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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Gloucester City HOMES|
|2000 or Newer||2.6|
|1970 - 1999||15.4|
|1940 - 1969||39.1|
|1939 or Older||42.9|
|TYPE OF Gloucester City HOMES|
|Small Apt. Buildings||8.9|
|SIZE OF Gloucester City HOMES|
|5 or more bedrooms||5.58|