Metuchen, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Metuchen Neighborhoods Since 2000




Metuchen, 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

Metuchen Housing Market Information

With a population of 13,886, 5,047 total housing units (homes and apartments), and a median house value of $396,512, real estate costs in Metuchen 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 Metuchen, accounting for 67.73% of the borough's housing units. Other types of housing that are prevalent in Metuchen include large apartment complexes or high rise apartments ( 13.25%), row houses and other attached homes ( 10.42%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.59%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Metuchen. Owner-occupied housing accounts for 77.32% of Metuchen's homes, and 60.16% 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. Metuchen's housing was primarily built during this period, from the '40s through the '60s. A full 48.70% of the borough's housing hails from this era. Other housing ages represented in Metuchen include homes built before 1939 ( 21.83%) and housing constructed between 1970-1999 ( 18.98%). There's also some housing in Metuchen built between 2000 and later ( 10.50%).

Metuchen Home Appreciation Rates

Real estate appreciation rates in Metuchen's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.34% during the period.

Over the last year, Metuchen appreciation rates have trailed the rest of the nation. In the last twelve months, Metuchen's appreciation rate has been 2.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Metuchen were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Metuchen's latest annual appreciation rate is higher than 50% 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 Metuchen differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Metuchen - 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 Metuchen real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$396,512

Metuchen, NJ HOME PRICES

Value Range
> $1,099,000 1.4
$824,001 - $1,099,000 5.3
$549,001 - $824,000 16.6
$440,001 - $549,000 24.6
$330,001 - $440,000 29.1
$220,001 - $330,000 16.0
$110,001 - $220,000 5.2
$55,001 - $110,000 1.1
$0 - $55,000 0.8

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
9.61560998476503 41.4634146341463

Number Of Homes And Apartments:
5,047

Metuchen 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
72.34% 3.21% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,076 / per month

Homeownership Rate

Homeownership
Owners 77.32
Renters 22.68
Vacant 2.77

Housing Market Details

 

Age of Homes

AGE OF Metuchen HOMES
2000 or Newer 10.5
1970 - 1999 19.0
1940 - 1969 48.7
1939 or Older 21.8

Types of Homes

TYPE OF Metuchen HOMES
Single-Family 67.7
Townhomes 10.4
Small Apt. Buildings 8.6
Apt. Complexes 13.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Metuchen HOMES
No Bedroom 2.20
1 Bedroom 10.31
2 Bedrooms 20.69
3 Bedrooms 37.28
4 Bedrooms 22.89
5 or more bedrooms 6.65