Phillipsburg, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Phillipsburg Neighborhoods Since 2000




Phillipsburg, 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

Phillipsburg Housing Market Information

With 14,515 people, 6,061 houses or apartments, and a median cost of homes of $137,176, house prices in Phillipsburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Phillipsburg, accounting for 46.70% of the town's housing units. Other types of housing that are prevalent in Phillipsburg include duplexes, homes converted to apartments or other small apartment buildings ( 19.83%), row houses and other attached homes ( 18.12%), and a few large apartment complexes or high rise apartments ( 15.06%).

The most prevalent building size and type in Phillipsburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 52.76% owning and 47.24% renting.

The housing in Phillipsburg was primarily built before 1939 ( 52.56%), making the housing stock in Phillipsburg some of the oldest overall in America, although there is a range of ages of homes in Phillipsburg. The next most important housing age is between 1940-1969 ( 35.87%), followed by between 1970-1999 ( 10.64%).

Vacant housing appears to be an issue in Phillipsburg. Fully 13.66% of the housing stock is classified as vacant. Left unchecked, vacant Phillipsburg homes and apartments can be a drag on the real estate market, holding Phillipsburg 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.

Phillipsburg Home Appreciation Rates

Homes have actually lost value in Phillipsburg over the last then years, as home values have seen a decline of 30.39% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Phillipsburg home appreciation rates at 0.88%, which equates to an annual appreciation rate of 3.57%.

NeighborhoodScout's data show that during the latest twelve months, Phillipsburg's appreciation rate, at 3.29%, has been at or slightly above the national average. In the latest quarter, Phillipsburg's appreciation rate has been 0.88%, which annualizes to a rate of 3.57%.

Relative to New Jersey, our data show that Phillipsburg'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 Phillipsburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Phillipsburg - 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 Phillipsburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$137,176

Phillipsburg, NJ HOME PRICES

Value Range
> $1,022,000 0.3
$767,001 - $1,022,000 0.0
$511,001 - $767,000 0.0
$409,001 - $511,000 0.6
$306,001 - $409,000 1.1
$204,001 - $306,000 14.1
$102,001 - $204,000 57.0
$51,001 - $102,000 24.4
$0 - $51,000 2.5

Very Low for NJ
Average for Nation

Value Relative to Nation Value Relative to State
56.1643032930974 97.1544715447154

Number Of Homes And Apartments:
6,061

Phillipsburg 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
23.81% 1.25% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,071 / per month

Homeownership Rate

Homeownership
Owners 52.76
Renters 47.24
Vacant 13.66

Housing Market Details

 

Age of Homes

AGE OF Phillipsburg HOMES
2000 or Newer 0.9
1970 - 1999 10.6
1940 - 1969 35.9
1939 or Older 52.6

Types of Homes

TYPE OF Phillipsburg HOMES
Single-Family 46.7
Townhomes 18.1
Small Apt. Buildings 19.8
Apt. Complexes 15.1
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Phillipsburg HOMES
No Bedroom 0.88
1 Bedroom 14.90
2 Bedrooms 25.37
3 Bedrooms 45.07
4 Bedrooms 11.45
5 or more bedrooms 2.32