With 4,239 people, 1,408 houses or apartments, and a median cost of homes of $177,524, Egg Harbor City real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Egg Harbor City homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Egg Harbor City, accounting for 71.65% of the city's housing units. Other types of housing that are prevalent in Egg Harbor City include duplexes, homes converted to apartments or other small apartment buildings ( 19.06%), large apartment complexes or high rise apartments ( 6.39%), and a few row houses and other attached homes ( 2.23%).
The most prevalent building size and type in Egg Harbor City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.20% owning and 38.80% renting.
The housing in Egg Harbor City was primarily built before 1939 ( 44.99%), making the housing stock in Egg Harbor City some of the oldest overall in America, although there is a range of ages of homes in Egg Harbor City. The next most important housing age is between 1940-1969 ( 36.31%), followed by between 1970-1999 ( 14.41%). There's also some housing in Egg Harbor City built between 2000 and later ( 4.28%).
Vacant housing appears to be an issue in Egg Harbor City. Fully 15.08% of the housing stock is classified as vacant. Left unchecked, vacant Egg Harbor City homes and apartments can be a drag on the real estate market, holding Egg Harbor City 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.
Homes have actually lost value in Egg Harbor City over the last then years, as home values have seen a decline of 28.58% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Egg Harbor City home appreciation rates at -2.59%, which equates to an annual appreciation rate of -9.97%.
Appreciation rates are so strong in Egg Harbor City that despite a nationwide downturn in the housing market, Egg Harbor City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Egg Harbor City appreciation rates continue to be some of the highest in America, at 5.74%, which is higher than appreciation rates in 70.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Egg Harbor City. Egg Harbor City appreciation rates in the latest quarter were at -2.59%, which equates to an annual appreciation rate of -9.97%.
Notably, Egg Harbor City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New Jersey, our data show that Egg Harbor City's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.
|$738,001 - $984,000||0.0|
|$492,001 - $738,000||1.9|
|$393,001 - $492,000||0.0|
|$295,001 - $393,000||4.6|
|$197,001 - $295,000||28.4|
|$98,001 - $197,000||53.9|
|$49,001 - $98,000||6.7|
|$0 - $49,000||4.5|
|Value Relative to Nation||Value Relative to State|
|AGE OF Egg Harbor City HOMES|
|2000 or Newer||4.3|
|1970 - 1999||14.4|
|1940 - 1969||36.3|
|1939 or Older||45.0|
|TYPE OF Egg Harbor City HOMES|
|Small Apt. Buildings||19.1|
|SIZE OF Egg Harbor City HOMES|
|5 or more bedrooms||2.65|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|