Kearny, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Kearny Neighborhoods Since 2000




Kearny, NJ Real Estate Data


Kearny Housing Market Information

With 42,137 people, 13,691 houses or apartments, and a median cost of homes of $334,560, real estate costs in Kearny 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.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Kearny, accounting for 48.30% of the town's housing units. Other types of housing that are prevalent in Kearny include single-family detached homes ( 28.76%), large apartment complexes or high rise apartments ( 17.88%), and a few row houses and other attached homes ( 4.99%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Kearny primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Kearny has a mixture of owner-occupied and renter-occupied housing.

The housing in Kearny was primarily built before 1939 ( 41.36%), making the housing stock in Kearny some of the oldest overall in America, although there is a range of ages of homes in Kearny. The next most important housing age is between 1940-1969 ( 37.18%), followed by between 1970-1999 ( 18.37%). There's also some housing in Kearny built between 2000 and later ( 3.10%).

Kearny Home Appreciation Rates

Homes have actually lost value in Kearny over the last then years, as home values have seen a decline of 19.18% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Kearny home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

NeighborhoodScout's data show that during the latest twelve months, Kearny's appreciation rate, at 4.49%, has been at or slightly above the national average. In the latest quarter, Kearny's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to New Jersey, our data show that Kearny's latest annual appreciation rate is higher than 70% 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 Kearny differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kearny - 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 Kearny real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$334,560

Kearny, NJ HOME PRICES

Value Range
> $1,105,000 0.1
$829,001 - $1,105,000 0.2
$553,001 - $829,000 5.0
$442,001 - $553,000 13.7
$331,001 - $442,000 31.4
$221,001 - $331,000 32.9
$111,001 - $221,000 12.1
$55,001 - $111,000 1.6
$0 - $55,000 3.0

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
13.7143526380512 55.8943089430894

Number Of Homes And Apartments:
13,691

Rent & Ownership

 

Average Market Rent:
$1,294 / per month

Homeownership Rate

Homeownership
Owners 44.77
Renters 55.23
Vacant 5.79

Housing Market Details

 

Age of Homes

AGE OF Kearny HOMES
2000 or Newer 3.1
1970 - 1999 18.4
1940 - 1969 37.2
1939 or Older 41.4

Types of Homes

TYPE OF Kearny HOMES
Single-Family 28.8
Townhomes 5.0
Small Apt. Buildings 48.3
Apt. Complexes 17.9
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Kearny HOMES
No Bedroom 2.81
1 Bedroom 16.03
2 Bedrooms 31.87
3 Bedrooms 37.96
4 Bedrooms 8.02
5 or more bedrooms 3.32

Kearny 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
61.36% 2.85% 6 8
* 10 is highest