Mount Laurel, NJ Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mount Laurel, NJ Housing Market Trends

With a population of 41,249, 1,803 total housing units (homes and apartments), and a median house value of $351,976, Mount Laurel real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mount Laurel, accounting for 50.19% of the town's housing units. Other types of housing that are prevalent in Mount Laurel include row houses and other attached homes ( 25.18%), large apartment complexes or high rise apartments ( 17.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.77%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mount Laurel. Owner-occupied housing accounts for 76.67% of Mount Laurel's homes, and 56.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Mount Laurel 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 Mount Laurel built between 1940-1969 ( 12.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.05%). There's also some housing in Mount Laurel built before 1939 ( 1.41%).

Mount Laurel Home Appreciation Rates

Mount Laurel's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mount Laurel during the period has been just 1.98%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Mount Laurel's appreciation rate, at 8.91%, has been at or slightly above the national average. In the latest quarter, Mount Laurel's appreciation rate has been 3.46%, which annualizes to a rate of 14.59%.

Relative to New Jersey, our data show that Mount Laurel's latest annual appreciation rate is lower than 50% 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 Mount Laurel differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mount Laurel - 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 Mount Laurel real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$351,976

Mount Laurel, NJ HOME PRICES

> $1,177,000
0.2%
0.2%
$883,001 - $1,177,000
1.6%
1.6%
$588,001 - $883,000
9.9%
9.9%
$471,001 - $588,000
8.7%
8.7%
$353,001 - $471,000
23.3%
23.3%
$235,001 - $353,000
27.9%
27.9%
$117,001 - $235,000
25.7%
25.7%
$59,001 - $117,000
1.5%
1.5%
$0 - $59,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
1,803

Mount Laurel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
81.47% 2.81%
5
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,294 / per month

Homeownership Rate

Owners
76.7%
76.7%
Renters
23.3%
23.3%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
12.1%
12.1%
1970 - 1999
74.1%
74.1%
1940 - 1969
12.4%
12.4%
1939 or Older
1.4%
1.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
50.2%
50.2%
Townhomes
25.2%
25.2%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
17.7%
17.7%
Mobile Homes
1.2%
1.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.7%
0.7%
1 Bedroom
6.0%
6.0%
2 Bedrooms
32.8%
32.8%
3 Bedrooms
28.4%
28.4%
4 Bedrooms
28.0%
28.0%
5 or more bedrooms
4.2%
4.2%
0.0% 100.0%
% OF HOMES