East Orange, NJ Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

East Orange, NJ Housing Market Trends

With a population of 64,367, 23,521 total housing units (homes and apartments), and a median house value of $272,875, East Orange real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in East Orange, accounting for 49.31% 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 ( 29.53%), single-family detached homes ( 17.15%), and a few row houses and other attached homes ( 3.95%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

East Orange is dominated by renter-occupied one, two, or no bedrooms apartments. 74.84% 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 37.47% of the city's housing hails from this era. Other housing ages represented in East Orange include homes built before 1939 ( 31.95%) and housing constructed between 1970-1999 ( 25.79%). There's also some housing in East Orange built between 2000 and later ( 4.79%).

Vacant housing appears to be an issue in East Orange. Fully 15.01% 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

East Orange's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in East Orange during the period has been just 1.77%, which is lower than 70% of US communities.

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 4.47%, 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 2.06%, which equates to an annual appreciation rate of 8.50%.

Relative to New Jersey, our data show that East Orange's latest annual appreciation rate is higher than 60% 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:
$272,875

East Orange, NJ HOME PRICES

> $1,269,000
0.7%
0.7%
$951,001 - $1,269,000
0.5%
0.5%
$635,001 - $951,000
2.1%
2.1%
$508,001 - $635,000
3.1%
3.1%
$381,001 - $508,000
10.8%
10.8%
$254,001 - $381,000
37.7%
37.7%
$127,001 - $254,000
36.1%
36.1%
$63,001 - $127,000
5.0%
5.0%
$0 - $63,000
4.1%
4.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
23,521

East Orange Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
86.01% 3.00%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,833 / per month

Homeownership Rate

Owners
25.2%
25.2%
Renters
74.8%
74.8%
Vacant
15.0%
15.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.8%
4.8%
1970 - 1999
25.8%
25.8%
1940 - 1969
37.5%
37.5%
1939 or Older
31.9%
31.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
17.1%
17.1%
Townhomes
3.9%
3.9%
Small Apt. Buildings
29.5%
29.5%
Apt. Complexes
49.3%
49.3%
Mobile Homes
0.0%
0.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
10.2%
10.2%
1 Bedroom
29.7%
29.7%
2 Bedrooms
28.2%
28.2%
3 Bedrooms
18.7%
18.7%
4 Bedrooms
7.4%
7.4%
5 or more bedrooms
5.8%
5.8%
0.0% 100.0%
% OF HOMES