Housing in Bloomfield, NJ is a very desirable commodity. The median value for a house in Bloomfield is currently $479,300, which is substantially higher than the US House Median Value of $338,100. In the past year, the US House Appreciation was 8.27%, but Bloomfield saw an even greater appreciation with a rate of 10.07%. This shows that there is solid potential and growth for investing in property located in Bloomfield. It also indicates that residents of this community are likely to see their home values increase over time.
The median home cost in Bloomfield is $479,300. Home appreciation the last 10 years has been 66.2%. Home Appreciation in Bloomfield is up 13.9%.
Average Age of Homes
- The median age of Bloomfield real estate is 74 years old
The Rental Market in Bloomfield
- Renters make up 41.4% of the Bloomfield population
- 0.4% of houses and apartments in Bloomfield, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.