Oakland, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Oakland Neighborhoods Since 2000




Oakland, 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

Oakland Housing Market Information

With 13,165 people, 4,361 houses or apartments, and a median cost of homes of $478,189, real estate costs in Oakland 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 Oakland, accounting for 93.19% of the borough's housing units. Other types of housing that are prevalent in Oakland include row houses and other attached homes ( 2.94%), duplexes, homes converted to apartments or other small apartment buildings ( 2.45%), and a few large apartment complexes or high rise apartments ( 1.41%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oakland. Owner-occupied housing accounts for 90.94% of Oakland's homes, and 77.66% 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. Oakland's housing was primarily built during this period, from the '40s through the '60s. A full 72.64% of the borough's housing hails from this era. Other housing ages represented in Oakland include homes built between 1970-1999 ( 17.44%) and housing constructed before 1939 ( 6.76%). There's also some housing in Oakland built between 2000 and later ( 3.16%).

Oakland Home Appreciation Rates

Oakland's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Oakland during the period has been just -1.19%, which is lower than 70% of US communities.

Over the last year, Oakland appreciation rates have trailed the rest of the nation. In the last twelve months, Oakland's appreciation rate has been 2.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Oakland were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Oakland's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$478,189

Oakland, NJ HOME PRICES

Value Range
> $1,076,000 1.2
$807,001 - $1,076,000 3.0
$538,001 - $807,000 28.0
$430,001 - $538,000 28.5
$323,001 - $430,000 28.4
$215,001 - $323,000 7.2
$107,001 - $215,000 1.9
$54,001 - $107,000 0.5
$0 - $54,000 1.3

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
6.51001992265323 28.2520325203252

Number Of Homes And Apartments:
4,361

Oakland 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
51.18% 2.42% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,820 / per month

Homeownership Rate

Homeownership
Owners 90.94
Renters 9.06
Vacant 3.62

Housing Market Details

 

Age of Homes

AGE OF Oakland HOMES
2000 or Newer 3.2
1970 - 1999 17.4
1940 - 1969 72.6
1939 or Older 6.8

Types of Homes

TYPE OF Oakland HOMES
Single-Family 93.2
Townhomes 2.9
Small Apt. Buildings 2.5
Apt. Complexes 1.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Oakland HOMES
No Bedroom 0.53
1 Bedroom 3.85
2 Bedrooms 12.51
3 Bedrooms 47.27
4 Bedrooms 30.39
5 or more bedrooms 5.46