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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 23,421 people, 2,180 houses or apartments, and a median cost of homes of $111,767, house prices in Medford are some of the most affordable in New Jersey as well as the nation.

Medford is a town 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 85.71% of Medford's homes, and 71.15% 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 ( 18.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.98%). There's also some housing in Medford built before 1939 ( 4.32%).

Medford Home Appreciation Rates

In the last 10 years, Medford has experienced some of the highest home appreciation rates of any community in the nation. Medford real estate appreciated 77.49% over the last ten years, which is an average annual home appreciation rate of 5.90%, putting Medford in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Medford definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Medford that despite a nationwide downturn in the housing market, Medford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Medford appreciation rates continue to be some of the highest in America, at 10.89%, which is higher than appreciation rates in 75.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Medford. Medford appreciation rates in the latest quarter were at 3.41%, which equates to an annual appreciation rate of 14.37%.

Relative to New Jersey, our data show that Medford's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$111,767

Medford, NJ HOME PRICES

> $1,243,000
1.0%
1.0%
$932,001 - $1,243,000
0.2%
0.2%
$622,001 - $932,000
3.6%
3.6%
$497,001 - $622,000
0.8%
0.8%
$373,001 - $497,000
4.8%
4.8%
$249,001 - $373,000
9.8%
9.8%
$124,001 - $249,000
34.4%
34.4%
$62,001 - $124,000
36.0%
36.0%
$0 - $62,000
9.4%
9.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
2,180

Medford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
98.56% 3.24%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$902 / per month

Homeownership Rate

Owners
85.7%
85.7%
Renters
14.3%
14.3%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
12.0%
12.0%
1970 - 1999
65.1%
65.1%
1940 - 1969
18.6%
18.6%
1939 or Older
4.3%
4.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
78.1%
78.1%
Townhomes
11.3%
11.3%
Small Apt. Buildings
1.8%
1.8%
Apt. Complexes
8.9%
8.9%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.1%
1.1%
1 Bedroom
6.1%
6.1%
2 Bedrooms
12.9%
12.9%
3 Bedrooms
26.1%
26.1%
4 Bedrooms
45.1%
45.1%
5 or more bedrooms
8.8%
8.8%
0.0% 100.0%
% OF HOMES