Bergenfield NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Bergenfield, 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 Q2 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

Bergenfield Housing Market Information

With a population of 27,479, 8,760 total housing units (homes and apartments), and a median house value of $406,972, 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 65.86% 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 ( 19.74%), large apartment complexes or high rise apartments ( 10.73%), and a few row houses and other attached homes ( 3.66%).

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 67.11% of Bergenfield's homes, and 57.12% 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 58.32% of the borough's housing hails from this era. Other housing ages represented in Bergenfield include homes built before 1939 ( 23.94%) and housing constructed between 1970-1999 ( 15.37%). There's also some housing in Bergenfield built between 2000 and later ( 2.37%).

Bergenfield Home Appreciation Rates

Real estate appreciation rates in Bergenfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.44% during the period.

NeighborhoodScout's data show that during the latest twelve months, Bergenfield's appreciation rate, at 4.06%, has been at or slightly above the national average. In the latest quarter, Bergenfield's appreciation rate has been 0.75%, which annualizes to a rate of 3.02%.

Relative to New Jersey, our data show that Bergenfield'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 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:
$406,972

Bergenfield, NJ HOME PRICES

Value Range
> $1,175,000 1.2
$882,001 - $1,175,000 2.8
$588,001 - $882,000 8.2
$470,001 - $588,000 14.0
$353,001 - $470,000 46.8
$235,001 - $353,000 23.1
$117,001 - $235,000 1.9
$59,001 - $117,000 0.6
$0 - $59,000 1.4

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
11.8656934306569 46.4646464646465

Number Of Homes And Apartments:
8,760

Bergenfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
85.32% 3.06%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,047 / per month

Homeownership Rate

Homeownership
Owners 67.11
Renters 32.89
Vacant 2.79

Housing Market Details

 

Age of Homes

AGE OF Bergenfield HOMES
2000 or Newer 2.4
1970 - 1999 15.4
1940 - 1969 58.3
1939 or Older 23.9

Types of Homes

TYPE OF Bergenfield HOMES
Single-Family 65.9
Townhomes 3.7
Small Apt. Buildings 19.7
Apt. Complexes 10.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Bergenfield HOMES
No Bedroom 1.50
1 Bedroom 16.27
2 Bedrooms 20.36
3 Bedrooms 39.94
4 Bedrooms 17.18
5 or more bedrooms 4.75