Old Bridge, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Old Bridge, NJ Real Estate Data


Old Bridge Housing Market Information

With a population of 24,347, 7,808 total housing units (homes and apartments), and a median house value of $376,577, real estate costs in Old Bridge 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 Old Bridge, accounting for 83.04% of the town's housing units. Other types of housing that are prevalent in Old Bridge include large apartment complexes or high rise apartments ( 11.57%), row houses and other attached homes ( 3.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.43%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Old Bridge. Owner-occupied housing accounts for 83.87% of Old Bridge's homes, and 77.86% 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. Old Bridge's housing was primarily built during this period, from the '40s through the '60s. A full 62.38% of the town's housing hails from this era. Other housing ages represented in Old Bridge include homes built between 1970-1999 ( 29.65%) and housing constructed between 2000 and later ( 5.59%). There's also some housing in Old Bridge built before 1939 ( 2.38%).

Old Bridge Home Appreciation Rates

Old Bridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Old Bridge during the period has been just -1.08%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Old Bridge's appreciation rate, at 4.58%, has been at or slightly above the national average. In the latest quarter, Old Bridge's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to New Jersey, our data show that Old Bridge's latest annual appreciation rate is higher than 70% 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 town. Individual neighborhoods within Old Bridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Old Bridge - 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 Old Bridge real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$376,577

Old Bridge, NJ HOME PRICES

Value Range
> $1,121,000 0.3
$840,001 - $1,121,000 0.1
$560,001 - $840,000 5.4
$448,001 - $560,000 14.3
$336,001 - $448,000 47.7
$224,001 - $336,000 26.3
$112,001 - $224,000 3.5
$56,001 - $112,000 0.4
$0 - $56,000 1.9

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
10.8801311705803 47.1544715447154

Number Of Homes And Apartments:
7,808

Rent & Ownership

 

Average Market Rent:
$1,577 / per month

Homeownership Rate

Homeownership
Owners 83.87
Renters 16.13
Vacant 3.78

Housing Market Details

 

Age of Homes

AGE OF Old Bridge HOMES
2000 or Newer 5.6
1970 - 1999 29.6
1940 - 1969 62.4
1939 or Older 2.4

Types of Homes

TYPE OF Old Bridge HOMES
Single-Family 83.0
Townhomes 3.5
Small Apt. Buildings 1.4
Apt. Complexes 11.6
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Old Bridge HOMES
No Bedroom 0.04
1 Bedroom 10.51
2 Bedrooms 6.68
3 Bedrooms 39.89
4 Bedrooms 37.97
5 or more bedrooms 4.92

Old Bridge 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
68.27% 3.11% 8 8
* 10 is highest