Northfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Northfield Neighborhoods Since 2000




Northfield, NJ Real Estate Data


Northfield Housing Market Information

With 8,521 people, 3,089 houses or apartments, and a median cost of homes of $232,436, 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 91.60% of the city's housing units. Other types of housing that are prevalent in Northfield include large apartment complexes or high rise apartments ( 5.37%), duplexes, homes converted to apartments or other small apartment buildings ( 1.79%), and a few row houses and other attached homes ( 1.08%).

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 88.84% of Northfield's homes, and 71.53% 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 55.60% of the city's housing hails from this era. Other housing ages represented in Northfield include homes built between 1970-1999 ( 20.65%) and housing constructed before 1939 ( 14.39%). There's also some housing in Northfield built between 2000 and later ( 9.35%).

Northfield Home Appreciation Rates

Homes have actually lost value in Northfield over the last then years, as home values have seen a decline of 29.29% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Northfield home appreciation rates at -2.59%, which equates to an annual appreciation rate of -9.97%.

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 3.91%, 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 -2.59%, which equates to an annual appreciation rate of -9.97%.

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 higher than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$232,436

Northfield, NJ HOME PRICES

Value Range
> $978,000 1.7
$733,001 - $978,000 0.8
$489,001 - $733,000 2.3
$391,001 - $489,000 5.6
$294,001 - $391,000 12.3
$196,001 - $294,000 47.9
$98,001 - $196,000 26.0
$49,001 - $98,000 1.3
$0 - $49,000 2.0

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
26.1169994729753 80.6910569105691

Number Of Homes And Apartments:
3,089

Rent & Ownership

 

Average Market Rent:
$1,632 / per month

Homeownership Rate

Homeownership
Owners 88.84
Renters 11.16
Vacant 4.63

Housing Market Details

 

Age of Homes

AGE OF Northfield HOMES
2000 or Newer 9.4
1970 - 1999 20.7
1940 - 1969 55.6
1939 or Older 14.4

Types of Homes

TYPE OF Northfield HOMES
Single-Family 91.6
Townhomes 1.1
Small Apt. Buildings 1.8
Apt. Complexes 5.4
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Northfield HOMES
No Bedroom 0.22
1 Bedroom 4.75
2 Bedrooms 19.33
3 Bedrooms 47.33
4 Bedrooms 24.21
5 or more bedrooms 4.17

Northfield 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
43.71% 2.16% 3 5
* 10 is highest