Piscataway, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Piscataway, 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

Piscataway Housing Market Information

With 58,069 people, 1,608 houses or apartments, and a median cost of homes of $324,900, real estate costs in Piscataway 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 Piscataway, accounting for 56.13% of the town's housing units. Other types of housing that are prevalent in Piscataway include large apartment complexes or high rise apartments ( 23.62%), row houses and other attached homes ( 11.70%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.44%).

The most prevalent building size and type in Piscataway are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 56.47% owning and 43.53% renting.

There is a lot of housing in Piscataway built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Piscataway built between 1940-1969 ( 36.45%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.11%). There's also some housing in Piscataway built before 1939 ( 6.67%).

Piscataway Home Appreciation Rates

Piscataway's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Piscataway during the period has been just -1.52%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Piscataway's appreciation rate, at 5.04%, has been at or slightly above the national average. In the latest quarter, Piscataway's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$324,900

Piscataway, NJ HOME PRICES

Value Range
> $1,090,000 0.7
$817,001 - $1,090,000 0.1
$545,001 - $817,000 7.8
$436,001 - $545,000 16.3
$327,001 - $436,000 29.9
$218,001 - $327,000 36.4
$109,001 - $218,000 5.6
$55,001 - $109,000 1.1
$0 - $55,000 2.1

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
14.109926168991 56.7073170731707

Number Of Homes And Apartments:
1,608

Piscataway 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
56.74% 2.64% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,981 / per month

Homeownership Rate

Homeownership
Owners 56.47
Renters 43.53
Vacant 6.52

Housing Market Details

 

Age of Homes

AGE OF Piscataway HOMES
2000 or Newer 9.1
1970 - 1999 47.8
1940 - 1969 36.4
1939 or Older 6.7

Types of Homes

TYPE OF Piscataway HOMES
Single-Family 56.1
Townhomes 11.7
Small Apt. Buildings 8.4
Apt. Complexes 23.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Piscataway HOMES
No Bedroom 0.82
1 Bedroom 12.22
2 Bedrooms 29.99
3 Bedrooms 30.16
4 Bedrooms 21.98
5 or more bedrooms 4.83