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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 27,452, 1,538 total housing units (homes and apartments), and a median house value of $227,355, Orange real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Orange homes are still considered rather expensive.
Large apartment complexes or high rise apartments are the single most common housing type in Orange, accounting for 42.95% of the town's housing units. Other types of housing that are prevalent in Orange include duplexes, homes converted to apartments or other small apartment buildings ( 33.38%), single-family detached homes ( 17.29%), and a few row houses and other attached homes ( 6.29%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.
Orange is dominated by renter-occupied one, two, or no bedrooms apartments. 78.84% of Orange's dwellings are rentals.
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. Orange's housing was primarily built during this period, from the '40s through the '60s. A full 39.25% of the town's housing hails from this era. Other housing ages represented in Orange include homes built before 1939 ( 31.14%) and housing constructed between 1970-1999 ( 21.01%). There's also some housing in Orange built between 2000 and later ( 8.61%).
Vacant housing appears to be an issue in Orange. Fully 14.10% of the housing stock is classified as vacant. Left unchecked, vacant Orange homes and apartments can be a drag on the real estate market, holding Orange real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Homes have actually lost value in Orange over the last then years, as home values have seen a decline of 31.49% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Orange home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.
Over the last year, Orange appreciation rates have trailed the rest of the nation. In the last twelve months, Orange's appreciation rate has been 3.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Orange were at 0.66%, which equates to an annual appreciation rate of 2.68%.
Relative to New Jersey, our data show that Orange's latest annual appreciation rate is higher than 50% 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 Orange differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Orange - 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 Orange real estate investment or home purchase decisions.
|$795,001 - $1,060,000||0.0|
|$530,001 - $795,000||1.5|
|$424,001 - $530,000||2.3|
|$318,001 - $424,000||14.2|
|$212,001 - $318,000||40.4|
|$106,001 - $212,000||32.9|
|$53,001 - $106,000||7.6|
|$0 - $53,000||1.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Orange HOMES|
|2000 or Newer||8.6|
|1970 - 1999||21.0|
|1940 - 1969||39.2|
|1939 or Older||31.1|
|TYPE OF Orange HOMES|
|Small Apt. Buildings||33.4|
|SIZE OF Orange HOMES|
|5 or more bedrooms||5.28|