Harrison, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Harrison Neighborhoods Since 2000




Harrison, 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

Harrison Housing Market Information

With a population of 15,474, 5,203 total housing units (homes and apartments), and a median house value of $340,843, real estate costs in Harrison 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.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Harrison, accounting for 61.53% of the town's housing units. Other types of housing that are prevalent in Harrison include large apartment complexes or high rise apartments ( 24.63%), single-family detached homes ( 9.54%), and a few row houses and other attached homes ( 4.24%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

Harrison is dominated by renter-occupied one, two, or no bedrooms apartments. 70.67% of Harrison's dwellings are rentals.

There is a lot of housing in Harrison 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 Harrison built between 1940-1969 ( 25.76%). A lesser amount of the housing stock also hails from before 1939 ( 23.83%). There's also some housing in Harrison built between 2000 and later ( 16.31%).

Harrison Home Appreciation Rates

Real estate appreciation rates in Harrison's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.18% during the period.

NeighborhoodScout's data show that during the latest twelve months, Harrison's appreciation rate, at 4.81%, has been at or slightly above the national average. In the latest quarter, Harrison's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Harrison's latest annual appreciation rate is higher than 80% 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 Harrison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harrison - 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 Harrison real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$340,843

Harrison, NJ HOME PRICES

Value Range
> $1,127,000 1.3
$845,001 - $1,127,000 0.0
$563,001 - $845,000 11.0
$451,001 - $563,000 9.0
$338,001 - $451,000 31.2
$225,001 - $338,000 28.0
$113,001 - $225,000 14.9
$56,001 - $113,000 1.3
$0 - $56,000 3.2

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.8383921246924 53.8617886178862

Number Of Homes And Apartments:
5,203

Harrison 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
109.28% 4.37% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,652 / per month

Homeownership Rate

Homeownership
Owners 29.33
Renters 70.67
Vacant 5.62

Housing Market Details

 

Age of Homes

AGE OF Harrison HOMES
2000 or Newer 16.3
1970 - 1999 34.1
1940 - 1969 25.8
1939 or Older 23.8

Types of Homes

TYPE OF Harrison HOMES
Single-Family 9.5
Townhomes 4.2
Small Apt. Buildings 61.5
Apt. Complexes 24.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Harrison HOMES
No Bedroom 3.48
1 Bedroom 17.20
2 Bedrooms 43.44
3 Bedrooms 29.95
4 Bedrooms 4.21
5 or more bedrooms 1.72