Park Ridge, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Park Ridge Neighborhoods Since 2000




Park 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

Park Ridge Housing Market Information

With a population of 8,919, 3,185 total housing units (homes and apartments), and a median house value of $546,555, real estate costs in Park 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 Park Ridge, accounting for 70.11% of the borough's housing units. Other types of housing that are prevalent in Park Ridge include duplexes, homes converted to apartments or other small apartment buildings ( 13.02%), row houses and other attached homes ( 8.39%), and a few large apartment complexes or high rise apartments ( 8.26%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Park Ridge. Owner-occupied housing accounts for 77.47% of Park Ridge's homes, and 62.37% 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. Park Ridge's housing was primarily built during this period, from the '40s through the '60s. A full 47.58% of the borough's housing hails from this era. Other housing ages represented in Park Ridge include homes built between 1970-1999 ( 33.36%) and housing constructed before 1939 ( 11.71%). There's also some housing in Park Ridge built between 2000 and later ( 7.35%).

Park Ridge Home Appreciation Rates

Park Ridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Park Ridge during the period has been just -1.00%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Park Ridge's appreciation rate, at 4.72%, has been at or slightly above the national average. In the latest quarter, Park Ridge's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Park Ridge's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$546,555

Park Ridge, NJ HOME PRICES

Value Range
> $1,111,000 2.7
$833,001 - $1,111,000 7.6
$556,001 - $833,000 41.8
$444,001 - $556,000 26.2
$333,001 - $444,000 13.5
$222,001 - $333,000 5.9
$111,001 - $222,000 2.0
$56,001 - $111,000 0.0
$0 - $56,000 0.2

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
4.79315598265557 21.1382113821138

Number Of Homes And Apartments:
3,185

Park 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
53.52% 2.52% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,057 / per month

Homeownership Rate

Homeownership
Owners 77.47
Renters 22.53
Vacant 2.87

Housing Market Details

 

Age of Homes

AGE OF Park Ridge HOMES
2000 or Newer 7.3
1970 - 1999 33.4
1940 - 1969 47.6
1939 or Older 11.7

Types of Homes

TYPE OF Park Ridge HOMES
Single-Family 70.1
Townhomes 8.4
Small Apt. Buildings 13.0
Apt. Complexes 8.3
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Park Ridge HOMES
No Bedroom 2.93
1 Bedroom 8.60
2 Bedrooms 17.47
3 Bedrooms 35.74
4 Bedrooms 26.62
5 or more bedrooms 8.63

Popular Neighborhoods in Park Ridge

Zip Codes in Park Ridge, NJ