Forked River, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Forked River Neighborhoods Since 2000




Forked River, 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

Forked River Housing Market Information

With 5,352 people, 2,122 houses or apartments, and a median cost of homes of $297,771, Forked River real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Forked River, accounting for 91.43% of the town's housing units. Other types of housing that are prevalent in Forked River include duplexes, homes converted to apartments or other small apartment buildings ( 5.21%), row houses and other attached homes ( 2.40%).

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 86.35% of Forked River's homes, and 53.93% 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 ( 25.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.47%). There's also some housing in Forked River built before 1939 ( 3.07%).

Vacant housing appears to be an issue in Forked River. Fully 21.61% 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

Homes have actually lost value in Forked River over the last then years, as home values have seen a decline of 20.50% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Forked River home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

NeighborhoodScout's data show that during the latest twelve months, Forked River's appreciation rate, at 3.34%, has been at or slightly above the national average. In the latest quarter, Forked River's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$297,771

Forked River, NJ HOME PRICES

Value Range
> $1,053,000 0.2
$790,001 - $1,053,000 1.7
$527,001 - $790,000 12.6
$421,001 - $527,000 10.0
$316,001 - $421,000 24.2
$211,001 - $316,000 24.9
$105,001 - $211,000 22.8
$53,001 - $105,000 0.1
$0 - $53,000 3.6

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
16.4537677253018 63.6178861788618

Number Of Homes And Apartments:
2,122

Forked River 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
58.37% 2.70% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,501 / per month

Homeownership Rate

Homeownership
Owners 86.35
Renters 13.65
Vacant 21.61

Housing Market Details

 

Age of Homes

AGE OF Forked River HOMES
2000 or Newer 5.5
1970 - 1999 66.2
1940 - 1969 25.3
1939 or Older 3.1

Types of Homes

TYPE OF Forked River HOMES
Single-Family 91.4
Townhomes 2.4
Small Apt. Buildings 5.2
Apt. Complexes 1.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Forked River HOMES
No Bedroom 0.00
1 Bedroom 8.31
2 Bedrooms 31.47
3 Bedrooms 37.75
4 Bedrooms 16.18
5 or more bedrooms 6.28