Blackwood, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Blackwood Neighborhoods Since 2000




Blackwood, 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

Blackwood Housing Market Information

With a population of 4,502, 1,578 total housing units (homes and apartments), and a median house value of $173,117, Blackwood real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Blackwood homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Blackwood, accounting for 76.55% of the town's housing units. Other types of housing that are prevalent in Blackwood include duplexes, homes converted to apartments or other small apartment buildings ( 9.85%), large apartment complexes or high rise apartments ( 9.11%), and a few row houses and other attached homes ( 4.50%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Blackwood. Owner-occupied housing accounts for 72.04% of Blackwood's homes, and 70.40% 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. Blackwood's housing was primarily built during this period, from the '40s through the '60s. A full 57.66% of the town's housing hails from this era. Other housing ages represented in Blackwood include homes built before 1939 ( 19.29%) and housing constructed between 1970-1999 ( 17.59%). There's also some housing in Blackwood built between 2000 and later ( 5.46%).

Vacant housing appears to be an issue in Blackwood. Fully 10.19% of the housing stock is classified as vacant. Left unchecked, vacant Blackwood homes and apartments can be a drag on the real estate market, holding Blackwood real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Blackwood Home Appreciation Rates

Homes have actually lost value in Blackwood over the last then years, as home values have seen a decline of 22.76% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Blackwood home appreciation rates at 0.08%, which equates to an annual appreciation rate of 0.32%.

Over the last year, Blackwood appreciation rates have trailed the rest of the nation. In the last twelve months, Blackwood's appreciation rate has been 0.82%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Blackwood were at 0.08%, which equates to an annual appreciation rate of 0.32%.

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

Average Home Values

 

Median Home Value:
$173,117

Blackwood, NJ HOME PRICES

Value Range
> $1,019,000 0.6
$764,001 - $1,019,000 0.0
$510,001 - $764,000 0.2
$408,001 - $510,000 0.0
$305,001 - $408,000 1.8
$204,001 - $305,000 23.5
$102,001 - $204,000 62.1
$51,001 - $102,000 7.4
$0 - $51,000 4.4

Very Low for NJ
Average for Nation

Value Relative to Nation Value Relative to State
40.5660377358491 91.260162601626

Number Of Homes And Apartments:
1,578

Blackwood 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
43.39% 2.11% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,511 / per month

Homeownership Rate

Homeownership
Owners 72.04
Renters 27.96
Vacant 10.19

Housing Market Details

 

Age of Homes

AGE OF Blackwood HOMES
2000 or Newer 5.5
1970 - 1999 17.6
1940 - 1969 57.7
1939 or Older 19.3

Types of Homes

TYPE OF Blackwood HOMES
Single-Family 76.6
Townhomes 4.5
Small Apt. Buildings 9.8
Apt. Complexes 9.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Blackwood HOMES
No Bedroom 3.02
1 Bedroom 10.98
2 Bedrooms 14.40
3 Bedrooms 49.86
4 Bedrooms 20.55
5 or more bedrooms 1.20