Belleville, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Belleville Neighborhoods Since 2000




Belleville, NJ Real Estate Data


Belleville Housing Market Information

With a population of 36,354, 1,706 total housing units (homes and apartments), and a median house value of $286,290, Belleville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Belleville, accounting for 39.26% of the town's housing units. Other types of housing that are prevalent in Belleville include duplexes, homes converted to apartments or other small apartment buildings ( 31.53%), large apartment complexes or high rise apartments ( 24.78%), and a few row houses and other attached homes ( 4.06%).

People in Belleville primarily live in small (one, two or no bedroom) single-family detached homes. Belleville 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. Belleville's housing was primarily built during this period, from the '40s through the '60s. A full 51.07% of the town's housing hails from this era. Other housing ages represented in Belleville include homes built before 1939 ( 26.79%) and housing constructed between 1970-1999 ( 20.40%). There's also some housing in Belleville built between 2000 and later ( 1.74%).

Belleville Home Appreciation Rates

Homes have actually lost value in Belleville over the last then years, as home values have seen a decline of 24.23% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Belleville home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

Over the last year, Belleville appreciation rates have trailed the rest of the nation. In the last twelve months, Belleville's appreciation rate has been 3.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belleville were at 1.43%, which equates to an annual appreciation rate of 5.85%.

Relative to New Jersey, our data show that Belleville's latest annual appreciation rate is higher than 50% 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 town. Individual neighborhoods within Belleville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belleville - 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 Belleville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$286,290

Belleville, NJ HOME PRICES

Value Range
> $1,057,000 0.0
$793,001 - $1,057,000 0.2
$528,001 - $793,000 1.4
$423,001 - $528,000 7.1
$317,001 - $423,000 29.2
$211,001 - $317,000 37.9
$106,001 - $211,000 20.0
$53,001 - $106,000 2.4
$0 - $53,000 1.7

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
18.2701879721263 71.1382113821138

Number Of Homes And Apartments:
1,706

Rent & Ownership

 

Average Market Rent:
$1,537 / per month

Homeownership Rate

Homeownership
Owners 54.57
Renters 45.43
Vacant 6.55

Housing Market Details

 

Age of Homes

AGE OF Belleville HOMES
2000 or Newer 1.7
1970 - 1999 20.4
1940 - 1969 51.1
1939 or Older 26.8

Types of Homes

TYPE OF Belleville HOMES
Single-Family 39.3
Townhomes 4.1
Small Apt. Buildings 31.5
Apt. Complexes 24.8
Mobile Homes 0.2
Other 0.2

Home Size

SIZE OF Belleville HOMES
No Bedroom 11.04
1 Bedroom 16.55
2 Bedrooms 31.00
3 Bedrooms 30.33
4 Bedrooms 8.45
5 or more bedrooms 2.63

Belleville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
60.92% 2.84% 6 7
* 10 is highest