Plainfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Plainfield Neighborhoods Since 2000




Plainfield, NJ Real Estate Data


Plainfield Housing Market Information

With 51,217 people, 14,518 houses or apartments, and a median cost of homes of $262,889, Plainfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Plainfield, accounting for 44.02% of the city's housing units. Other types of housing that are prevalent in Plainfield include duplexes, homes converted to apartments or other small apartment buildings ( 27.28%), large apartment complexes or high rise apartments ( 24.50%), and a few row houses and other attached homes ( 3.72%).

The most prevalent building size and type in Plainfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.74% owning and 52.26% renting.

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. Plainfield's housing was primarily built during this period, from the '40s through the '60s. A full 42.22% of the city's housing hails from this era. Other housing ages represented in Plainfield include homes built before 1939 ( 34.78%) and housing constructed between 1970-1999 ( 20.04%). There's also some housing in Plainfield built between 2000 and later ( 2.96%).

Vacant housing appears to be an issue in Plainfield. Fully 10.30% of the housing stock is classified as vacant. Left unchecked, vacant Plainfield homes and apartments can be a drag on the real estate market, holding Plainfield 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.

Plainfield Home Appreciation Rates

Homes have actually lost value in Plainfield over the last then years, as home values have seen a decline of 27.28% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Plainfield home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

Over the last year, Plainfield appreciation rates have trailed the rest of the nation. In the last twelve months, Plainfield's appreciation rate has been 4.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Plainfield were at 1.43%, which equates to an annual appreciation rate of 5.85%.

Relative to New Jersey, our data show that Plainfield's latest annual appreciation rate is higher than 60% 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 Plainfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Plainfield - 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 Plainfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$262,889

Plainfield, NJ HOME PRICES

Value Range
> $1,070,000 0.3
$803,001 - $1,070,000 0.5
$535,001 - $803,000 5.0
$428,001 - $535,000 7.8
$321,001 - $428,000 16.7
$214,001 - $321,000 31.2
$107,001 - $214,000 30.1
$53,001 - $107,000 3.8
$0 - $53,000 4.6

Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
21.2859401534227 75.8130081300813

Number Of Homes And Apartments:
14,518

Rent & Ownership

 

Average Market Rent:
$1,467 / per month

Homeownership Rate

Homeownership
Owners 47.74
Renters 52.26
Vacant 10.30

Housing Market Details

 

Age of Homes

AGE OF Plainfield HOMES
2000 or Newer 3.0
1970 - 1999 20.0
1940 - 1969 42.2
1939 or Older 34.8

Types of Homes

TYPE OF Plainfield HOMES
Single-Family 44.0
Townhomes 3.7
Small Apt. Buildings 27.3
Apt. Complexes 24.5
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Plainfield HOMES
No Bedroom 5.17
1 Bedroom 14.61
2 Bedrooms 26.50
3 Bedrooms 30.62
4 Bedrooms 15.93
5 or more bedrooms 7.18

Plainfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
42.37% 2.10% 2 5
* 10 is highest