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 about Scout's Real Estate Data
With a population of 14,988, 6,547 total housing units (homes and apartments), and a median house value of $482,992, Highland Park 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 Highland Park, accounting for 33.00% of the borough's housing units. Other types of housing that are prevalent in Highland Park include single-family detached homes ( 31.65%), duplexes, homes converted to apartments or other small apartment buildings ( 27.77%), and a few row houses and other attached homes ( 7.58%). This particular housing mix is relatively uncommon and characteristic of boroughs that are compact and walkable, and which often have a lively downtown.
People in Highland Park primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Highland Park 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. Highland Park's housing was primarily built during this period, from the '40s through the '60s. A full 30.97% of the borough's housing hails from this era. Other housing ages represented in Highland Park include homes built between 1970-1999 ( 29.70%) and housing constructed before 1939 ( 28.49%). There's also some housing in Highland Park built between 2000 and later ( 10.83%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Highland Park, where house values have increased just 43.85%, which is annualized rate of 3.70%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Highland Park's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Highland Park's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New Jersey, our data show that Highland Park's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.
$482,992
for New jersey
for nation
6,547
$3,246 / per month