Lavallette, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lavallette, 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

Lavallette Housing Market Information

With a population of 1,807, 983 total housing units (homes and apartments), and a median house value of $842,972, Lavallette house prices are not only among the most expensive in New Jersey, Lavallette real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Lavallette, accounting for 70.85% of the borough's housing units. Other types of housing that are prevalent in Lavallette include duplexes, homes converted to apartments or other small apartment buildings ( 18.32%), large apartment complexes or high rise apartments ( 5.27%), and a few row houses and other attached homes ( 5.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lavallette. Owner-occupied housing accounts for 85.96% of Lavallette's homes, and 56.33% 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. Lavallette's housing was primarily built during this period, from the '40s through the '60s. A full 55.09% of the borough's housing hails from this era. Other housing ages represented in Lavallette include homes built between 1970-1999 ( 19.63%) and housing constructed before 1939 ( 14.00%). There's also some housing in Lavallette built between 2000 and later ( 11.29%).

A decent proportion of the Lavallette housing stock is seasonally occupied. That is, homes and condos in Lavallette are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Lavallette housing market speaks to its popularity as a vacation location of choice.

Lavallette Home Appreciation Rates

Appreciation rates for homes in Lavallette have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.42%, which ranks in the top 30% nationwide. This equates to an annual average Lavallette house appreciation rate of 0.90%.

Over the last year, Lavallette appreciation rates have trailed the rest of the nation. In the last twelve months, Lavallette's appreciation rate has been 2.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lavallette were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Lavallette's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$842,972

Lavallette, NJ HOME PRICES

Value Range
> $1,126,000 25.6
$844,001 - $1,126,000 25.0
$563,001 - $844,000 24.8
$450,001 - $563,000 6.2
$338,001 - $450,000 4.7
$225,001 - $338,000 6.7
$113,001 - $225,000 2.7
$57,001 - $113,000 1.1
$0 - $57,000 3.3

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
1.66412750498066 4.8780487804878

Number Of Homes And Apartments:
983

Lavallette 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
107.63% 4.33% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,143 / per month

Homeownership Rate

Homeownership
Owners 85.96
Renters 14.04
Vacant 67.84

Housing Market Details

 

Age of Homes

AGE OF Lavallette HOMES
2000 or Newer 11.3
1970 - 1999 19.6
1940 - 1969 55.1
1939 or Older 14.0

Types of Homes

TYPE OF Lavallette HOMES
Single-Family 70.9
Townhomes 5.1
Small Apt. Buildings 18.3
Apt. Complexes 5.3
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Lavallette HOMES
No Bedroom 0.00
1 Bedroom 4.84
2 Bedrooms 28.75
3 Bedrooms 30.59
4 Bedrooms 25.74
5 or more bedrooms 10.08