate that area size, number of full bathrooms, and land value are the main contributing factors in higher values, while other factors, such as number of kitchens and some ZIP codes, negatively impact property value. These findings offer actionable information to homeowners, builders, and investment, urban design, and housing policy in Boston.