Hopatcong, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hopatcong Neighborhoods Since 2000




Hopatcong, 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

Hopatcong Housing Market Information

With 14,510 people, 5,592 houses or apartments, and a median cost of homes of $267,711, Hopatcong real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hopatcong, accounting for 94.64% of the borough's housing units. Other types of housing that are prevalent in Hopatcong include duplexes, homes converted to apartments or other small apartment buildings ( 2.65%), large apartment complexes or high rise apartments ( 1.50%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hopatcong. Owner-occupied housing accounts for 88.41% of Hopatcong's homes, and 61.55% have either three or four bedrooms, which is average sized relative to America.

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. Hopatcong's housing was primarily built during this period, from the '40s through the '60s. A full 51.29% of the borough's housing hails from this era. Other housing ages represented in Hopatcong include homes built between 1970-1999 ( 37.78%) and housing constructed before 1939 ( 8.65%). There's also some housing in Hopatcong built between 2000 and later ( 2.27%).

Vacant housing appears to be an issue in Hopatcong. Fully 12.34% of the housing stock is classified as vacant. Left unchecked, vacant Hopatcong homes and apartments can be a drag on the real estate market, holding Hopatcong real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hopatcong Home Appreciation Rates

Homes have actually lost value in Hopatcong over the last then years, as home values have seen a decline of 27.46% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hopatcong home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Hopatcong appreciation rates have trailed the rest of the nation. In the last twelve months, Hopatcong's appreciation rate has been 2.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hopatcong were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$267,711

Hopatcong, NJ HOME PRICES

Value Range
> $1,015,000 0.7
$761,001 - $1,015,000 0.7
$508,001 - $761,000 3.8
$406,001 - $508,000 4.9
$304,001 - $406,000 14.2
$203,001 - $304,000 47.0
$102,001 - $203,000 26.3
$51,001 - $102,000 1.2
$0 - $51,000 1.2

Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
20.0808625336927 73.3739837398374

Number Of Homes And Apartments:
5,592

Hopatcong 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
34.07% 1.71% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,853 / per month

Homeownership Rate

Homeownership
Owners 88.41
Renters 11.59
Vacant 12.34

Housing Market Details

 

Age of Homes

AGE OF Hopatcong HOMES
2000 or Newer 2.3
1970 - 1999 37.8
1940 - 1969 51.3
1939 or Older 8.7

Types of Homes

TYPE OF Hopatcong HOMES
Single-Family 94.6
Townhomes 0.5
Small Apt. Buildings 2.6
Apt. Complexes 1.5
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Hopatcong HOMES
No Bedroom 0.39
1 Bedroom 4.73
2 Bedrooms 30.99
3 Bedrooms 40.98
4 Bedrooms 20.57
5 or more bedrooms 2.34