The housing market in 07079 South Orange, NJ is booming. The median value of homes in the area is $794,100 which is much higher than the national median value of $338,100. This indicates that homes in this area are highly sought after and may be a sign of a strong real estate market. Over the last year appreciation rates for homes have been extremely high with a 10.07% increase compared to the US 1 year house appreciation rate of 8.27%. This makes South Orange an attractive place for potential homeowners and investors alike as they can expect their home values to continue to rise over time.
The median home cost in South Orange (zip 07079) is $794,100. Home appreciation the last 10 years has been 66.2%. Home Appreciation in South Orange (zip 07079) is up 13.9%.
Average Age of Homes
- The median age of South Orange (zip 07079) real estate is 76 years old
The Rental Market in South Orange (zip 07079)
- Renters make up 29.2% of the South Orange (zip 07079) population
- 0.8% of houses and apartments in South Orange (zip 07079), 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.