Hackensack, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hackensack Neighborhoods Since 2000




Hackensack, 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

Hackensack Housing Market Information

With 44,834 people, 18,169 houses or apartments, and a median cost of homes of $289,458, Hackensack real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Hackensack, accounting for 56.55% of the city's housing units. Other types of housing that are prevalent in Hackensack include duplexes, homes converted to apartments or other small apartment buildings ( 21.17%), single-family detached homes ( 18.67%), and a few row houses and other attached homes ( 3.05%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Hackensack primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Hackensack 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. Hackensack's housing was primarily built during this period, from the '40s through the '60s. A full 41.39% of the city's housing hails from this era. Other housing ages represented in Hackensack include homes built between 1970-1999 ( 34.53%) and housing constructed before 1939 ( 19.51%). There's also some housing in Hackensack built between 2000 and later ( 4.58%).

Hackensack Home Appreciation Rates

Homes have actually lost value in Hackensack over the last then years, as home values have seen a decline of 22.60% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hackensack home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Hackensack appreciation rates have trailed the rest of the nation. In the last twelve months, Hackensack's appreciation rate has been 2.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hackensack were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Hackensack's latest annual appreciation rate is higher than 50% 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 city. Individual neighborhoods within Hackensack differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hackensack - 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 Hackensack real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$289,458

Hackensack, NJ HOME PRICES

Value Range
> $1,082,000 1.0
$812,001 - $1,082,000 0.6
$541,001 - $812,000 2.8
$433,001 - $541,000 7.7
$325,001 - $433,000 28.8
$216,001 - $325,000 31.6
$108,001 - $216,000 22.0
$54,001 - $108,000 3.3
$0 - $54,000 2.3

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
17.367865932263 67.8861788617886

Number Of Homes And Apartments:
18,169

Hackensack 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
49.73% 2.37% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,771 / per month

Homeownership Rate

Homeownership
Owners 35.14
Renters 64.86
Vacant 7.40

Housing Market Details

 

Age of Homes

AGE OF Hackensack HOMES
2000 or Newer 4.6
1970 - 1999 34.5
1940 - 1969 41.4
1939 or Older 19.5

Types of Homes

TYPE OF Hackensack HOMES
Single-Family 18.7
Townhomes 3.1
Small Apt. Buildings 21.2
Apt. Complexes 56.6
Mobile Homes 0.3
Other 0.3

Home Size

SIZE OF Hackensack HOMES
No Bedroom 4.45
1 Bedroom 38.76
2 Bedrooms 33.56
3 Bedrooms 16.37
4 Bedrooms 5.20
5 or more bedrooms 1.66