Bergenfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bergenfield, NJ Real Estate Data


Bergenfield Housing Market Information

With a population of 27,621, 9,112 total housing units (homes and apartments), and a median house value of $387,996, real estate costs in Bergenfield are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Bergenfield, accounting for 64.18% of the borough's housing units. Other types of housing that are prevalent in Bergenfield include duplexes, homes converted to apartments or other small apartment buildings ( 18.28%), large apartment complexes or high rise apartments ( 13.50%), and a few row houses and other attached homes ( 4.02%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bergenfield. Owner-occupied housing accounts for 67.66% of Bergenfield's homes, and 54.78% have either three or four bedrooms, which is average sized relative to America.

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. Bergenfield's housing was primarily built during this period, from the '40s through the '60s. A full 60.38% of the borough's housing hails from this era. Other housing ages represented in Bergenfield include homes built before 1939 ( 22.16%) and housing constructed between 1970-1999 ( 14.81%). There's also some housing in Bergenfield built between 2000 and later ( 2.66%).

Bergenfield Home Appreciation Rates

Bergenfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bergenfield during the period has been just -1.32%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bergenfield's appreciation rate, at 4.83%, has been at or slightly above the national average. In the latest quarter, Bergenfield's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to New Jersey, our data show that Bergenfield's latest annual appreciation rate is higher than 80% 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 borough. Individual neighborhoods within Bergenfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bergenfield - 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 Bergenfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$387,996

Bergenfield, NJ HOME PRICES

Value Range
> $1,143,000 0.9
$857,001 - $1,143,000 1.3
$572,001 - $857,000 6.8
$457,001 - $572,000 13.2
$343,001 - $457,000 46.7
$229,001 - $343,000 25.9
$114,001 - $229,000 2.8
$57,001 - $114,000 0.6
$0 - $57,000 1.9

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.2945482227558 44.7154471544715

Number Of Homes And Apartments:
9,112

Rent & Ownership

 

Average Market Rent:
$1,630 / per month

Homeownership Rate

Homeownership
Owners 67.66
Renters 32.34
Vacant 5.12

Housing Market Details

 

Age of Homes

AGE OF Bergenfield HOMES
2000 or Newer 2.7
1970 - 1999 14.8
1940 - 1969 60.4
1939 or Older 22.2

Types of Homes

TYPE OF Bergenfield HOMES
Single-Family 64.2
Townhomes 4.0
Small Apt. Buildings 18.3
Apt. Complexes 13.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Bergenfield HOMES
No Bedroom 0.52
1 Bedroom 18.04
2 Bedrooms 21.70
3 Bedrooms 37.40
4 Bedrooms 17.38
5 or more bedrooms 4.96

Bergenfield 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
60.72% 2.83% 6 7
* 10 is highest