Elmer, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Elmer Neighborhoods Since 2000




Elmer, 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

Elmer Housing Market Information

With a population of 1,343, 504 total housing units (homes and apartments), and a median house value of $203,203, 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 71.35% 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 ( 18.60%), row houses and other attached homes ( 6.26%), and a few large apartment complexes or high rise apartments ( 3.80%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elmer. Owner-occupied housing accounts for 68.81% of Elmer's homes, and 65.65% have either three or four bedrooms, which is average sized relative to America.

The housing in Elmer was primarily built before 1939 ( 65.09%), 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 ( 21.06%), followed by between 1970-1999 ( 11.01%). There's also some housing in Elmer built between 2000 and later ( 2.85%).

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 -1.27%, which is lower than 70% of US communities.

Over the last year, Elmer appreciation rates have trailed the rest of the nation. In the last twelve months, Elmer's appreciation rate has been 1.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elmer were at 0.08%, which equates to an annual appreciation rate of 0.32%.

Relative to New Jersey, our data show that Elmer's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$203,203

Elmer, NJ HOME PRICES

Value Range
> $1,039,000 0.0
$779,001 - $1,039,000 0.0
$519,001 - $779,000 0.8
$416,001 - $519,000 0.0
$312,001 - $416,000 3.4
$208,001 - $312,000 42.6
$104,001 - $208,000 49.2
$52,001 - $104,000 1.4
$0 - $52,000 2.5

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
31.5012305168171 84.5528455284553

Number Of Homes And Apartments:
504

Elmer 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
43.01% 2.10% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,376 / per month

Homeownership Rate

Homeownership
Owners 68.81
Renters 31.19
Vacant 4.36

Housing Market Details

 

Age of Homes

AGE OF Elmer HOMES
2000 or Newer 2.8
1970 - 1999 11.0
1940 - 1969 21.1
1939 or Older 65.1

Types of Homes

TYPE OF Elmer HOMES
Single-Family 71.3
Townhomes 6.3
Small Apt. Buildings 18.6
Apt. Complexes 3.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Elmer HOMES
No Bedroom 0.00
1 Bedroom 5.88
2 Bedrooms 24.86
3 Bedrooms 52.56
4 Bedrooms 13.09
5 or more bedrooms 3.61