Millville, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Millville Neighborhoods Since 2000




Millville, 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

Millville Housing Market Information

With a population of 28,230, 10,412 total housing units (homes and apartments), and a median house value of $157,029, Millville real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Millville homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Millville, accounting for 61.34% of the city's housing units. Other types of housing that are prevalent in Millville include large apartment complexes or high rise apartments ( 16.75%), duplexes, homes converted to apartments or other small apartment buildings ( 11.13%), and a few row houses and other attached homes ( 7.81%).

The most prevalent building size and type in Millville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.46% owning and 36.54% renting.

There is a lot of housing in Millville 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 Millville built between 1940-1969 ( 33.68%). A lesser amount of the housing stock also hails from before 1939 ( 20.35%). There's also some housing in Millville built between 2000 and later ( 11.48%).

Millville Home Appreciation Rates

Homes have actually lost value in Millville over the last then years, as home values have seen a decline of 27.93% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Millville home appreciation rates at -1.03%, which equates to an annual appreciation rate of -4.06%.

Over the last year, Millville appreciation rates have trailed the rest of the nation. In the last twelve months, Millville's appreciation rate has been 2.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millville were at -1.03%, which equates to an annual appreciation rate of -4.06%.

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

Relative to New Jersey, our data show that Millville's latest annual appreciation rate is lower than 60% 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 city. Individual neighborhoods within Millville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Millville - 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 Millville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$157,029

Millville, NJ HOME PRICES

Value Range
> $981,000 1.2
$736,001 - $981,000 0.4
$490,001 - $736,000 1.2
$393,001 - $490,000 1.0
$294,001 - $393,000 3.4
$196,001 - $294,000 18.9
$98,001 - $196,000 52.9
$49,001 - $98,000 16.2
$0 - $49,000 4.9

Very Low for NJ
Average for Nation

Value Relative to Nation Value Relative to State
47.005742411813 94.9186991869919

Number Of Homes And Apartments:
10,412

Millville 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
26.49% 1.37% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,360 / per month

Homeownership Rate

Homeownership
Owners 63.46
Renters 36.54
Vacant 9.35

Housing Market Details

 

Age of Homes

AGE OF Millville HOMES
2000 or Newer 11.5
1970 - 1999 34.5
1940 - 1969 33.7
1939 or Older 20.3

Types of Homes

TYPE OF Millville HOMES
Single-Family 61.3
Townhomes 7.8
Small Apt. Buildings 11.1
Apt. Complexes 16.8
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Millville HOMES
No Bedroom 1.95
1 Bedroom 13.49
2 Bedrooms 23.52
3 Bedrooms 45.07
4 Bedrooms 14.50
5 or more bedrooms 1.48