North Plainfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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North Plainfield, NJ Real Estate Data


North Plainfield Housing Market Information

With a population of 22,140, 7,255 total housing units (homes and apartments), and a median house value of $274,618, North Plainfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in North Plainfield, accounting for 50.90% of the borough's housing units. Other types of housing that are prevalent in North Plainfield include duplexes, homes converted to apartments or other small apartment buildings ( 24.21%), large apartment complexes or high rise apartments ( 22.11%), and a few row houses and other attached homes ( 2.78%).

The most prevalent building size and type in North Plainfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 57.96% owning and 42.04% renting.

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. North Plainfield's housing was primarily built during this period, from the '40s through the '60s. A full 54.79% of the borough's housing hails from this era. Other housing ages represented in North Plainfield include homes built before 1939 ( 30.09%) and housing constructed between 1970-1999 ( 14.34%).

North Plainfield Home Appreciation Rates

Homes have actually lost value in North Plainfield over the last then years, as home values have seen a decline of 28.14% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows North Plainfield home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

Over the last year, North Plainfield appreciation rates have trailed the rest of the nation. In the last twelve months, North Plainfield's appreciation rate has been 4.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Plainfield were at 1.43%, which equates to an annual appreciation rate of 5.85%.

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

Average Home Values

 

Median Home Value:
$274,618

North Plainfield, NJ HOME PRICES

Value Range
> $1,059,000 0.0
$794,001 - $1,059,000 0.1
$529,001 - $794,000 3.1
$424,001 - $529,000 3.8
$318,001 - $424,000 27.1
$212,001 - $318,000 39.7
$106,001 - $212,000 20.4
$53,001 - $106,000 5.0
$0 - $53,000 0.8

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
19.7341453416877 73.5772357723577

Number Of Homes And Apartments:
7,255

Rent & Ownership

 

Average Market Rent:
$1,625 / per month

Homeownership Rate

Homeownership
Owners 57.96
Renters 42.04
Vacant 5.66

Housing Market Details

 

Age of Homes

AGE OF North Plainfield HOMES
2000 or Newer 0.8
1970 - 1999 14.3
1940 - 1969 54.8
1939 or Older 30.1

Types of Homes

TYPE OF North Plainfield HOMES
Single-Family 50.9
Townhomes 2.8
Small Apt. Buildings 24.2
Apt. Complexes 22.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Plainfield HOMES
No Bedroom 1.61
1 Bedroom 20.98
2 Bedrooms 23.56
3 Bedrooms 37.06
4 Bedrooms 14.60
5 or more bedrooms 2.18

North Plainfield 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
37.54% 1.89% 2 4
* 10 is highest