Mendham, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Mendham Neighborhoods Since 2000




Mendham, NJ Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Mendham Housing Market Information

With a population of 5,001, 1,694 total housing units (homes and apartments), and a median house value of $666,950, Mendham house prices are not only among the most expensive in New Jersey, Mendham real estate also is some of the most expensive in all of America.

Mendham is a borough of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Mendham 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 Mendham. Owner-occupied housing accounts for 81.61% of Mendham's homes, and 63.67% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mendham 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 Mendham built between 1940-1969 ( 30.11%). A lesser amount of the housing stock also hails from before 1939 ( 12.67%). There's also some housing in Mendham built between 2000 and later ( 4.03%).

Mendham Home Appreciation Rates

Mendham's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mendham during the period has been just -1.36%, which is lower than 80% of US communities.

Over the last year, Mendham appreciation rates have trailed the rest of the nation. In the last twelve months, Mendham's appreciation rate has been -0.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mendham were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$666,950

Mendham, NJ HOME PRICES

Value Range
> $1,027,000 15.6
$770,001 - $1,027,000 14.1
$513,001 - $770,000 39.0
$411,001 - $513,000 13.5
$308,001 - $411,000 14.1
$206,001 - $308,000 1.8
$103,001 - $206,000 0.8
$51,001 - $103,000 0.4
$0 - $51,000 0.6

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
2.97667877651471 11.7886178861789

Number Of Homes And Apartments:
1,694

Mendham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
40.27% 1.98% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,728 / per month

Homeownership Rate

Homeownership
Owners 81.61
Renters 18.39
Vacant 2.48

Housing Market Details

 

Age of Homes

AGE OF Mendham HOMES
2000 or Newer 4.0
1970 - 1999 53.2
1940 - 1969 30.1
1939 or Older 12.7

Types of Homes

TYPE OF Mendham HOMES
Single-Family 76.1
Townhomes 15.6
Small Apt. Buildings 6.8
Apt. Complexes 1.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Mendham HOMES
No Bedroom 0.00
1 Bedroom 5.07
2 Bedrooms 16.35
3 Bedrooms 22.34
4 Bedrooms 41.34
5 or more bedrooms 14.91