North Plainfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating North Plainfield Neighborhoods Since 2000




North Plainfield, 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

North Plainfield Housing Market Information

With 22,140 people, 7,321 houses or apartments, and a median cost of homes of $298,039, 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 49.59% 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 ( 25.25%), large apartment complexes or high rise apartments ( 21.37%), and a few row houses and other attached homes ( 3.79%).

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

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 52.57% of the borough's housing hails from this era. Other housing ages represented in North Plainfield include homes built before 1939 ( 34.02%) and housing constructed between 1970-1999 ( 12.72%).

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 27.71% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows North Plainfield home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

NeighborhoodScout's data show that during the latest twelve months, North Plainfield's appreciation rate, at 4.75%, has been at or slightly above the national average. In the latest quarter, North Plainfield's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that North Plainfield'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 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:
$298,039

North Plainfield, NJ HOME PRICES

Value Range
> $1,101,000 0.0
$826,001 - $1,101,000 0.3
$550,001 - $826,000 3.5
$441,001 - $550,000 4.2
$330,001 - $441,000 20.4
$220,001 - $330,000 40.7
$110,001 - $220,000 23.0
$55,001 - $110,000 7.4
$0 - $55,000 0.5

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
16.447908121411 63.4146341463415

Number Of Homes And Apartments:
7,321

North Plainfield 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
39.76% 1.96% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,685 / per month

Homeownership Rate

Homeownership
Owners 54.39
Renters 45.61
Vacant 5.25

Housing Market Details

 

Age of Homes

AGE OF North Plainfield HOMES
2000 or Newer 0.7
1970 - 1999 12.7
1940 - 1969 52.6
1939 or Older 34.0

Types of Homes

TYPE OF North Plainfield HOMES
Single-Family 49.6
Townhomes 3.8
Small Apt. Buildings 25.2
Apt. Complexes 21.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Plainfield HOMES
No Bedroom 1.32
1 Bedroom 21.59
2 Bedrooms 26.50
3 Bedrooms 34.86
4 Bedrooms 13.39
5 or more bedrooms 2.33