Avenel, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Avenel Neighborhoods Since 2000




Avenel, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Avenel Housing Market Information

With a population of 17,223, 5,147 total housing units (homes and apartments), and a median house value of $295,479, Avenel real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Avenel, accounting for 45.55% of the town's housing units. Other types of housing that are prevalent in Avenel include large apartment complexes or high rise apartments ( 36.86%), duplexes, homes converted to apartments or other small apartment buildings ( 9.19%), and a few mobile homes or trailers ( 4.76%).

People in Avenel primarily live in small (one, two or no bedroom) single-family detached homes. Avenel has a mixture of owner-occupied and renter-occupied housing.

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. Avenel's housing was primarily built during this period, from the '40s through the '60s. A full 43.95% of the town's housing hails from this era. Other housing ages represented in Avenel include homes built between 1970-1999 ( 34.14%) and housing constructed between 2000 and later ( 13.68%). There's also some housing in Avenel built before 1939 ( 8.24%).

Avenel Home Appreciation Rates

Avenel's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Avenel during the period has been just -2.08%, which is lower than 80% of US communities.

Appreciation rates are so strong in Avenel that despite a nationwide downturn in the housing market, Avenel real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Avenel appreciation rates continue to be some of the highest in America, at 5.60%, which is higher than appreciation rates in 70.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Avenel. Avenel appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Avenel's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$295,479

Avenel, NJ HOME PRICES

Value Range
> $1,076,000 0.0
$807,001 - $1,076,000 0.0
$538,001 - $807,000 1.8
$430,001 - $538,000 5.2
$323,001 - $430,000 20.6
$215,001 - $323,000 49.1
$108,001 - $215,000 8.1
$54,001 - $108,000 5.5
$0 - $54,000 9.8

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
16.6940114848236 65.4471544715447

Number Of Homes And Apartments:
5,147

Avenel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
64.31% 2.92% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,659 / per month

Homeownership Rate

Homeownership
Owners 39.15
Renters 60.85
Vacant 3.83

Housing Market Details

 

Age of Homes

AGE OF Avenel HOMES
2000 or Newer 13.7
1970 - 1999 34.1
1940 - 1969 43.9
1939 or Older 8.2

Types of Homes

TYPE OF Avenel HOMES
Single-Family 45.6
Townhomes 3.1
Small Apt. Buildings 9.2
Apt. Complexes 36.9
Mobile Homes 4.8
Other 0.5

Home Size

SIZE OF Avenel HOMES
No Bedroom 0.60
1 Bedroom 29.99
2 Bedrooms 27.15
3 Bedrooms 26.21
4 Bedrooms 12.52
5 or more bedrooms 3.53