Elmer, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elmer, NJ Real Estate Data


Elmer Housing Market Information

With a population of 1,343, 499 total housing units (homes and apartments), and a median house value of $204,810, 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 70.56% 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 ( 17.41%), row houses and other attached homes ( 8.52%), and a few large apartment complexes or high rise apartments ( 3.52%).

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 69.13% of Elmer's homes, and 67.59% have either three or four bedrooms, which is average sized relative to America.

The housing in Elmer was primarily built before 1939 ( 63.70%), 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 ( 20.00%), followed by between 1970-1999 ( 13.33%). There's also some housing in Elmer built between 2000 and later ( 2.96%).

Elmer Home Appreciation Rates

Real estate appreciation rates in Elmer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.60% during the period.

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 3.68%, 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 1.89%, which equates to an annual appreciation rate of 7.76%.

Relative to New Jersey, our data show that Elmer's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$204,810

Elmer, NJ HOME PRICES

Value Range
> $1,072,000 0.0
$804,001 - $1,072,000 0.0
$536,001 - $804,000 1.1
$429,001 - $536,000 0.0
$322,001 - $429,000 2.9
$214,001 - $322,000 38.5
$107,001 - $214,000 54.2
$54,001 - $107,000 0.6
$0 - $54,000 2.7

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
31.8732798500908 86.7886178861789

Number Of Homes And Apartments:
499

Rent & Ownership

 

Average Market Rent:
$1,302 / per month

Homeownership Rate

Homeownership
Owners 69.13
Renters 30.87
Vacant 7.59

Housing Market Details

 

Age of Homes

AGE OF Elmer HOMES
2000 or Newer 3.0
1970 - 1999 13.3
1940 - 1969 20.0
1939 or Older 63.7

Types of Homes

TYPE OF Elmer HOMES
Single-Family 70.6
Townhomes 8.5
Small Apt. Buildings 17.4
Apt. Complexes 3.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Elmer HOMES
No Bedroom 0.00
1 Bedroom 5.19
2 Bedrooms 23.52
3 Bedrooms 54.63
4 Bedrooms 12.96
5 or more bedrooms 3.70

Elmer Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2016 Q3
52.41% 2.51% 4 6
* 10 is highest