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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 7,196, 2,632 total housing units (homes and apartments), and a median house value of $932,272, 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.
Basking Ridge is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Basking Ridge than is found in 98% of the communities in America.
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 84.25% of Basking Ridge's homes, and 64.03% 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 ( 37.67%). A lesser amount of the housing stock also hails from before 1939 ( 13.11%). There's also some housing in Basking Ridge built between 2000 and later ( 8.12%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Basking Ridge, where house values have increased just 35.63%, which is annualized rate of 3.09%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
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 9.44%, 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 3.80%, which equates to an annual appreciation rate of 16.08%.
Relative to New Jersey, our data show that Basking Ridge's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.
