East Rutherford, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating East Rutherford Neighborhoods Since 2000




East Rutherford, 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 Rutherford Housing Market Information

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 Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$521,398

East Rutherford, NJ HOME PRICES

Value Range
> $1,158,000 0.3
$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

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
5.36153756006094 23.3739837398374

Number Of Homes And Apartments:
3,637

East Rutherford 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
60.86% 2.79% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,946 / per month

Homeownership Rate

Homeownership
Owners 39.94
Renters 60.06
Vacant 5.21

Housing Market Details

 

Age of Homes

AGE OF East Rutherford HOMES
2000 or Newer 6.6
1970 - 1999 22.2
1940 - 1969 39.9
1939 or Older 31.3

Types of Homes

TYPE OF East Rutherford HOMES
Single-Family 20.8
Townhomes 5.4
Small Apt. Buildings 42.8
Apt. Complexes 30.6
Mobile Homes 0.0
Other 0.4

Home Size

SIZE OF East Rutherford HOMES
No Bedroom 7.95
1 Bedroom 23.51
2 Bedrooms 30.68
3 Bedrooms 25.85
4 Bedrooms 8.29
5 or more bedrooms 3.73

Popular Neighborhoods in East Rutherford

Zip Codes in East Rutherford, NJ