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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,827, 754 total housing units (homes and apartments), and a median house value of $679,195, real estate costs in Long Valley 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 Long Valley, accounting for 81.43% of the town's housing units. Other types of housing that are prevalent in Long Valley include mobile homes or trailers ( 9.11%), duplexes, homes converted to apartments or other small apartment buildings ( 4.96%), and a few row houses and other attached homes ( 4.50%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Long Valley. Owner-occupied housing accounts for 88.07% of Long Valley's homes, and 77.85% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Long Valley built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Long Valley built before 1939 ( 26.07%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.26%). There's also some housing in Long Valley built between 2000 and later ( 12.23%).
Vacant housing appears to be an issue in Long Valley. Fully 13.03% of the housing stock is classified as vacant. Left unchecked, vacant Long Valley homes and apartments can be a drag on the real estate market, holding Long Valley 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Long Valley, where house values have increased just 46.94%, which is annualized rate of 3.92%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Long Valley's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Long Valley's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New Jersey, our data show that Long Valley's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.
$679,195
for New jersey
for nation
754
$3,196 / per month