Gloucester City, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Gloucester City Neighborhoods Since 2000




Gloucester City, 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

Gloucester City Housing Market Information

With 11,329 people, 4,025 houses or apartments, and a median cost of homes of $85,302, house prices in Gloucester City are some of the most affordable in New Jersey as well as the nation.

Single-family detached homes are the single most common housing type in Gloucester City, accounting for 42.24% of the city's housing units. Other types of housing that are prevalent in Gloucester City include row houses and other attached homes ( 35.99%), duplexes, homes converted to apartments or other small apartment buildings ( 8.95%), and a few large apartment complexes or high rise apartments ( 7.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gloucester City. Owner-occupied housing accounts for 66.50% of Gloucester City's homes, and 59.18% have either three or four bedrooms, which is average sized relative to America.

The housing in Gloucester City was primarily built before 1939 ( 42.86%), making the housing stock in Gloucester City some of the oldest overall in America, although there is a range of ages of homes in Gloucester City. The next most important housing age is between 1940-1969 ( 39.09%), followed by between 1970-1999 ( 15.42%). There's also some housing in Gloucester City built between 2000 and later ( 2.64%).

Vacant housing appears to be an issue in Gloucester City. Fully 10.85% of the housing stock is classified as vacant. Left unchecked, vacant Gloucester City homes and apartments can be a drag on the real estate market, holding Gloucester City 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.

Gloucester City Home Appreciation Rates

Homes have actually lost value in Gloucester City over the last then years, as home values have seen a decline of 32.72% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Gloucester City home appreciation rates at 0.08%, which equates to an annual appreciation rate of 0.32%.

Over the last year, Gloucester City appreciation rates have trailed the rest of the nation. In the last twelve months, Gloucester City's appreciation rate has been 1.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gloucester City were at 0.08%, which equates to an annual appreciation rate of 0.32%.

Relative to New Jersey, our data show that Gloucester City's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$85,302

Gloucester City, NJ HOME PRICES

Value Range
> $930,000 0.4
$698,001 - $930,000 0.4
$466,001 - $698,000 0.3
$372,001 - $466,000 0.9
$279,001 - $372,000 0.6
$186,001 - $279,000 9.3
$93,001 - $186,000 44.1
$47,001 - $93,000 33.0
$0 - $47,000 11.0

Very Low for NJ
Very Low for Nation

Value Relative to Nation Value Relative to State
87.231923121997 99.5934959349594

Number Of Homes And Apartments:
4,025

Gloucester City 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
21.27% 1.12% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,365 / per month

Homeownership Rate

Homeownership
Owners 66.50
Renters 33.50
Vacant 10.85

Housing Market Details

 

Age of Homes

AGE OF Gloucester City HOMES
2000 or Newer 2.6
1970 - 1999 15.4
1940 - 1969 39.1
1939 or Older 42.9

Types of Homes

TYPE OF Gloucester City HOMES
Single-Family 42.2
Townhomes 36.0
Small Apt. Buildings 8.9
Apt. Complexes 7.4
Mobile Homes 5.4
Other 0.0

Home Size

SIZE OF Gloucester City HOMES
No Bedroom 0.93
1 Bedroom 11.98
2 Bedrooms 22.33
3 Bedrooms 44.30
4 Bedrooms 14.88
5 or more bedrooms 5.58