Basking Ridge NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Basking Ridge, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Basking Ridge Housing Market Information

With 27,085 people, 2,534 houses or apartments, and a median cost of homes of $848,565, Basking Ridge house prices are not only among the most expensive in New Jersey, Basking Ridge real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Basking Ridge, accounting for 57.36% of the town's housing units. Other types of housing that are prevalent in Basking Ridge include row houses and other attached homes ( 21.09%), large apartment complexes or high rise apartments ( 15.71%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.63%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Basking Ridge. Owner-occupied housing accounts for 80.20% of Basking Ridge's homes, and 54.63% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Basking Ridge built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Basking Ridge built between 1940-1969 ( 23.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.93%). There's also some housing in Basking Ridge built before 1939 ( 5.99%).

Basking Ridge Home Appreciation Rates

Basking Ridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Basking Ridge during the period has been just 1.51%, which is lower than 70% of US communities.

Over the last year, Basking Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, Basking Ridge's appreciation rate has been 2.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Basking Ridge were at 0.69%, which equates to an annual appreciation rate of 2.79%.

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

Relative to New Jersey, our data show that Basking Ridge's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$848,565

Basking Ridge, NJ HOME PRICES

Value Range
> $1,105,000 17.7
$829,001 - $1,105,000 23.8
$553,001 - $829,000 28.8
$442,001 - $553,000 7.0
$332,001 - $442,000 10.3
$221,001 - $332,000 7.7
$111,001 - $221,000 3.5
$55,001 - $111,000 0.1
$0 - $55,000 1.1

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
2.06715328467153 5.85858585858586

Number Of Homes And Apartments:
2,534

Basking Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
72.59% 2.66%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,659 / per month

Homeownership Rate

Homeownership
Owners 80.20
Renters 19.80
Vacant 3.86

Housing Market Details

 

Age of Homes

AGE OF Basking Ridge HOMES
2000 or Newer 8.9
1970 - 1999 61.8
1940 - 1969 23.3
1939 or Older 6.0

Types of Homes

TYPE OF Basking Ridge HOMES
Single-Family 57.4
Townhomes 21.1
Small Apt. Buildings 5.6
Apt. Complexes 15.7
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Basking Ridge HOMES
No Bedroom 1.06
1 Bedroom 6.71
2 Bedrooms 24.76
3 Bedrooms 21.78
4 Bedrooms 32.85
5 or more bedrooms 12.85