Bergenfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bergenfield Neighborhoods Since 2000




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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (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 27,621, 8,972 total housing units (homes and apartments), and a median house value of $370,418, 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 63.84% 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 ( 19.28%), large apartment complexes or high rise apartments ( 12.69%), and a few row houses and other attached homes ( 4.11%).

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 67.10% of Bergenfield's homes, and 55.45% 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 55.40% of the borough's housing hails from this era. Other housing ages represented in Bergenfield include homes built before 1939 ( 25.97%) and housing constructed between 1970-1999 ( 15.80%). There's also some housing in Bergenfield built between 2000 and later ( 2.83%).

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 -1.56%, which is lower than 80% of US communities.

Over the last year, Bergenfield appreciation rates have trailed the rest of the nation. In the last twelve months, Bergenfield's appreciation rate has been 2.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bergenfield were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Bergenfield's latest annual appreciation rate is lower 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:
$370,418

Bergenfield, NJ HOME PRICES

Value Range
> $1,104,000 1.1
$828,001 - $1,104,000 1.1
$552,001 - $828,000 6.7
$442,001 - $552,000 13.6
$331,001 - $442,000 43.5
$221,001 - $331,000 28.9
$110,001 - $221,000 2.1
$55,001 - $110,000 1.0
$0 - $55,000 2.0

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.8812844251729 47.5609756097561

Number Of Homes And Apartments:
8,972

Bergenfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
55.42% 2.59% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,663 / per month

Homeownership Rate

Homeownership
Owners 67.10
Renters 32.90
Vacant 4.40

Housing Market Details

 

Age of Homes

AGE OF Bergenfield HOMES
2000 or Newer 2.8
1970 - 1999 15.8
1940 - 1969 55.4
1939 or Older 26.0

Types of Homes

TYPE OF Bergenfield HOMES
Single-Family 63.8
Townhomes 4.1
Small Apt. Buildings 19.3
Apt. Complexes 12.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Bergenfield HOMES
No Bedroom 0.90
1 Bedroom 17.25
2 Bedrooms 21.72
3 Bedrooms 38.42
4 Bedrooms 17.03
5 or more bedrooms 4.69