Housing in New Jersey State is extremely valuable, with the median value being $432,100. This is significantly higher than the US House Median Value of $338,100. The appreciation rate for housing in New Jersey State is 8.07%, which is slightly lower than the US 1 year House Appreciation rate of 8.27%. Despite this slight difference, it is clear that housing in New Jersey State is still a very attractive option for potential buyers due to its high value and appreciation rate.
The median home cost in New Jersey is $432,100. Home appreciation the last 10 years has been 65.1%. Home Appreciation in New Jersey is up 16.0%.
Average Age of Homes
- The median age of New Jersey real estate is 50 years old
The Rental Market in New Jersey
- Renters make up 31.2% of the New Jersey population
- 1.4% of houses and apartments in New Jersey, 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.