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 3,778, 1,466 total housing units (homes and apartments), and a median house value of $234,142, Merchantville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Merchantville, accounting for 48.08% of the borough's housing units. Other types of housing that are prevalent in Merchantville include duplexes, homes converted to apartments or other small apartment buildings ( 28.03%), large apartment complexes or high rise apartments ( 12.18%), and a few row houses and other attached homes ( 11.70%).
The most prevalent building size and type in Merchantville are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 59.21% owning and 40.79% renting.
The housing in Merchantville was primarily built before 1939 ( 50.72%), making the housing stock in Merchantville some of the oldest overall in America, although there is a range of ages of homes in Merchantville. The next most important housing age is between 1940-1969 ( 30.79%), followed by between 1970-1999 ( 9.66%). There's also some housing in Merchantville built between 2000 and later ( 8.82%).
Vacant housing appears to be an issue in Merchantville. Fully 12.00% of the housing stock is classified as vacant. Left unchecked, vacant Merchantville homes and apartments can be a drag on the real estate market, holding Merchantville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Homes have actually lost value in Merchantville over the last then years, as home values have seen a decline of 22.63% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Merchantville home appreciation rates at 0.08%, which equates to an annual appreciation rate of 0.32%.
NeighborhoodScout's data show that during the latest twelve months, Merchantville's appreciation rate, at 4.77%, has been at or slightly above the national average. In the latest quarter, Merchantville's appreciation rate has been 0.08%, which annualizes to a rate of 0.32%.
Relative to New Jersey, our data show that Merchantville's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.
One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Merchantville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Merchantville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Merchantville real estate investment or home purchase decisions.
|$780,001 - $1,040,000||1.5|
|$520,001 - $780,000||1.8|
|$416,001 - $520,000||1.0|
|$312,001 - $416,000||12.0|
|$208,001 - $312,000||50.2|
|$104,001 - $208,000||25.5|
|$52,001 - $104,000||3.3|
|$0 - $52,000||4.6|
|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 Merchantville HOMES|
|2000 or Newer||8.8|
|1970 - 1999||9.7|
|1940 - 1969||30.8|
|1939 or Older||50.7|
|TYPE OF Merchantville HOMES|
|Small Apt. Buildings||28.0|
|SIZE OF Merchantville HOMES|
|5 or more bedrooms||9.54|