Lake Hopatcong, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Hopatcong, NJ Real Estate Data


Lake Hopatcong Housing Market Information

With 10,764 people, 2,053 houses or apartments, and a median cost of homes of $380,123, real estate costs in Lake Hopatcong 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 Lake Hopatcong, accounting for 92.64% of the town's housing units. Other types of housing that are prevalent in Lake Hopatcong include large apartment complexes or high rise apartments ( 3.89%), mobile homes or trailers ( 3.05%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Hopatcong. Owner-occupied housing accounts for 89.13% of Lake Hopatcong's homes, and 67.24% 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. Lake Hopatcong's housing was primarily built during this period, from the '40s through the '60s. A full 54.65% of the town's housing hails from this era. Other housing ages represented in Lake Hopatcong include homes built between 2000 and later ( 17.22%) and housing constructed between 1970-1999 ( 16.34%). There's also some housing in Lake Hopatcong built before 1939 ( 11.79%).

Vacant housing appears to be an issue in Lake Hopatcong. Fully 12.77% of the housing stock is classified as vacant. Left unchecked, vacant Lake Hopatcong homes and apartments can be a drag on the real estate market, holding Lake 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.

Lake Hopatcong Home Appreciation Rates

Lake Hopatcong's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lake Hopatcong during the period has been just -2.09%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lake Hopatcong's appreciation rate, at 3.40%, has been at or slightly above the national average. In the latest quarter, Lake Hopatcong's appreciation rate has been 0.63%, which annualizes to a rate of 2.54%.

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

Average Home Values

 

Median Home Value:
$380,123

Lake Hopatcong, NJ HOME PRICES

Value Range
> $1,060,000 0.7
$795,001 - $1,060,000 0.9
$530,001 - $795,000 9.5
$424,001 - $530,000 17.5
$318,001 - $424,000 22.0
$212,001 - $318,000 34.0
$106,001 - $212,000 11.7
$53,001 - $106,000 1.4
$0 - $53,000 1.4

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.2308683932966 44.5121951219512

Number Of Homes And Apartments:
2,053

Rent & Ownership

 

Average Market Rent:
$1,913 / per month

Homeownership Rate

Homeownership
Owners 89.13
Renters 10.87
Vacant 12.77

Housing Market Details

 

Age of Homes

AGE OF Lake Hopatcong HOMES
2000 or Newer 17.2
1970 - 1999 16.3
1940 - 1969 54.6
1939 or Older 11.8

Types of Homes

TYPE OF Lake Hopatcong HOMES
Single-Family 92.6
Townhomes 0.0
Small Apt. Buildings 0.4
Apt. Complexes 3.9
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Lake Hopatcong HOMES
No Bedroom 1.52
1 Bedroom 6.52
2 Bedrooms 21.68
3 Bedrooms 42.91
4 Bedrooms 24.33
5 or more bedrooms 3.05

Lake Hopatcong Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
47.90% 2.29% 4 6
* 10 is highest

Popular Neighborhoods in Lake Hopatcong

Zip Codes in Lake Hopatcong, NJ