Highland Park, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highland Park, NJ Real Estate Data


Highland Park Housing Market Information

With a population of 14,347, 5,645 total housing units (homes and apartments), and a median house value of $392,162, 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 38.86% 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 ( 30.90%), large apartment complexes or high rise apartments ( 27.18%), and a few row houses and other attached homes ( 3.07%).

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 37.80% of the borough's housing hails from this era. Other housing ages represented in Highland Park include homes built before 1939 ( 36.72%) and housing constructed between 1970-1999 ( 22.14%). There's also some housing in Highland Park built between 2000 and later ( 3.34%).

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 -0.99%, 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 3.78%, 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 1.43%, which equates to an annual appreciation rate of 5.85%.

Relative to New Jersey, our data show that Highland Park's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$392,162

Highland Park, NJ HOME PRICES

Value Range
> $1,083,000 2.1
$812,001 - $1,083,000 0.8
$541,001 - $812,000 18.2
$434,001 - $541,000 12.7
$324,001 - $434,000 38.5
$217,001 - $324,000 19.6
$108,001 - $217,000 5.3
$54,001 - $108,000 0.5
$0 - $54,000 2.2

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.0895941910172 43.0894308943089

Number Of Homes And Apartments:
5,645

Rent & Ownership

 

Average Market Rent:
$1,669 / per month

Homeownership Rate

Homeownership
Owners 41.39
Renters 58.61
Vacant 5.82

Housing Market Details

 

Age of Homes

AGE OF Highland Park HOMES
2000 or Newer 3.3
1970 - 1999 22.1
1940 - 1969 37.8
1939 or Older 36.7

Types of Homes

TYPE OF Highland Park HOMES
Single-Family 38.9
Townhomes 3.1
Small Apt. Buildings 30.9
Apt. Complexes 27.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Highland Park HOMES
No Bedroom 2.44
1 Bedroom 29.70
2 Bedrooms 24.82
3 Bedrooms 25.38
4 Bedrooms 11.91
5 or more bedrooms 5.76

Highland Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
59.37% 2.78% 6 7
* 10 is highest