Bridgewater, NJ Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bridgewater, NJ Housing Market Trends

With 38,767 people, 1,829 houses or apartments, and a median cost of homes of $569,094, real estate costs in Bridgewater 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 Bridgewater, accounting for 68.40% of the town's housing units. Other types of housing that are prevalent in Bridgewater include large apartment complexes or high rise apartments ( 14.55%), row houses and other attached homes ( 12.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.36%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bridgewater. Owner-occupied housing accounts for 81.31% of Bridgewater's homes, and 68.67% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Bridgewater built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bridgewater built between 1940-1969 ( 36.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.16%). There's also some housing in Bridgewater built before 1939 ( 3.86%).

Bridgewater Home Appreciation Rates

Bridgewater's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bridgewater during the period has been just 2.48%, which is lower than 70% of US communities.

Over the last year, Bridgewater appreciation rates have trailed the rest of the nation. In the last twelve months, Bridgewater's appreciation rate has been 8.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bridgewater were at 3.14%, which equates to an annual appreciation rate of 13.18%.

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

Average Home Values

 

Median Home Value:
$569,094

Bridgewater, NJ HOME PRICES

> $1,146,000
0.7%
0.7%
$859,001 - $1,146,000
4.6%
4.6%
$573,001 - $859,000
35.2%
35.2%
$459,001 - $573,000
21.8%
21.8%
$344,001 - $459,000
19.7%
19.7%
$229,001 - $344,000
11.6%
11.6%
$115,001 - $229,000
4.7%
4.7%
$57,001 - $115,000
1.4%
1.4%
$0 - $57,000
0.4%
0.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for NJ

Value Relative To Nation

Number Of Homes And Apartments:
1,829

Bridgewater Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
75.46% 2.65%
4
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,024 / per month

Homeownership Rate

Owners
81.3%
81.3%
Renters
18.7%
18.7%
Vacant
3.1%
3.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.2%
7.2%
1970 - 1999
52.5%
52.5%
1940 - 1969
36.5%
36.5%
1939 or Older
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.4%
68.4%
Townhomes
12.7%
12.7%
Small Apt. Buildings
4.4%
4.4%
Apt. Complexes
14.6%
14.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.1%
1.1%
1 Bedroom
6.8%
6.8%
2 Bedrooms
16.7%
16.7%
3 Bedrooms
33.8%
33.8%
4 Bedrooms
34.9%
34.9%
5 or more bedrooms
6.7%
6.7%
0.0% 100.0%
% OF HOMES