East Orange, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating East Orange Neighborhoods Since 2000




East Orange, 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 Orange Housing Market Information

With 64,949 people, 25,526 houses or apartments, and a median cost of homes of $200,104, East Orange real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, East Orange homes are still considered rather expensive.

Large apartment complexes or high rise apartments are the single most common housing type in East Orange, accounting for 48.29% of the city's housing units. Other types of housing that are prevalent in East Orange include duplexes, homes converted to apartments or other small apartment buildings ( 30.70%), single-family detached homes ( 17.95%), and a few row houses and other attached homes ( 3.00%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

East Orange is dominated by renter-occupied one, two, or no bedrooms apartments. 74.40% of East Orange's dwellings are rentals.

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. East Orange's housing was primarily built during this period, from the '40s through the '60s. A full 44.70% of the city's housing hails from this era. Other housing ages represented in East Orange include homes built before 1939 ( 27.55%) and housing constructed between 1970-1999 ( 22.83%). There's also some housing in East Orange built between 2000 and later ( 4.92%).

Vacant housing appears to be an issue in East Orange. Fully 16.18% of the housing stock is classified as vacant. Left unchecked, vacant East Orange homes and apartments can be a drag on the real estate market, holding East Orange real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

East Orange Home Appreciation Rates

Homes have actually lost value in East Orange over the last then years, as home values have seen a decline of 32.61% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows East Orange home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, East Orange appreciation rates have trailed the rest of the nation. In the last twelve months, East Orange's appreciation rate has been 1.67%, 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 Orange were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that East Orange's latest annual appreciation rate is lower than 70% 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 city. Individual neighborhoods within East Orange differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Orange - 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 East Orange real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$200,104

East Orange, NJ HOME PRICES

Value Range
> $945,000 0.6
$709,001 - $945,000 0.4
$473,001 - $709,000 0.2
$379,001 - $473,000 1.4
$284,001 - $379,000 8.4
$189,001 - $284,000 43.3
$95,001 - $189,000 33.2
$47,001 - $95,000 8.1
$0 - $47,000 4.5

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
32.2219617953826 85.1626016260163

Number Of Homes And Apartments:
25,526

East Orange 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
26.71% 1.38% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,387 / per month

Homeownership Rate

Homeownership
Owners 25.60
Renters 74.40
Vacant 16.18

Housing Market Details

 

Age of Homes

AGE OF East Orange HOMES
2000 or Newer 4.9
1970 - 1999 22.8
1940 - 1969 44.7
1939 or Older 27.5

Types of Homes

TYPE OF East Orange HOMES
Single-Family 17.9
Townhomes 3.0
Small Apt. Buildings 30.7
Apt. Complexes 48.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF East Orange HOMES
No Bedroom 6.35
1 Bedroom 31.83
2 Bedrooms 29.18
3 Bedrooms 20.02
4 Bedrooms 5.40
5 or more bedrooms 7.21