Bridgeton, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bridgeton, 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

Bridgeton Housing Market Information

With a population of 25,031, 5,969 total housing units (homes and apartments), and a median house value of $91,449, house prices in Bridgeton are some of the most affordable in New Jersey as well as the nation.

Single-family detached homes are the single most common housing type in Bridgeton, accounting for 44.31% of the city's housing units. Other types of housing that are prevalent in Bridgeton include duplexes, homes converted to apartments or other small apartment buildings ( 25.17%), row houses and other attached homes ( 16.07%), and a few large apartment complexes or high rise apartments ( 14.45%).

Renters dominate Bridgeton's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

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. Bridgeton's housing was primarily built during this period, from the '40s through the '60s. A full 50.22% of the city's housing hails from this era. Other housing ages represented in Bridgeton include homes built before 1939 ( 22.82%) and housing constructed between 1970-1999 ( 15.01%). There's also some housing in Bridgeton built between 2000 and later ( 11.95%).

Vacant housing appears to be an issue in Bridgeton. Fully 13.84% of the housing stock is classified as vacant. Left unchecked, vacant Bridgeton homes and apartments can be a drag on the real estate market, holding Bridgeton 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.

Bridgeton Home Appreciation Rates

Homes have actually lost value in Bridgeton over the last then years, as home values have seen a decline of 26.55% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bridgeton home appreciation rates at -1.03%, which equates to an annual appreciation rate of -4.06%.

Over the last year, Bridgeton appreciation rates have trailed the rest of the nation. In the last twelve months, Bridgeton's appreciation rate has been 1.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bridgeton were at -1.03%, which equates to an annual appreciation rate of -4.06%.

Notably, Bridgeton's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New Jersey, our data show that Bridgeton's latest annual appreciation rate is lower than 70% 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 city. Individual neighborhoods within Bridgeton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bridgeton - 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 Bridgeton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$91,449

Bridgeton, NJ HOME PRICES

Value Range
> $998,000 0.4
$748,001 - $998,000 0.2
$499,001 - $748,000 0.2
$399,001 - $499,000 0.5
$299,001 - $399,000 1.7
$199,001 - $299,000 6.1
$100,001 - $199,000 37.4
$50,001 - $100,000 37.5
$0 - $50,000 15.8

Very Low for NJ
Very Low for Nation

Value Relative to Nation Value Relative to State
82.9661314895113 99.390243902439

Number Of Homes And Apartments:
5,969

Bridgeton 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
28.63% 1.47% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,324 / per month

Homeownership Rate

Homeownership
Owners 34.69
Renters 65.31
Vacant 13.84

Housing Market Details

 

Age of Homes

AGE OF Bridgeton HOMES
2000 or Newer 12.0
1970 - 1999 15.0
1940 - 1969 50.2
1939 or Older 22.8

Types of Homes

TYPE OF Bridgeton HOMES
Single-Family 44.3
Townhomes 16.1
Small Apt. Buildings 25.2
Apt. Complexes 14.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Bridgeton HOMES
No Bedroom 2.25
1 Bedroom 14.69
2 Bedrooms 31.77
3 Bedrooms 37.07
4 Bedrooms 11.91
5 or more bedrooms 2.31