Farmingdale, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Farmingdale Neighborhoods Since 2000




Farmingdale, 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

Farmingdale Housing Market Information

With a population of 1,306, 569 total housing units (homes and apartments), and a median house value of $327,571, 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 56.09% of the borough's housing units. Other types of housing that are prevalent in Farmingdale include large apartment complexes or high rise apartments ( 34.38%), duplexes, homes converted to apartments or other small apartment buildings ( 7.40%), and a few row houses and other attached homes ( 2.14%).

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 42.11% of the borough's housing hails from this era. Other housing ages represented in Farmingdale include homes built between 1970-1999 ( 33.72%) and housing constructed before 1939 ( 18.91%). There's also some housing in Farmingdale built between 2000 and later ( 5.26%).

Farmingdale Home Appreciation Rates

Farmingdale's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Farmingdale during the period has been just -1.26%, which is lower than 70% of US communities.

Appreciation rates are so strong in Farmingdale that despite a nationwide downturn in the housing market, Farmingdale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Farmingdale appreciation rates continue to be some of the highest in America, at 5.94%, which is higher than appreciation rates in 73.53% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Farmingdale. Farmingdale appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$327,571

Farmingdale, NJ HOME PRICES

Value Range
> $1,089,000 0.0
$816,001 - $1,089,000 0.0
$544,001 - $816,000 3.3
$436,001 - $544,000 6.3
$326,001 - $436,000 38.6
$218,001 - $326,000 42.7
$108,001 - $218,000 4.8
$54,001 - $108,000 0.0
$0 - $54,000 4.3

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
13.9224188444861 55.6910569105691

Number Of Homes And Apartments:
569

Farmingdale 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
56.75% 2.64% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,694 / per month

Homeownership Rate

Homeownership
Owners 51.32
Renters 48.68
Vacant 6.41

Housing Market Details

 

Age of Homes

AGE OF Farmingdale HOMES
2000 or Newer 5.3
1970 - 1999 33.7
1940 - 1969 42.1
1939 or Older 18.9

Types of Homes

TYPE OF Farmingdale HOMES
Single-Family 56.1
Townhomes 2.1
Small Apt. Buildings 7.4
Apt. Complexes 34.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Farmingdale HOMES
No Bedroom 2.63
1 Bedroom 26.15
2 Bedrooms 22.37
3 Bedrooms 27.14
4 Bedrooms 16.94
5 or more bedrooms 4.77