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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 9,164 people, 3,637 houses or apartments, and a median cost of homes of $521,398, real estate costs in East Rutherford 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.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in East Rutherford, accounting for 42.82% of the borough's housing units. Other types of housing that are prevalent in East Rutherford include large apartment complexes or high rise apartments ( 30.57%), single-family detached homes ( 20.82%), and a few row houses and other attached homes ( 5.37%). Boroughs with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact boroughs that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in East Rutherford primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. East Rutherford has a mixture of owner-occupied and renter-occupied housing.
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 Rutherford's housing was primarily built during this period, from the '40s through the '60s. A full 39.90% of the borough's housing hails from this era. Other housing ages represented in East Rutherford include homes built before 1939 ( 31.30%) and housing constructed between 1970-1999 ( 22.23%). There's also some housing in East Rutherford built between 2000 and later ( 6.57%).
East Rutherford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in East Rutherford during the period has been just -1.06%, which is lower than 70% of US communities.
Appreciation rates are so strong in East Rutherford that despite a nationwide downturn in the housing market, East Rutherford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Rutherford appreciation rates continue to be some of the highest in America, at 8.51%, which is higher than appreciation rates in 88.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Rutherford. East Rutherford appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.
Relative to New Jersey, our data show that East Rutherford's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.
|$869,001 - $1,158,000||0.0|
|$579,001 - $869,000||20.9|
|$463,001 - $579,000||28.8|
|$348,001 - $463,000||33.5|
|$232,001 - $348,000||14.3|
|$116,001 - $232,000||1.3|
|$58,001 - $116,000||0.4|
|$0 - $58,000||0.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF East Rutherford HOMES|
|2000 or Newer||6.6|
|1970 - 1999||22.2|
|1940 - 1969||39.9|
|1939 or Older||31.3|
|TYPE OF East Rutherford HOMES|
|Small Apt. Buildings||42.8|
|SIZE OF East Rutherford HOMES|
|5 or more bedrooms||3.73|