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 46,070, 24,035 total housing units (homes and apartments), and a median house value of $321,904, Manchester Township real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Manchester Township homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Manchester Township, accounting for 45.37% of the township's housing units. Other types of housing that are prevalent in Manchester Township include row houses and other attached homes ( 22.45%), duplexes, homes converted to apartments or other small apartment buildings ( 17.71%), and a few large apartment complexes or high rise apartments ( 8.04%).
Dwellings in Manchester Township tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 78.96% of the homes in Manchester Township have two or fewer bedrooms.
There is a lot of housing in Manchester Township 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 Manchester Township built between 2000 and later ( 17.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.46%).
Vacant housing appears to be an issue in Manchester Township. Fully 10.25% of the housing stock is classified as vacant. Left unchecked, vacant Manchester Township homes and apartments can be a drag on the real estate market, holding Manchester Township 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.
Appreciation rates for homes in Manchester Township have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.46%, which ranks in the top 30% nationwide. This equates to an annual average Manchester Township house appreciation rate of 7.57%.
NeighborhoodScout's data show that during the latest twelve months, Manchester Township's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Manchester Township's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New Jersey, our data show that Manchester Township's latest annual appreciation rate is lower 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 township. Individual neighborhoods within Manchester Township differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Manchester Township - 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 Manchester Township real estate investment or home purchase decisions.
$321,904
for New jersey
for nation
24,035
$2,887 / per month