Boonton, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Boonton Neighborhoods Since 2000




Boonton, 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

Boonton Housing Market Information

With a population of 8,441, 3,248 total housing units (homes and apartments), and a median house value of $383,431, real estate costs in Boonton 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 Boonton, accounting for 63.87% of the town's housing units. Other types of housing that are prevalent in Boonton include duplexes, homes converted to apartments or other small apartment buildings ( 24.52%), row houses and other attached homes ( 5.91%), and a few large apartment complexes or high rise apartments ( 5.70%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Boonton. Owner-occupied housing accounts for 65.53% of Boonton's homes, and 59.55% have either three or four bedrooms, which is average sized relative to America.

The housing in Boonton was primarily built before 1939 ( 49.74%), making the housing stock in Boonton some of the oldest overall in America, although there is a range of ages of homes in Boonton. The next most important housing age is between 1940-1969 ( 28.31%), followed by between 1970-1999 ( 19.08%). There's also some housing in Boonton built between 2000 and later ( 2.87%).

Boonton Home Appreciation Rates

Boonton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Boonton during the period has been just -1.42%, which is lower than 80% of US communities.

Over the last year, Boonton appreciation rates have trailed the rest of the nation. In the last twelve months, Boonton's appreciation rate has been 0.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Boonton were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Boonton's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$383,431

Boonton, NJ HOME PRICES

Value Range
> $1,052,000 0.0
$789,001 - $1,052,000 2.7
$526,001 - $789,000 11.2
$420,001 - $526,000 27.4
$315,001 - $420,000 41.2
$211,001 - $315,000 12.3
$105,001 - $211,000 1.7
$53,001 - $105,000 1.1
$0 - $53,000 2.5

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.2484472049689 44.5121951219512

Number Of Homes And Apartments:
3,248

Boonton 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
49.82% 2.37% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,683 / per month

Homeownership Rate

Homeownership
Owners 65.53
Renters 34.47
Vacant 5.96

Housing Market Details

 

Age of Homes

AGE OF Boonton HOMES
2000 or Newer 2.9
1970 - 1999 19.1
1940 - 1969 28.3
1939 or Older 49.7

Types of Homes

TYPE OF Boonton HOMES
Single-Family 63.9
Townhomes 5.9
Small Apt. Buildings 24.5
Apt. Complexes 5.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Boonton HOMES
No Bedroom 1.27
1 Bedroom 12.54
2 Bedrooms 22.47
3 Bedrooms 40.85
4 Bedrooms 18.70
5 or more bedrooms 4.17