Oak Ridge, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Oak Ridge Neighborhoods Since 2000




Oak Ridge, 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

Oak Ridge Housing Market Information

With 10,705 people, 1,993 houses or apartments, and a median cost of homes of $355,126, real estate costs in Oak Ridge are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Oak Ridge, accounting for 86.16% of the town's housing units. Other types of housing that are prevalent in Oak Ridge include row houses and other attached homes ( 6.84%), large apartment complexes or high rise apartments ( 3.33%), and a few mobile homes or trailers ( 1.85%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oak Ridge. Owner-occupied housing accounts for 90.42% of Oak Ridge's homes, and 69.11% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Oak Ridge built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Oak Ridge built between 1940-1969 ( 38.15%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.96%). There's also some housing in Oak Ridge built before 1939 ( 6.70%).

Oak Ridge Home Appreciation Rates

Homes have actually lost value in Oak Ridge over the last then years, as home values have seen a decline of 21.27% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Oak Ridge home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Oak Ridge appreciation rates have trailed the rest of the nation. In the last twelve months, Oak Ridge's appreciation rate has been 1.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Oak Ridge were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Oak Ridge's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$355,126

Oak Ridge, NJ HOME PRICES

Value Range
> $1,049,000 0.4
$787,001 - $1,049,000 0.6
$524,001 - $787,000 11.1
$420,001 - $524,000 15.1
$315,001 - $420,000 35.7
$210,001 - $315,000 25.5
$105,001 - $210,000 7.2
$52,001 - $105,000 1.2
$0 - $52,000 3.2

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
11.8129614438064 50.609756097561

Number Of Homes And Apartments:
1,993

Oak Ridge 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
32.46% 1.64% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,251 / per month

Homeownership Rate

Homeownership
Owners 90.42
Renters 9.58
Vacant 4.14

Housing Market Details

 

Age of Homes

AGE OF Oak Ridge HOMES
2000 or Newer 11.0
1970 - 1999 44.2
1940 - 1969 38.2
1939 or Older 6.7

Types of Homes

TYPE OF Oak Ridge HOMES
Single-Family 86.2
Townhomes 6.8
Small Apt. Buildings 1.8
Apt. Complexes 3.3
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Oak Ridge HOMES
No Bedroom 0.25
1 Bedroom 7.73
2 Bedrooms 18.12
3 Bedrooms 41.78
4 Bedrooms 27.33
5 or more bedrooms 4.81

Popular Neighborhoods in Oak Ridge

Zip Codes in Oak Ridge, NJ