Boonton, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Boonton Neighborhoods Since 2000




Boonton, NJ Real Estate Data


Boonton Housing Market Information

With 8,441 people, 3,117 houses or apartments, and a median cost of homes of $436,851, 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 62.46% 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 ( 25.41%), large apartment complexes or high rise apartments ( 6.61%), and a few row houses and other attached homes ( 5.53%).

The most prevalent building size and type in Boonton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.10% owning and 36.90% renting.

The housing in Boonton was primarily built before 1939 ( 45.97%), 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 ( 29.82%), followed by between 1970-1999 ( 22.20%). There's also some housing in Boonton built between 2000 and later ( 2.01%).

Boonton Home Appreciation Rates

Real estate appreciation rates in Boonton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.63% during the period.

NeighborhoodScout's data show that during the latest twelve months, Boonton's appreciation rate, at 4.92%, has been at or slightly above the national average. In the latest quarter, Boonton's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

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

Average Home Values

 

Median Home Value:
$436,851

Boonton, NJ HOME PRICES

Value Range
> $1,122,000 0.0
$841,001 - $1,122,000 3.0
$561,001 - $841,000 13.4
$449,001 - $561,000 28.6
$337,001 - $449,000 38.4
$224,001 - $337,000 10.7
$112,001 - $224,000 2.1
$56,001 - $112,000 0.8
$0 - $56,000 3.1

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
8.07518885050067 35.3658536585366

Number Of Homes And Apartments:
3,117

Rent & Ownership

 

Average Market Rent:
$1,813 / per month

Homeownership Rate

Homeownership
Owners 63.10
Renters 36.90
Vacant 3.77

Housing Market Details

 

Age of Homes

AGE OF Boonton HOMES
2000 or Newer 2.0
1970 - 1999 22.2
1940 - 1969 29.8
1939 or Older 46.0

Types of Homes

TYPE OF Boonton HOMES
Single-Family 62.5
Townhomes 5.5
Small Apt. Buildings 25.4
Apt. Complexes 6.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Boonton HOMES
No Bedroom 1.70
1 Bedroom 13.55
2 Bedrooms 21.55
3 Bedrooms 37.97
4 Bedrooms 19.85
5 or more bedrooms 5.37

Boonton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
63.86% 2.95% 7 8
* 10 is highest