Atlantic City NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Atlantic City, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Atlantic City Housing Market Information

With 37,804 people, 15,404 houses or apartments, and a median cost of homes of $161,277, Atlantic City real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Atlantic City homes are still considered rather expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Atlantic City, accounting for 50.06% of the city's housing units. Other types of housing that are prevalent in Atlantic City include duplexes, homes converted to apartments or other small apartment buildings ( 18.96%), single-family detached homes ( 16.91%), and a few row houses and other attached homes ( 14.00%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Atlantic City is dominated by renter-occupied one, two, or no bedrooms apartments. 74.19% of Atlantic City's dwellings are rentals.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Atlantic City's housing was primarily built during this period, from the '40s through the '60s. A full 33.30% of the city's housing hails from this era. Other housing ages represented in Atlantic City include homes built before 1939 ( 30.85%) and housing constructed between 1970-1999 ( 29.06%). There's also some housing in Atlantic City built between 2000 and later ( 6.79%).

Vacant housing appears to be an issue in Atlantic City. Fully 23.27% of the housing stock is classified as vacant. Left unchecked, vacant Atlantic City homes and apartments can be a drag on the real estate market, holding Atlantic City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Atlantic City Home Appreciation Rates

Homes have actually lost value in Atlantic City over the last then years, as home values have seen a decline of 36.96% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Atlantic City home appreciation rates at 0.28%, which equates to an annual appreciation rate of 1.12%.

Over the last year, Atlantic City appreciation rates have trailed the rest of the nation. In the last twelve months, Atlantic City's appreciation rate has been 1.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Atlantic City were at 0.28%, which equates to an annual appreciation rate of 1.12%.

Notably, Atlantic City's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New Jersey, our data show that Atlantic City's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Atlantic City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Atlantic City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Atlantic City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$161,277

Atlantic City, NJ HOME PRICES

Value Range
> $934,000 1.8
$700,001 - $934,000 0.7
$467,001 - $700,000 2.2
$374,001 - $467,000 0.5
$280,001 - $374,000 13.9
$187,001 - $280,000 20.7
$93,001 - $187,000 40.8
$47,001 - $93,000 14.0
$0 - $47,000 5.3

Very Low for NJ
Average for Nation

Value Relative to Nation Value Relative to State
53.6700729927007 96.1616161616162

Number Of Homes And Apartments:
15,404

Atlantic City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
12.00% 0.58%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,267 / per month

Homeownership Rate

Homeownership
Owners 25.81
Renters 74.19
Vacant 23.27

Housing Market Details

 

Age of Homes

AGE OF Atlantic City HOMES
2000 or Newer 6.8
1970 - 1999 29.1
1940 - 1969 33.3
1939 or Older 30.9

Types of Homes

TYPE OF Atlantic City HOMES
Single-Family 16.9
Townhomes 14.0
Small Apt. Buildings 19.0
Apt. Complexes 50.1
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Atlantic City HOMES
No Bedroom 11.82
1 Bedroom 28.01
2 Bedrooms 27.80
3 Bedrooms 23.52
4 Bedrooms 6.83
5 or more bedrooms 2.02