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Medford, NJ Real Estate Market

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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Medford, NJ Housing Market Trends

With a population of 24,461, 8,487 total housing units (homes and apartments), and a median house value of $491,091, real estate costs in Medford 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.

Medford is a township of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Medford than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Medford. Owner-occupied housing accounts for 86.25% of Medford's homes, and 70.60% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Medford 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 Medford built between 1940-1969 ( 17.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.89%). There's also some housing in Medford built before 1939 ( 4.23%).

Medford Home Appreciation Rates

Medford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Medford during the period has been just 3.57%, which is lower than 80% of US communities.

Over the last year, Medford appreciation rates have trailed the rest of the nation. In the last twelve months, Medford's appreciation rate has been 9.67%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Medford were at 3.25%, which equates to an annual appreciation rate of 13.67%.

Notably, Medford's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New Jersey, our data show that Medford's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$491,091

Medford, NJ HOME PRICES

> $1,301,000
$976,001 - $1,301,000
$650,001 - $976,000
$520,001 - $650,000
$390,001 - $520,000
$260,001 - $390,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
1.2%
1.2%
2.0%
2.0%
12.8%
12.8%
23.0%
23.0%
34.4%
34.4%
17.7%
17.7%
6.9%
6.9%
1.4%
1.4%
0.6%
0.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for NJ

Value Relative To Nation

Number Of Homes And Apartments:
8,487

Medford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
93.71% 2.95%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,863 / per month

Homeownership Rate

Owners
Renters
Vacant
86.3%
86.3%
13.7%
13.7%
4.0%
4.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.9%
15.9%
62.2%
62.2%
17.7%
17.7%
4.2%
4.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.5%
77.5%
11.9%
11.9%
1.1%
1.1%
9.5%
9.5%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.4%
1.4%
6.4%
6.4%
12.8%
12.8%
27.5%
27.5%
43.1%
43.1%
8.8%
8.8%
0.0% 100.0%
% OF HOMES