Highland Park, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Highland Park Neighborhoods Since 2000




Highland Park, 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

Highland Park Housing Market Information

With 14,347 people, 5,690 houses or apartments, and a median cost of homes of $376,587, real estate costs in Highland Park 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.

Single-family detached homes are the single most common housing type in Highland Park, accounting for 38.01% of the borough's housing units. Other types of housing that are prevalent in Highland Park include duplexes, homes converted to apartments or other small apartment buildings ( 30.23%), large apartment complexes or high rise apartments ( 29.09%), and a few row houses and other attached homes ( 2.66%).

People in Highland Park primarily live in small (one, two or no bedroom) single-family detached homes. 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 40.64% of the borough's housing hails from this era. Other housing ages represented in Highland Park include homes built before 1939 ( 34.55%) and housing constructed between 1970-1999 ( 20.00%). There's also some housing in Highland Park built between 2000 and later ( 4.81%).

Highland Park Home Appreciation Rates

Highland Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Highland Park during the period has been just -1.26%, which is lower than 70% of US communities.

Over the last year, Highland Park appreciation rates have trailed the rest of the nation. In the last twelve months, Highland Park's appreciation rate has been 1.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Highland Park were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$376,587

Highland Park, NJ HOME PRICES

Value Range
> $1,058,000 1.8
$794,001 - $1,058,000 1.2
$529,001 - $794,000 14.8
$423,001 - $529,000 14.3
$318,001 - $423,000 40.2
$212,001 - $318,000 22.2
$106,001 - $212,000 4.2
$53,001 - $106,000 0.4
$0 - $53,000 0.7

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.5531466072893 45.9349593495935

Number Of Homes And Apartments:
5,690

Highland Park 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
57.25% 2.66% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,799 / per month

Homeownership Rate

Homeownership
Owners 41.17
Renters 58.83
Vacant 5.89

Housing Market Details

 

Age of Homes

AGE OF Highland Park HOMES
2000 or Newer 4.8
1970 - 1999 20.0
1940 - 1969 40.6
1939 or Older 34.6

Types of Homes

TYPE OF Highland Park HOMES
Single-Family 38.0
Townhomes 2.7
Small Apt. Buildings 30.2
Apt. Complexes 29.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Highland Park HOMES
No Bedroom 2.81
1 Bedroom 29.94
2 Bedrooms 25.19
3 Bedrooms 26.41
4 Bedrooms 10.09
5 or more bedrooms 5.56