Butler, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Butler Neighborhoods Since 2000




Butler, 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

Butler Housing Market Information

With a population of 7,701, 2,731 total housing units (homes and apartments), and a median house value of $368,721, real estate costs in Butler 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 Butler, accounting for 56.09% of the borough's housing units. Other types of housing that are prevalent in Butler include large apartment complexes or high rise apartments ( 19.06%), duplexes, homes converted to apartments or other small apartment buildings ( 16.93%), and a few row houses and other attached homes ( 7.92%).

Dwellings in Butler tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.41% of the homes in Butler have two or fewer bedrooms.

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. Butler's housing was primarily built during this period, from the '40s through the '60s. A full 35.51% of the borough's housing hails from this era. Other housing ages represented in Butler include homes built between 1970-1999 ( 24.58%) and housing constructed before 1939 ( 23.83%). There's also some housing in Butler built between 2000 and later ( 16.08%).

Butler Home Appreciation Rates

Butler's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Butler during the period has been just -1.17%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Butler's appreciation rate, at 5.22%, has been at or slightly above the national average. In the latest quarter, Butler's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$368,721

Butler, NJ HOME PRICES

Value Range
> $1,087,000 0.0
$816,001 - $1,087,000 1.3
$544,001 - $816,000 5.2
$435,001 - $544,000 14.5
$326,001 - $435,000 48.2
$217,001 - $326,000 26.0
$109,001 - $217,000 2.5
$54,001 - $109,000 0.4
$0 - $54,000 2.0

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.9515996718622 47.9674796747967

Number Of Homes And Apartments:
2,731

Butler 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
50.13% 2.38% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,881 / per month

Homeownership Rate

Homeownership
Owners 68.17
Renters 31.83
Vacant 7.55

Housing Market Details

 

Age of Homes

AGE OF Butler HOMES
2000 or Newer 16.1
1970 - 1999 24.6
1940 - 1969 35.5
1939 or Older 23.8

Types of Homes

TYPE OF Butler HOMES
Single-Family 56.1
Townhomes 7.9
Small Apt. Buildings 16.9
Apt. Complexes 19.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Butler HOMES
No Bedroom 1.12
1 Bedroom 15.84
2 Bedrooms 33.45
3 Bedrooms 27.35
4 Bedrooms 17.37
5 or more bedrooms 4.87