Perth Amboy, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Perth Amboy, NJ Real Estate Data


Perth Amboy Housing Market Information

With 52,682 people, 16,269 houses or apartments, and a median cost of homes of $258,693, Perth Amboy real estate prices are well above average cost compared to national prices.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Perth Amboy, accounting for 42.05% of the city's housing units. Other types of housing that are prevalent in Perth Amboy include single-family detached homes ( 27.67%), large apartment complexes or high rise apartments ( 25.48%), and a few row houses and other attached homes ( 4.80%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Perth Amboy is dominated by renter-occupied one, two, or no bedrooms apartments. 68.34% of Perth Amboy'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. Perth Amboy's housing was primarily built during this period, from the '40s through the '60s. A full 35.11% of the city's housing hails from this era. Other housing ages represented in Perth Amboy include homes built before 1939 ( 28.48%) and housing constructed between 1970-1999 ( 19.45%). There's also some housing in Perth Amboy built between 2000 and later ( 16.95%).

Perth Amboy Home Appreciation Rates

Homes have actually lost value in Perth Amboy over the last then years, as home values have seen a decline of 33.14% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Perth Amboy home appreciation rates at -0.16%, which equates to an annual appreciation rate of -0.66%.

Over the last year, Perth Amboy appreciation rates have trailed the rest of the nation. In the last twelve months, Perth Amboy's appreciation rate has been 0.40%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Perth Amboy were at -0.16%, which equates to an annual appreciation rate of -0.66%.

Relative to New Jersey, our data show that Perth Amboy's latest annual appreciation rate is lower than 80% 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 city. Individual neighborhoods within Perth Amboy differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Perth Amboy - 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 Perth Amboy real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$258,693

Perth Amboy, NJ HOME PRICES

Value Range
> $1,083,000 0.1
$813,001 - $1,083,000 0.0
$542,001 - $813,000 2.7
$434,001 - $542,000 5.5
$325,001 - $434,000 16.5
$217,001 - $325,000 45.2
$108,001 - $217,000 22.8
$55,001 - $108,000 3.3
$0 - $55,000 3.9

Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
21.0066799484355 75.8130081300813

Number Of Homes And Apartments:
16,269

Rent & Ownership

 

Average Market Rent:
$1,558 / per month

Homeownership Rate

Homeownership
Owners 31.66
Renters 68.34
Vacant 6.46

Housing Market Details

 

Age of Homes

AGE OF Perth Amboy HOMES
2000 or Newer 17.0
1970 - 1999 19.5
1940 - 1969 35.1
1939 or Older 28.5

Types of Homes

TYPE OF Perth Amboy HOMES
Single-Family 27.7
Townhomes 4.8
Small Apt. Buildings 42.1
Apt. Complexes 25.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Perth Amboy HOMES
No Bedroom 2.39
1 Bedroom 21.19
2 Bedrooms 33.52
3 Bedrooms 32.50
4 Bedrooms 8.64
5 or more bedrooms 1.75

Perth Amboy Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
39.91% 1.97% 3 5
* 10 is highest