Northfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Northfield Neighborhoods Since 2000




Northfield, 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

Northfield Housing Market Information

With a population of 8,521, 3,035 total housing units (homes and apartments), and a median house value of $211,838, Northfield real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Northfield homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Northfield, accounting for 89.73% of the city's housing units. Other types of housing that are prevalent in Northfield include large apartment complexes or high rise apartments ( 6.09%), duplexes, homes converted to apartments or other small apartment buildings ( 2.67%), and a few row houses and other attached homes ( 1.29%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Northfield. Owner-occupied housing accounts for 86.41% of Northfield's homes, and 70.69% 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. Northfield's housing was primarily built during this period, from the '40s through the '60s. A full 55.11% of the city's housing hails from this era. Other housing ages represented in Northfield include homes built between 1970-1999 ( 21.49%) and housing constructed before 1939 ( 15.11%). There's also some housing in Northfield built between 2000 and later ( 8.29%).

Northfield Home Appreciation Rates

Homes have actually lost value in Northfield over the last then years, as home values have seen a decline of 35.30% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Northfield home appreciation rates at -5.44%, which equates to an annual appreciation rate of -20.04%.

Over the last year, Northfield appreciation rates have trailed the rest of the nation. In the last twelve months, Northfield's appreciation rate has been -5.40%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Northfield were at -5.44%, which equates to an annual appreciation rate of -20.04%.

Notably, Northfield's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New Jersey, our data show that Northfield's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$211,838

Northfield, NJ HOME PRICES

Value Range
> $915,000 1.5
$686,001 - $915,000 1.3
$458,001 - $686,000 1.5
$366,001 - $458,000 5.2
$274,001 - $366,000 14.3
$183,001 - $274,000 43.8
$92,001 - $183,000 28.0
$46,001 - $92,000 1.9
$0 - $46,000 2.6

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
29.4738075706082 83.739837398374

Number Of Homes And Apartments:
3,035

Northfield 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
30.27% 1.54% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,057 / per month

Homeownership Rate

Homeownership
Owners 86.41
Renters 13.59
Vacant 4.65

Housing Market Details

 

Age of Homes

AGE OF Northfield HOMES
2000 or Newer 8.3
1970 - 1999 21.5
1940 - 1969 55.1
1939 or Older 15.1

Types of Homes

TYPE OF Northfield HOMES
Single-Family 89.7
Townhomes 1.3
Small Apt. Buildings 2.7
Apt. Complexes 6.1
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Northfield HOMES
No Bedroom 0.22
1 Bedroom 4.24
2 Bedrooms 19.20
3 Bedrooms 47.79
4 Bedrooms 22.90
5 or more bedrooms 5.66