Berkeley Heights, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Berkeley Heights Neighborhoods Since 2000




Berkeley Heights, 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

Berkeley Heights Housing Market Information

With 13,549 people, 2,205 houses or apartments, and a median cost of homes of $619,930, Berkeley Heights house prices are not only among the most expensive in New Jersey, Berkeley Heights real estate also is some of the most expensive in all of America.

Berkeley Heights is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Berkeley Heights 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 Berkeley Heights. Owner-occupied housing accounts for 89.94% of Berkeley Heights's homes, and 69.53% 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. Berkeley Heights's housing was primarily built during this period, from the '40s through the '60s. A full 61.13% of the town's housing hails from this era. Other housing ages represented in Berkeley Heights include homes built between 1970-1999 ( 23.52%) and housing constructed before 1939 ( 8.91%). There's also some housing in Berkeley Heights built between 2000 and later ( 6.44%).

Berkeley Heights Home Appreciation Rates

Appreciation rates for homes in Berkeley Heights have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.72%, which ranks in the top 50% nationwide. This equates to an annual average Berkeley Heights house appreciation rate of 0.07%.

NeighborhoodScout's data show that during the latest twelve months, Berkeley Heights's appreciation rate, at 4.22%, has been at or slightly above the national average. In the latest quarter, Berkeley Heights's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Berkeley Heights's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$619,930

Berkeley Heights, NJ HOME PRICES

Value Range
> $1,094,000 6.0
$821,001 - $1,094,000 15.1
$547,001 - $821,000 45.9
$438,001 - $547,000 18.8
$328,001 - $438,000 7.8
$219,001 - $328,000 3.4
$109,001 - $219,000 1.5
$55,001 - $109,000 0.4
$0 - $55,000 1.1

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
3.6153756006094 14.6341463414634

Number Of Homes And Apartments:
2,205

Berkeley Heights 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
61.69% 2.82% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,297 / per month

Homeownership Rate

Homeownership
Owners 89.94
Renters 10.06
Vacant 4.94

Housing Market Details

 

Age of Homes

AGE OF Berkeley Heights HOMES
2000 or Newer 6.4
1970 - 1999 23.5
1940 - 1969 61.1
1939 or Older 8.9

Types of Homes

TYPE OF Berkeley Heights HOMES
Single-Family 87.1
Townhomes 5.9
Small Apt. Buildings 5.2
Apt. Complexes 1.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Berkeley Heights HOMES
No Bedroom 0.00
1 Bedroom 3.10
2 Bedrooms 13.25
3 Bedrooms 28.64
4 Bedrooms 40.89
5 or more bedrooms 14.11

Popular Neighborhoods in Berkeley Heights

Zip Codes in Berkeley Heights, NJ