Hopewell, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hopewell Neighborhoods Since 2000




Hopewell, 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

Hopewell Housing Market Information

With 1,929 people, 758 houses or apartments, and a median cost of homes of $415,256, real estate costs in Hopewell 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 Hopewell, accounting for 77.06% of the borough's housing units. Other types of housing that are prevalent in Hopewell include duplexes, homes converted to apartments or other small apartment buildings ( 11.86%), row houses and other attached homes ( 9.28%), and a few large apartment complexes or high rise apartments ( 1.80%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hopewell. Owner-occupied housing accounts for 74.54% of Hopewell's homes, and 66.62% have either three or four bedrooms, which is average sized relative to America.

The housing in Hopewell was primarily built before 1939 ( 54.77%), making the housing stock in Hopewell some of the oldest overall in America, although there is a range of ages of homes in Hopewell. The next most important housing age is between 1940-1969 ( 32.35%), followed by between 1970-1999 ( 11.47%). There's also some housing in Hopewell built between 2000 and later ( 1.42%).

Hopewell Home Appreciation Rates

Hopewell's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hopewell during the period has been just -1.07%, which is lower than 70% of US communities.

Over the last year, Hopewell appreciation rates have trailed the rest of the nation. In the last twelve months, Hopewell's appreciation rate has been 2.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hopewell were at -2.58%, which equates to an annual appreciation rate of -9.92%.

Notably, Hopewell's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$415,256

Hopewell, NJ HOME PRICES

Value Range
> $1,057,000 1.0
$793,001 - $1,057,000 0.7
$529,001 - $793,000 19.3
$423,001 - $529,000 26.4
$317,001 - $423,000 36.0
$212,001 - $317,000 13.7
$106,001 - $212,000 2.4
$53,001 - $106,000 0.0
$0 - $53,000 0.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
8.72495019336693 36.9918699186992

Number Of Homes And Apartments:
758

Hopewell 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
46.68% 2.25% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,845 / per month

Homeownership Rate

Homeownership
Owners 74.54
Renters 25.46
Vacant 2.32

Housing Market Details

 

Age of Homes

AGE OF Hopewell HOMES
2000 or Newer 1.4
1970 - 1999 11.5
1940 - 1969 32.3
1939 or Older 54.8

Types of Homes

TYPE OF Hopewell HOMES
Single-Family 77.1
Townhomes 9.3
Small Apt. Buildings 11.9
Apt. Complexes 1.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hopewell HOMES
No Bedroom 0.77
1 Bedroom 6.19
2 Bedrooms 21.52
3 Bedrooms 43.94
4 Bedrooms 22.68
5 or more bedrooms 4.90