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 44,127, 3,131 total housing units (homes and apartments), and a median house value of $561,336, Monroe Township house prices are not only among the most expensive in New Jersey, Monroe Township real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Monroe Township, accounting for 72.17% of the town's housing units. Other types of housing that are prevalent in Monroe Township include row houses and other attached homes ( 18.08%), large apartment complexes or high rise apartments ( 5.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.24%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Monroe Township. Owner-occupied housing accounts for 90.41% of Monroe Township's homes, and 49.24% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Monroe Township 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 Monroe Township built between 2000 and later ( 36.13%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.62%). There's also some housing in Monroe Township built before 1939 ( 4.14%).
Real estate appreciation rates in Monroe Township's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.55% during the period.
NeighborhoodScout's data show that during the latest twelve months, Monroe Township's appreciation rate, at 3.41%, has been at or slightly above the national average. In the latest quarter, Monroe Township's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.
Relative to New Jersey, our data show that Monroe Township's latest annual appreciation rate is higher 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 town. Individual neighborhoods within Monroe Township differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Monroe Township - 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 Monroe Township real estate investment or home purchase decisions.
|$841,001 - $1,122,000||5.9|
|$561,001 - $841,000||25.4|
|$448,001 - $561,000||15.0|
|$337,001 - $448,000||16.8|
|$224,001 - $337,000||12.2|
|$112,001 - $224,000||15.1|
|$56,001 - $112,000||5.2|
|$0 - $56,000||3.8|
|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 Monroe Township HOMES|
|2000 or Newer||36.1|
|1970 - 1999||47.1|
|1940 - 1969||12.6|
|1939 or Older||4.1|
|TYPE OF Monroe Township HOMES|
|Small Apt. Buildings||4.2|
|SIZE OF Monroe Township HOMES|
|5 or more bedrooms||11.22|