Farmingdale, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Farmingdale Neighborhoods Since 2000




Farmingdale, NJ Real Estate Data


Farmingdale Housing Market Information

With a population of 1,306, 560 total housing units (homes and apartments), and a median house value of $324,251, real estate costs in Farmingdale are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Farmingdale, accounting for 54.48% of the borough's housing units. Other types of housing that are prevalent in Farmingdale include large apartment complexes or high rise apartments ( 36.04%), duplexes, homes converted to apartments or other small apartment buildings ( 7.61%), and a few row houses and other attached homes ( 1.86%).

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.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Farmingdale's housing was primarily built during this period, from the '40s through the '60s. A full 37.90% of the borough's housing hails from this era. Other housing ages represented in Farmingdale include homes built between 1970-1999 ( 36.38%) and housing constructed before 1939 ( 22.00%). There's also some housing in Farmingdale built between 2000 and later ( 3.72%).

Farmingdale Home Appreciation Rates

Homes have actually lost value in Farmingdale over the last then years, as home values have seen a decline of 19.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Farmingdale home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

Over the last year, Farmingdale appreciation rates have trailed the rest of the nation. In the last twelve months, Farmingdale's appreciation rate has been 2.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Farmingdale were at 1.43%, which equates to an annual appreciation rate of 5.85%.

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

Average Home Values

 

Median Home Value:
$324,251

Farmingdale, NJ HOME PRICES

Value Range
> $1,054,000 0.0
$790,001 - $1,054,000 0.0
$527,001 - $790,000 2.9
$421,001 - $527,000 10.2
$316,001 - $421,000 38.4
$211,001 - $316,000 41.3
$105,001 - $211,000 4.2
$52,001 - $105,000 0.0
$0 - $52,000 2.9

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
14.592727059788 59.349593495935

Number Of Homes And Apartments:
560

Rent & Ownership

 

Average Market Rent:
$1,553 / per month

Homeownership Rate

Homeownership
Owners 50.86
Renters 49.14
Vacant 5.25

Housing Market Details

 

Age of Homes

AGE OF Farmingdale HOMES
2000 or Newer 3.7
1970 - 1999 36.4
1940 - 1969 37.9
1939 or Older 22.0

Types of Homes

TYPE OF Farmingdale HOMES
Single-Family 54.5
Townhomes 1.9
Small Apt. Buildings 7.6
Apt. Complexes 36.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Farmingdale HOMES
No Bedroom 3.05
1 Bedroom 27.58
2 Bedrooms 21.66
3 Bedrooms 28.43
4 Bedrooms 15.06
5 or more bedrooms 4.23

Farmingdale 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
55.34% 2.62% 5 7
* 10 is highest