Kearny, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Kearny Neighborhoods Since 2000




Kearny, 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

Kearny Housing Market Information

With a population of 42,137, 13,783 total housing units (homes and apartments), and a median house value of $349,101, 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 47.41% of the town's housing units. Other types of housing that are prevalent in Kearny include single-family detached homes ( 30.05%), large apartment complexes or high rise apartments ( 17.41%), and a few row houses and other attached homes ( 5.07%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

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 ( 42.00%), 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 ( 38.24%), followed by between 1970-1999 ( 16.53%). There's also some housing in Kearny built between 2000 and later ( 3.23%).

Kearny Home Appreciation Rates

Homes have actually lost value in Kearny over the last then years, as home values have seen a decline of 19.99% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Kearny home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

NeighborhoodScout's data show that during the latest twelve months, Kearny's appreciation rate, at 4.75%, has been at or slightly above the national average. In the latest quarter, Kearny's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Kearny's latest annual appreciation rate is higher than 80% 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:
$349,101

Kearny, NJ HOME PRICES

Value Range
> $1,128,000 0.1
$846,001 - $1,128,000 0.3
$564,001 - $846,000 4.1
$451,001 - $564,000 11.6
$338,001 - $451,000 33.1
$226,001 - $338,000 32.6
$113,001 - $226,000 13.3
$56,001 - $113,000 1.5
$0 - $56,000 3.3

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.2641509433962 52.0325203252033

Number Of Homes And Apartments:
13,783

Kearny 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
62.46% 2.85% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,646 / per month

Homeownership Rate

Homeownership
Owners 45.20
Renters 54.80
Vacant 6.29

Housing Market Details

 

Age of Homes

AGE OF Kearny HOMES
2000 or Newer 3.2
1970 - 1999 16.5
1940 - 1969 38.2
1939 or Older 42.0

Types of Homes

TYPE OF Kearny HOMES
Single-Family 30.1
Townhomes 5.1
Small Apt. Buildings 47.4
Apt. Complexes 17.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Kearny HOMES
No Bedroom 2.19
1 Bedroom 15.77
2 Bedrooms 32.68
3 Bedrooms 37.84
4 Bedrooms 8.28
5 or more bedrooms 3.24