Hillsborough, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Hillsborough Neighborhoods Since 2000




Hillsborough, 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

Hillsborough Housing Market Information

With a population of 39,821, 1,843 total housing units (homes and apartments), and a median house value of $475,291, real estate costs in Hillsborough 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 Hillsborough, accounting for 64.30% of the town's housing units. Other types of housing that are prevalent in Hillsborough include row houses and other attached homes ( 23.83%), large apartment complexes or high rise apartments ( 9.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.63%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hillsborough. Owner-occupied housing accounts for 86.92% of Hillsborough's homes, and 65.40% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hillsborough 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 Hillsborough built between 1940-1969 ( 16.77%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.07%). There's also some housing in Hillsborough built before 1939 ( 3.16%).

Hillsborough Home Appreciation Rates

Real estate appreciation rates in Hillsborough's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.60% during the period.

NeighborhoodScout's data show that during the latest twelve months, Hillsborough's appreciation rate, at 3.60%, has been at or slightly above the national average. In the latest quarter, Hillsborough's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Hillsborough's latest annual appreciation rate is higher than 60% 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 Hillsborough differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hillsborough - 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 Hillsborough real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$475,291

Hillsborough, NJ HOME PRICES

Value Range
> $1,094,000 0.6
$820,001 - $1,094,000 3.9
$547,001 - $820,000 22.7
$437,001 - $547,000 21.0
$328,001 - $437,000 18.4
$219,001 - $328,000 26.4
$109,001 - $219,000 5.2
$55,001 - $109,000 0.4
$0 - $55,000 1.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
6.61549279268721 28.6585365853659

Number Of Homes And Apartments:
1,843

Hillsborough 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
56.01% 2.61% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,937 / per month

Homeownership Rate

Homeownership
Owners 86.92
Renters 13.08
Vacant 4.88

Housing Market Details

 

Age of Homes

AGE OF Hillsborough HOMES
2000 or Newer 11.1
1970 - 1999 69.0
1940 - 1969 16.8
1939 or Older 3.2

Types of Homes

TYPE OF Hillsborough HOMES
Single-Family 64.3
Townhomes 23.8
Small Apt. Buildings 2.6
Apt. Complexes 9.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hillsborough HOMES
No Bedroom 0.36
1 Bedroom 7.25
2 Bedrooms 21.41
3 Bedrooms 29.61
4 Bedrooms 35.80
5 or more bedrooms 5.59