Neptune, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Neptune, 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

Neptune Housing Market Information

With a population of 24,275, 1,374 total housing units (homes and apartments), and a median house value of $310,949, Neptune real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Neptune, accounting for 70.39% of the town's housing units. Other types of housing that are prevalent in Neptune include large apartment complexes or high rise apartments ( 15.41%), row houses and other attached homes ( 7.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.64%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Neptune. Owner-occupied housing accounts for 67.99% of Neptune's homes, and 60.87% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Neptune's housing was primarily built during this period, from the '40s through the '60s. A full 48.63% of the town's housing hails from this era. Other housing ages represented in Neptune include homes built between 1970-1999 ( 27.38%) and housing constructed between 2000 and later ( 13.51%). There's also some housing in Neptune built before 1939 ( 10.49%).

Neptune Home Appreciation Rates

Neptune's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Neptune during the period has been just -1.74%, which is lower than 80% of US communities.

Appreciation rates are so strong in Neptune that despite a nationwide downturn in the housing market, Neptune real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Neptune appreciation rates continue to be some of the highest in America, at 5.91%, which is higher than appreciation rates in 73.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Neptune. Neptune appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Neptune's latest annual appreciation rate is higher than 80% 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 Neptune differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Neptune - 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 Neptune real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$310,949

Neptune, NJ HOME PRICES

Value Range
> $1,139,000 0.7
$854,001 - $1,139,000 0.2
$569,001 - $854,000 3.9
$456,001 - $569,000 7.0
$342,001 - $456,000 26.6
$227,001 - $342,000 38.9
$114,001 - $227,000 18.0
$57,001 - $114,000 1.6
$0 - $57,000 3.1

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
15.3463025899449 59.5528455284553

Number Of Homes And Apartments:
1,374

Neptune 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
80.94% 3.50% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,394 / per month

Homeownership Rate

Homeownership
Owners 67.99
Renters 32.01
Vacant 6.93

Housing Market Details

 

Age of Homes

AGE OF Neptune HOMES
2000 or Newer 13.5
1970 - 1999 27.4
1940 - 1969 48.6
1939 or Older 10.5

Types of Homes

TYPE OF Neptune HOMES
Single-Family 70.4
Townhomes 7.6
Small Apt. Buildings 5.6
Apt. Complexes 15.4
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Neptune HOMES
No Bedroom 1.76
1 Bedroom 11.30
2 Bedrooms 22.21
3 Bedrooms 43.04
4 Bedrooms 17.84
5 or more bedrooms 3.85