Bound Brook, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Bound Brook Neighborhoods Since 2000




Bound Brook, 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

Bound Brook Housing Market Information

With a population of 10,497, 3,713 total housing units (homes and apartments), and a median house value of $276,031, Bound Brook real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Bound Brook, accounting for 42.56% of the borough's housing units. Other types of housing that are prevalent in Bound Brook include duplexes, homes converted to apartments or other small apartment buildings ( 34.24%), row houses and other attached homes ( 11.94%), and a few large apartment complexes or high rise apartments ( 11.04%).

People in Bound Brook primarily live in small (one, two or no bedroom) single-family detached homes. Bound Brook has a mixture of owner-occupied and renter-occupied housing.

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. Bound Brook's housing was primarily built during this period, from the '40s through the '60s. A full 50.98% of the borough's housing hails from this era. Other housing ages represented in Bound Brook include homes built before 1939 ( 32.91%) and housing constructed between 1970-1999 ( 14.83%). There's also some housing in Bound Brook built between 2000 and later ( 1.28%).

Vacant housing appears to be an issue in Bound Brook. Fully 18.20% of the housing stock is classified as vacant. Left unchecked, vacant Bound Brook homes and apartments can be a drag on the real estate market, holding Bound Brook 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.

Bound Brook Home Appreciation Rates

Homes have actually lost value in Bound Brook over the last then years, as home values have seen a decline of 22.62% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bound Brook home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Bound Brook appreciation rates have trailed the rest of the nation. In the last twelve months, Bound Brook's appreciation rate has been -0.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bound Brook were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$276,031

Bound Brook, NJ HOME PRICES

Value Range
> $1,033,000 0.0
$774,001 - $1,033,000 0.0
$516,001 - $774,000 2.6
$413,001 - $516,000 2.8
$310,001 - $413,000 32.2
$207,001 - $310,000 38.3
$104,001 - $207,000 20.2
$52,001 - $104,000 1.8
$0 - $52,000 2.0

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
18.8737841321927 70.5284552845528

Number Of Homes And Apartments:
3,713

Bound Brook 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
33.43% 1.69% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,649 / per month

Homeownership Rate

Homeownership
Owners 53.41
Renters 46.59
Vacant 18.20

Housing Market Details

 

Age of Homes

AGE OF Bound Brook HOMES
2000 or Newer 1.3
1970 - 1999 14.8
1940 - 1969 51.0
1939 or Older 32.9

Types of Homes

TYPE OF Bound Brook HOMES
Single-Family 42.6
Townhomes 11.9
Small Apt. Buildings 34.2
Apt. Complexes 11.0
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Bound Brook HOMES
No Bedroom 0.37
1 Bedroom 22.63
2 Bedrooms 32.43
3 Bedrooms 31.81
4 Bedrooms 11.02
5 or more bedrooms 1.74