Montclair, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Montclair, NJ Real Estate Data


Montclair Housing Market Information

With a population of 38,202, 1,226 total housing units (homes and apartments), and a median house value of $624,814, Montclair house prices are not only among the most expensive in New Jersey, Montclair 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 Montclair, accounting for 52.00% of the town's housing units. Other types of housing that are prevalent in Montclair include large apartment complexes or high rise apartments ( 24.06%), duplexes, homes converted to apartments or other small apartment buildings ( 21.87%), and a few row houses and other attached homes ( 1.93%).

People in Montclair primarily live in small (one, two or no bedroom) single-family detached homes. Montclair has a mixture of owner-occupied and renter-occupied housing.

The housing in Montclair was primarily built before 1939 ( 58.02%), making the housing stock in Montclair some of the oldest overall in America, although there is a range of ages of homes in Montclair. The next most important housing age is between 1940-1969 ( 29.32%), followed by between 1970-1999 ( 9.04%). There's also some housing in Montclair built between 2000 and later ( 3.62%).

Montclair Home Appreciation Rates

Appreciation rates for homes in Montclair have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.07%, which ranks in the top 50% nationwide. This equates to an annual average Montclair house appreciation rate of 0.59%.

NeighborhoodScout's data show that during the latest twelve months, Montclair's appreciation rate, at 4.51%, has been at or slightly above the national average. In the latest quarter, Montclair's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to New Jersey, our data show that Montclair's latest annual appreciation rate is higher than 70% 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 Montclair differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Montclair - 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 Montclair real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$624,814

Montclair, NJ HOME PRICES

Value Range
> $1,165,000 8.2
$874,001 - $1,165,000 14.1
$583,001 - $874,000 28.7
$466,001 - $583,000 13.9
$350,001 - $466,000 14.0
$233,001 - $350,000 12.9
$117,001 - $233,000 4.7
$58,001 - $117,000 0.3
$0 - $58,000 3.2

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
3.74187503659893 15.4471544715447

Number Of Homes And Apartments:
1,226

Rent & Ownership

 

Average Market Rent:
$2,102 / per month

Homeownership Rate

Homeownership
Owners 59.16
Renters 40.84
Vacant 5.86

Housing Market Details

 

Age of Homes

AGE OF Montclair HOMES
2000 or Newer 3.6
1970 - 1999 9.0
1940 - 1969 29.3
1939 or Older 58.0

Types of Homes

TYPE OF Montclair HOMES
Single-Family 52.0
Townhomes 1.9
Small Apt. Buildings 21.9
Apt. Complexes 24.1
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Montclair HOMES
No Bedroom 3.58
1 Bedroom 16.07
2 Bedrooms 22.36
3 Bedrooms 20.01
4 Bedrooms 17.63
5 or more bedrooms 20.35

Montclair Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
90.46% 3.86% 10 10
* 10 is highest