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 3,003, 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%).
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.
|$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|
|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 Monmouth Junction HOMES|
|2000 or Newer||4.1|
|1970 - 1999||64.7|
|1940 - 1969||22.6|
|1939 or Older||8.7|
|TYPE OF Monmouth Junction HOMES|
|Small Apt. Buildings||1.6|
|SIZE OF Monmouth Junction HOMES|
|5 or more bedrooms||1.29|