East Hanover, NJ


Highest Appreciating East Hanover Neighborhoods Since 2000

East Hanover, 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

East Hanover Housing Market Information

With 11,269 people, 1,958 houses or apartments, and a median cost of homes of $520,171, real estate costs in East Hanover 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 East Hanover, accounting for 78.77% of the town's housing units. Other types of housing that are prevalent in East Hanover include row houses and other attached homes ( 9.96%), duplexes, homes converted to apartments or other small apartment buildings ( 6.29%), and a few large apartment complexes or high rise apartments ( 4.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in East Hanover. Owner-occupied housing accounts for 90.47% of East Hanover's homes, and 69.99% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in East Hanover 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 East Hanover built between 1940-1969 ( 40.79%). A lesser amount of the housing stock also hails from before 1939 ( 6.55%). There's also some housing in East Hanover built between 2000 and later ( 6.04%).

East Hanover Home Appreciation Rates

Real estate appreciation rates in East Hanover's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.61% during the period.

Over the last year, East Hanover appreciation rates have trailed the rest of the nation. In the last twelve months, East Hanover's appreciation rate has been 1.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in East Hanover were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values


Median Home Value:

East Hanover, NJ HOME PRICES

Value Range
> $1,089,000 0.3
$817,001 - $1,089,000 9.9
$545,001 - $817,000 38.8
$436,001 - $545,000 20.9
$327,001 - $436,000 19.0
$218,001 - $327,000 4.1
$109,001 - $218,000 2.7
$55,001 - $109,000 1.6
$0 - $55,000 2.7

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
5.38497597562405 23.5772357723577

Number Of Homes And Apartments:

East Hanover Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
57.01% 2.65% 6 7
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,811 / per month

Homeownership Rate

Owners 90.47
Renters 9.53
Vacant 3.54

Housing Market Details


Age of Homes

AGE OF East Hanover HOMES
2000 or Newer 6.0
1970 - 1999 46.6
1940 - 1969 40.8
1939 or Older 6.5

Types of Homes

TYPE OF East Hanover HOMES
Single-Family 78.8
Townhomes 10.0
Small Apt. Buildings 6.3
Apt. Complexes 5.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF East Hanover HOMES
No Bedroom 1.56
1 Bedroom 2.52
2 Bedrooms 16.53
3 Bedrooms 31.04
4 Bedrooms 38.95
5 or more bedrooms 9.40

Popular Neighborhoods in East Hanover

Zip Codes in East Hanover, NJ