Farmingdale, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Farmingdale, NJ Housing Market Trends

With a population of 1,354, 551 total housing units (homes and apartments), and a median house value of $356,709, Farmingdale real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Farmingdale, accounting for 53.48% of the borough's housing units. Other types of housing that are prevalent in Farmingdale include large apartment complexes or high rise apartments ( 28.18%), duplexes, homes converted to apartments or other small apartment buildings ( 16.64%), and a few row houses and other attached homes ( 1.70%).

People in Farmingdale primarily live in small (one, two or no bedroom) single-family detached homes. Farmingdale has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Farmingdale built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Farmingdale built between 1940-1969 ( 32.26%). A lesser amount of the housing stock also hails from before 1939 ( 23.26%). There's also some housing in Farmingdale built between 2000 and later ( 6.96%).

Farmingdale Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Farmingdale, where house values have increased just 17.28%, which is annualized rate of 1.61%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Farmingdale's appreciation rate, at 10.13%, has been at or slightly above the national average. In the latest quarter, Farmingdale's appreciation rate has been 3.19%, which annualizes to a rate of 13.38%.

Relative to New Jersey, our data show that Farmingdale's latest annual appreciation rate is higher than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$356,709

Farmingdale, NJ HOME PRICES

> $1,146,000
0.0%
0.0%
$859,001 - $1,146,000
0.3%
0.3%
$573,001 - $859,000
11.4%
11.4%
$458,001 - $573,000
12.9%
12.9%
$344,001 - $458,000
23.3%
23.3%
$229,001 - $344,000
41.0%
41.0%
$114,001 - $229,000
8.3%
8.3%
$57,001 - $114,000
0.0%
0.0%
$0 - $57,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
551

Farmingdale Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
72.98% 2.58%
3
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,160 / per month

Homeownership Rate

Owners
49.9%
49.9%
Renters
50.1%
50.1%
Vacant
6.5%
6.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.0%
7.0%
1970 - 1999
37.5%
37.5%
1940 - 1969
32.3%
32.3%
1939 or Older
23.3%
23.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
53.5%
53.5%
Townhomes
1.7%
1.7%
Small Apt. Buildings
16.6%
16.6%
Apt. Complexes
28.2%
28.2%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
7.3%
7.3%
1 Bedroom
22.1%
22.1%
2 Bedrooms
21.6%
21.6%
3 Bedrooms
26.1%
26.1%
4 Bedrooms
20.0%
20.0%
5 or more bedrooms
2.9%
2.9%
0.0% 100.0%
% OF HOMES