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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Forked River, 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Forked River, NJ Housing Market Trends

With 5,274 people, 2,088 houses or apartments, and a median cost of homes of $551,616, real estate costs in Forked River 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 Forked River, accounting for 97.64% of the town's housing units. Other types of housing that are prevalent in Forked River include row houses and other attached homes ( 1.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Forked River. Owner-occupied housing accounts for 87.28% of Forked River's homes, and 77.04% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Forked River 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 Forked River built between 1940-1969 ( 27.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.98%). There's also some housing in Forked River built before 1939 ( 1.81%).

Vacant housing appears to be an issue in Forked River. Fully 23.04% of the housing stock is classified as vacant. Left unchecked, vacant Forked River homes and apartments can be a drag on the real estate market, holding Forked River real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Forked River Home Appreciation Rates

Appreciation rates for homes in Forked River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.08%, which ranks in the top 50% nationwide. This equates to an annual average Forked River house appreciation rate of 6.23%.

NeighborhoodScout's data show that during the latest twelve months, Forked River's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Forked River's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.

Relative to New Jersey, our data show that Forked River's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Forked River differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forked River - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Forked River real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$551,616

Forked River, NJ Home Prices
> $1,410,000
$1,058,001 - $1,410,000
$705,001 - $1,058,000
$564,001 - $705,000
$423,001 - $564,000
$282,001 - $423,000
$141,001 - $282,000
$70,001 - $141,000
$0 - $70,000
3.1%
3.1%
4.1%
4.1%
25.4%
25.4%
10.7%
10.7%
22.2%
22.2%
22.6%
22.6%
4.7%
4.7%
2.3%
2.3%
4.8%
4.8%
0% 100.0%
% of Homes
Average

for New jersey

Very High

for nation

Number of Homes And Apartments:

2,088

Forked River Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,084 / per month

Homeownership Rate

Owners
Renters
87.3%
87.3%
12.7%
12.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
23.0%
23.0%
77.0%
77.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.0%
19.0%
51.7%
51.7%
27.5%
27.5%
1.8%
1.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
97.6%
97.6%
1.8%
1.8%
0.2%
0.2%
0.3%
0.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
3.9%
3.9%
16.0%
16.0%
55.6%
55.6%
21.5%
21.5%
3.1%
3.1%
0% 100.0%
% of Homes