Margate City, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Margate City, NJ Real Estate Data


Margate City Housing Market Information

With a population of 6,237, 3,272 total housing units (homes and apartments), and a median house value of $555,775, 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 61.94% of the city's housing units. Other types of housing that are prevalent in Margate City include large apartment complexes or high rise apartments ( 18.43%), duplexes, homes converted to apartments or other small apartment buildings ( 13.06%), and a few row houses and other attached homes ( 5.40%).

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 76.13% of Margate City's homes, and 53.74% 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 47.96% of the city's housing hails from this era. Other housing ages represented in Margate City include homes built between 1970-1999 ( 25.47%) and housing constructed before 1939 ( 18.10%). There's also some housing in Margate City built between 2000 and later ( 8.46%).

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.

Margate City Home Appreciation Rates

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 -0.14% during the period.

NeighborhoodScout's data show that during the latest twelve months, Margate City's appreciation rate, at 4.70%, has been at or slightly above the national average. In the latest quarter, Margate City's appreciation rate has been -2.59%, which annualizes to a rate of -9.97%.

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 higher than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$555,775

Margate City, NJ HOME PRICES

Value Range
> $1,059,000 10.3
$795,001 - $1,059,000 10.8
$530,001 - $795,000 25.8
$424,001 - $530,000 19.4
$318,001 - $424,000 16.2
$212,001 - $318,000 8.9
$106,001 - $212,000 3.7
$53,001 - $106,000 0.9
$0 - $53,000 3.9

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
4.94232007963928 21.5447154471545

Number Of Homes And Apartments:
3,272

Rent & Ownership

 

Average Market Rent:
$1,332 / per month

Homeownership Rate

Homeownership
Owners 76.13
Renters 23.87
Vacant 55.12

Housing Market Details

 

Age of Homes

AGE OF Margate City HOMES
2000 or Newer 8.5
1970 - 1999 25.5
1940 - 1969 48.0
1939 or Older 18.1

Types of Homes

TYPE OF Margate City HOMES
Single-Family 61.9
Townhomes 5.4
Small Apt. Buildings 13.1
Apt. Complexes 18.4
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Margate City HOMES
No Bedroom 4.10
1 Bedroom 10.73
2 Bedrooms 23.65
3 Bedrooms 30.82
4 Bedrooms 22.92
5 or more bedrooms 7.79

Margate City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
114.15% 4.58% 10 10
* 10 is highest