The housing market in Old Tappan, NJ is extremely competitive and attractive to those looking for a luxurious lifestyle. The median value of a home in Old Tappan is significantly higher than the national median value at $929,600, indicating that this area is an affluent neighborhood. This high median value is also accompanied by higher appreciation rates over the past year, sitting at 10.32%, which is more than 2% higher than the national average of 8.27%. These figures show that investing in Old Tappan real estate can be a wise decision and that property values are likely to continue to appreciate in this desirable location.
The median home cost in Old Tappan is $929,600. Home appreciation the last 10 years has been 52.1%. Home Appreciation in Old Tappan is up 9.0%.
Average Age of Homes
- The median age of Old Tappan real estate is 40 years old
The Rental Market in Old Tappan
- Renters make up 6.6% of the Old Tappan population
- 0.0% of houses and apartments in Old Tappan, 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.