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
With a population of 6,237, 3,285 total housing units (homes and apartments), and a median house value of $465,418, real estate costs in Margate City 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 Margate City, accounting for 60.65% of the city's housing units. Other types of housing that are prevalent in Margate City include large apartment complexes or high rise apartments ( 20.44%), duplexes, homes converted to apartments or other small apartment buildings ( 12.39%), and a few row houses and other attached homes ( 5.39%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Margate City. Owner-occupied housing accounts for 75.06% of Margate City's homes, and 53.35% 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. Margate City's housing was primarily built during this period, from the '40s through the '60s. A full 47.85% of the city's housing hails from this era. Other housing ages represented in Margate City include homes built between 1970-1999 ( 25.48%) and housing constructed before 1939 ( 16.22%). There's also some housing in Margate City built between 2000 and later ( 10.45%).
A decent proportion of the Margate City housing stock is seasonally occupied. That is, homes and condos in Margate City 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 Margate City housing market speaks to its popularity as a vacation location of choice.
Real estate appreciation rates in Margate City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.72% during the period.
Over the last year, Margate City appreciation rates have trailed the rest of the nation. In the last twelve months, Margate City's appreciation rate has been -3.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Margate City were at -5.44%, which equates to an annual appreciation rate of -20.04%.
Notably, Margate City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New Jersey, our data show that Margate City's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.
|$753,001 - $1,003,000||10.0|
|$502,001 - $753,000||22.6|
|$401,001 - $502,000||19.8|
|$301,001 - $401,000||16.6|
|$200,001 - $301,000||12.4|
|$100,001 - $200,000||5.1|
|$50,001 - $100,000||0.9|
|$0 - $50,000||3.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Margate City HOMES|
|2000 or Newer||10.4|
|1970 - 1999||25.5|
|1940 - 1969||47.9|
|1939 or Older||16.2|
|TYPE OF Margate City HOMES|
|Small Apt. Buildings||12.4|
|SIZE OF Margate City HOMES|
|5 or more bedrooms||8.12|