Plainsboro, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Plainsboro Neighborhoods Since 2000




Plainsboro, 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

Plainsboro Housing Market Information

With a population of 23,621, 1,978 total housing units (homes and apartments), and a median house value of $415,457, real estate costs in Plainsboro 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.

Large apartment complexes or high rise apartments are the single most common housing type in Plainsboro, accounting for 52.31% of the town's housing units. Other types of housing that are prevalent in Plainsboro include single-family detached homes ( 28.22%), row houses and other attached homes ( 12.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.80%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Plainsboro primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Plainsboro has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Plainsboro 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 Plainsboro built between 2000 and later ( 11.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.98%). There's also some housing in Plainsboro built before 1939 ( 1.76%).

Vacant housing appears to be an issue in Plainsboro. Fully 10.34% of the housing stock is classified as vacant. Left unchecked, vacant Plainsboro homes and apartments can be a drag on the real estate market, holding Plainsboro 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.

Plainsboro Home Appreciation Rates

Appreciation rates for homes in Plainsboro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.04%, which ranks in the top 50% nationwide. This equates to an annual average Plainsboro house appreciation rate of 0.30%.

Over the last year, Plainsboro appreciation rates have trailed the rest of the nation. In the last twelve months, Plainsboro's appreciation rate has been 2.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Plainsboro were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$415,457

Plainsboro, NJ HOME PRICES

Value Range
> $1,113,000 2.3
$834,001 - $1,113,000 7.3
$557,001 - $834,000 22.6
$445,001 - $557,000 15.0
$334,001 - $445,000 15.2
$222,001 - $334,000 17.4
$111,001 - $222,000 16.7
$56,001 - $111,000 2.7
$0 - $56,000 0.6

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
8.71909058947615 36.7886178861789

Number Of Homes And Apartments:
1,978

Plainsboro 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
84.26% 3.61% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,930 / per month

Homeownership Rate

Homeownership
Owners 50.20
Renters 49.80
Vacant 10.34

Housing Market Details

 

Age of Homes

AGE OF Plainsboro HOMES
2000 or Newer 11.9
1970 - 1999 79.3
1940 - 1969 7.0
1939 or Older 1.8

Types of Homes

TYPE OF Plainsboro HOMES
Single-Family 28.2
Townhomes 12.7
Small Apt. Buildings 6.8
Apt. Complexes 52.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Plainsboro HOMES
No Bedroom 2.56
1 Bedroom 27.43
2 Bedrooms 36.32
3 Bedrooms 13.24
4 Bedrooms 16.10
5 or more bedrooms 4.35