Chester, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Chester Neighborhoods Since 2000




Chester, 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

Chester Housing Market Information

With 1,675 people, 580 houses or apartments, and a median cost of homes of $513,269, real estate costs in Chester 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 Chester, accounting for 69.72% of the borough's housing units. Other types of housing that are prevalent in Chester include mobile homes or trailers ( 10.25%), large apartment complexes or high rise apartments ( 9.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chester. Owner-occupied housing accounts for 74.51% of Chester's homes, and 59.31% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Chester 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 Chester built between 1940-1969 ( 25.55%). A lesser amount of the housing stock also hails from before 1939 ( 23.34%). There's also some housing in Chester built between 2000 and later ( 9.78%).

Chester Home Appreciation Rates

Homes have actually lost value in Chester over the last then years, as home values have seen a decline of 19.72% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Chester home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Chester appreciation rates have trailed the rest of the nation. In the last twelve months, Chester's appreciation rate has been 0.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chester were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Chester's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$513,269

Chester, NJ HOME PRICES

Value Range
> $1,040,000 2.5
$780,001 - $1,040,000 19.7
$520,001 - $780,000 26.5
$416,001 - $520,000 21.0
$312,001 - $416,000 13.8
$208,001 - $312,000 4.3
$104,001 - $208,000 0.0
$52,001 - $104,000 5.2
$0 - $52,000 7.0

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
5.63107933903668 24.1869918699187

Number Of Homes And Apartments:
580

Chester 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
28.45% 1.46% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,804 / per month

Homeownership Rate

Homeownership
Owners 74.51
Renters 25.49
Vacant 8.52

Housing Market Details

 

Age of Homes

AGE OF Chester HOMES
2000 or Newer 9.8
1970 - 1999 41.3
1940 - 1969 25.6
1939 or Older 23.3

Types of Homes

TYPE OF Chester HOMES
Single-Family 69.7
Townhomes 3.3
Small Apt. Buildings 7.1
Apt. Complexes 9.6
Mobile Homes 10.3
Other 0.0

Home Size

SIZE OF Chester HOMES
No Bedroom 0.00
1 Bedroom 15.46
2 Bedrooms 18.93
3 Bedrooms 26.18
4 Bedrooms 33.12
5 or more bedrooms 6.31