Cranbury, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cranbury, 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

Cranbury Housing Market Information

With a population of 2,223, 733 total housing units (homes and apartments), and a median house value of $695,300, Cranbury house prices are not only among the most expensive in New Jersey, Cranbury real estate also is some of the most expensive in all of America.

Cranbury is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Cranbury than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cranbury. Owner-occupied housing accounts for 81.16% of Cranbury's homes, and 72.59% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cranbury 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 Cranbury built before 1939 ( 30.91%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.53%). There's also some housing in Cranbury built between 2000 and later ( 7.51%).

Cranbury Home Appreciation Rates

Real estate appreciation rates in Cranbury's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.07% during the period.

NeighborhoodScout's data show that during the latest twelve months, Cranbury's appreciation rate, at 3.17%, has been at or slightly above the national average. In the latest quarter, Cranbury's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Cranbury's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$695,300

Cranbury 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
62.76% 2.86% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,532 / per month

Homeownership Rate

Homeownership
Owners 81.16
Renters 18.84
Vacant 8.26

Housing Market Details

 

Age of Homes

AGE OF Cranbury HOMES
2000 or Newer 7.5
1970 - 1999 36.0
1940 - 1969 25.5
1939 or Older 30.9

Types of Homes

TYPE OF Cranbury HOMES
Single-Family 87.6
Townhomes 3.6
Small Apt. Buildings 6.5
Apt. Complexes 2.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Cranbury HOMES
No Bedroom 1.63
1 Bedroom 8.14
2 Bedrooms 2.63
3 Bedrooms 29.29
4 Bedrooms 43.30
5 or more bedrooms 15.02