Cherry Hill, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cherry Hill Neighborhoods Since 2000




Cherry Hill, 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

Cherry Hill Housing Market Information

With 71,340 people, 1,982 houses or apartments, and a median cost of homes of $268,605, Cherry Hill real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cherry Hill, accounting for 71.20% of the town's housing units. Other types of housing that are prevalent in Cherry Hill include large apartment complexes or high rise apartments ( 17.06%), row houses and other attached homes ( 7.92%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.50%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cherry Hill. Owner-occupied housing accounts for 78.83% of Cherry Hill's homes, and 67.52% have either three or four bedrooms, which is average sized relative to America.

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. Cherry Hill's housing was primarily built during this period, from the '40s through the '60s. A full 51.03% of the town's housing hails from this era. Other housing ages represented in Cherry Hill include homes built between 1970-1999 ( 40.31%) and housing constructed between 2000 and later ( 5.28%). There's also some housing in Cherry Hill built before 1939 ( 3.38%).

Cherry Hill Home Appreciation Rates

Cherry Hill's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cherry Hill during the period has been just -1.74%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Cherry Hill's appreciation rate, at 3.28%, has been at or slightly above the national average. In the latest quarter, Cherry Hill's appreciation rate has been 0.08%, which annualizes to a rate of 0.32%.

Relative to New Jersey, our data show that Cherry Hill's latest annual appreciation rate is higher than 50% 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 Cherry Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cherry Hill - 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 Cherry Hill real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$268,605

Cherry Hill, NJ HOME PRICES

Value Range
> $1,067,000 0.4
$800,001 - $1,067,000 0.5
$534,001 - $800,000 4.5
$427,001 - $534,000 5.6
$320,001 - $427,000 22.3
$213,001 - $320,000 42.8
$107,001 - $213,000 18.7
$53,001 - $107,000 2.4
$0 - $53,000 2.9

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
19.9636704558772 72.7642276422764

Number Of Homes And Apartments:
1,982

Cherry Hill 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
50.42% 2.40% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,791 / per month

Homeownership Rate

Homeownership
Owners 78.83
Renters 21.17
Vacant 5.21

Housing Market Details

 

Age of Homes

AGE OF Cherry Hill HOMES
2000 or Newer 5.3
1970 - 1999 40.3
1940 - 1969 51.0
1939 or Older 3.4

Types of Homes

TYPE OF Cherry Hill HOMES
Single-Family 71.2
Townhomes 7.9
Small Apt. Buildings 3.5
Apt. Complexes 17.1
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Cherry Hill HOMES
No Bedroom 1.29
1 Bedroom 7.56
2 Bedrooms 16.64
3 Bedrooms 32.39
4 Bedrooms 35.13
5 or more bedrooms 6.99