Plainfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Plainfield Neighborhoods Since 2000




Plainfield, 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

Plainfield Housing Market Information

With a population of 51,217, 14,898 total housing units (homes and apartments), and a median house value of $229,599, Plainfield real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Plainfield homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Plainfield, accounting for 43.71% 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 ( 27.07%), large apartment complexes or high rise apartments ( 23.83%), and a few row houses and other attached homes ( 4.79%).

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 47.14% owning and 52.86% 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 42.32% of the city's housing hails from this era. Other housing ages represented in Plainfield include homes built before 1939 ( 34.80%) and housing constructed between 1970-1999 ( 18.52%). There's also some housing in Plainfield built between 2000 and later ( 4.36%).

Plainfield Home Appreciation Rates

Homes have actually lost value in Plainfield over the last then years, as home values have seen a decline of 25.90% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Plainfield home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

NeighborhoodScout's data show that during the latest twelve months, Plainfield's appreciation rate, at 4.76%, has been at or slightly above the national average. In the latest quarter, Plainfield's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Plainfield'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 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:
$229,599

Plainfield, NJ HOME PRICES

Value Range
> $1,092,000 0.3
$819,001 - $1,092,000 0.8
$546,001 - $819,000 3.9
$437,001 - $546,000 7.7
$328,001 - $437,000 16.1
$219,001 - $328,000 31.2
$109,001 - $219,000 32.7
$55,001 - $109,000 3.0
$0 - $55,000 4.3

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
25.8818703855619 80.2845528455285

Number Of Homes And Apartments:
14,898

Plainfield 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
41.93% 2.05% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,581 / per month

Homeownership Rate

Homeownership
Owners 47.14
Renters 52.86
Vacant 9.48

Housing Market Details

 

Age of Homes

AGE OF Plainfield HOMES
2000 or Newer 4.4
1970 - 1999 18.5
1940 - 1969 42.3
1939 or Older 34.8

Types of Homes

TYPE OF Plainfield HOMES
Single-Family 43.7
Townhomes 4.8
Small Apt. Buildings 27.1
Apt. Complexes 23.8
Mobile Homes 0.4
Other 0.2

Home Size

SIZE OF Plainfield HOMES
No Bedroom 4.33
1 Bedroom 15.93
2 Bedrooms 26.64
3 Bedrooms 31.17
4 Bedrooms 15.77
5 or more bedrooms 6.15