Monmouth Junction, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Monmouth Junction Neighborhoods Since 2000




Monmouth Junction, 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

Monmouth Junction Housing Market Information

With a population of 3,003, 1,005 total housing units (homes and apartments), and a median house value of $464,579, real estate costs in Monmouth Junction 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 Monmouth Junction, accounting for 60.80% of the town's housing units. Other types of housing that are prevalent in Monmouth Junction include row houses and other attached homes ( 35.22%), large apartment complexes or high rise apartments ( 2.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.59%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Monmouth Junction. Owner-occupied housing accounts for 93.89% of Monmouth Junction's homes, and 78.71% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Monmouth Junction 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 Monmouth Junction built between 1940-1969 ( 22.59%). A lesser amount of the housing stock also hails from before 1939 ( 8.66%). There's also some housing in Monmouth Junction built between 2000 and later ( 4.08%).

Monmouth Junction Home Appreciation Rates

Real estate appreciation rates in Monmouth Junction's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.51% during the period.

Over the last year, Monmouth Junction appreciation rates have trailed the rest of the nation. In the last twelve months, Monmouth Junction's appreciation rate has been 2.47%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Monmouth Junction were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Monmouth Junction's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$464,579

Monmouth Junction, NJ HOME PRICES

Value Range
> $1,102,000 1.3
$826,001 - $1,102,000 5.0
$551,001 - $826,000 20.0
$441,001 - $551,000 19.2
$330,001 - $441,000 24.3
$220,001 - $330,000 21.0
$110,001 - $220,000 7.5
$55,001 - $110,000 1.3
$0 - $55,000 0.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
6.9494902144615 30.0813008130081

Number Of Homes And Apartments:
1,005

Monmouth Junction 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
76.09% 3.33% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,364 / per month

Homeownership Rate

Homeownership
Owners 93.89
Renters 6.11
Vacant 0.00

Housing Market Details

 

Age of Homes

AGE OF Monmouth Junction HOMES
2000 or Newer 4.1
1970 - 1999 64.7
1940 - 1969 22.6
1939 or Older 8.7

Types of Homes

TYPE OF Monmouth Junction HOMES
Single-Family 60.8
Townhomes 35.2
Small Apt. Buildings 1.6
Apt. Complexes 2.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Monmouth Junction HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 20.00
3 Bedrooms 35.42
4 Bedrooms 43.28
5 or more bedrooms 1.29