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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Elmer, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Elmer, NJ Housing Market Trends

With 1,358 people, 437 houses or apartments, and a median cost of homes of $273,787, Elmer real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Elmer homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Elmer, accounting for 72.73% of the borough's housing units. Other types of housing that are prevalent in Elmer include duplexes, homes converted to apartments or other small apartment buildings ( 16.74%), row houses and other attached homes ( 8.88%), and a few large apartment complexes or high rise apartments ( 1.03%).

The most prevalent building size and type in Elmer are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 63.16% owning and 36.84% renting.

The housing in Elmer was primarily built before 1939 ( 56.20%), making the housing stock in Elmer some of the oldest overall in America, although there is a range of ages of homes in Elmer. The next most important housing age is between 1940-1969 ( 23.97%), followed by between 1970-1999 ( 11.16%). There's also some housing in Elmer built between 2000 and later ( 8.68%).

Elmer Home Appreciation Rates

Elmer's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elmer during the period has been just 4.77%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Elmer's appreciation rate, at 6.29%, has been at or slightly above the national average. In the latest quarter, Elmer's appreciation rate has been 0.82%, which annualizes to a rate of 3.32%.

Relative to New Jersey, our data show that Elmer's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$273,787

Elmer Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,685 / per month

Homeownership Rate

Owners
Renters
63.2%
63.2%
36.8%
36.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.7%
9.7%
90.3%
90.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.7%
8.7%
11.2%
11.2%
24.0%
24.0%
56.2%
56.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.7%
72.7%
8.9%
8.9%
16.7%
16.7%
1.0%
1.0%
0.6%
0.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.4%
0.4%
4.8%
4.8%
32.4%
32.4%
46.1%
46.1%
15.5%
15.5%
0.8%
0.8%
0% 100.0%
% of Homes