Point Pleasant, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Point Pleasant Neighborhoods Since 2000




Point Pleasant, 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

Point Pleasant Housing Market Information

With a population of 18,523, 7,127 total housing units (homes and apartments), and a median house value of $396,384, real estate costs in Point Pleasant 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 Point Pleasant, accounting for 86.50% of the borough's housing units. Other types of housing that are prevalent in Point Pleasant include large apartment complexes or high rise apartments ( 6.08%), duplexes, homes converted to apartments or other small apartment buildings ( 4.55%), and a few row houses and other attached homes ( 2.88%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Point Pleasant. Owner-occupied housing accounts for 81.63% of Point Pleasant's homes, and 65.49% have either three or four bedrooms, which is average sized relative to America.

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. Point Pleasant's housing was primarily built during this period, from the '40s through the '60s. A full 53.55% of the borough's housing hails from this era. Other housing ages represented in Point Pleasant include homes built between 1970-1999 ( 31.63%) and housing constructed between 2000 and later ( 7.54%). There's also some housing in Point Pleasant built before 1939 ( 7.29%).

Vacant housing appears to be an issue in Point Pleasant. Fully 12.67% of the housing stock is classified as vacant. Left unchecked, vacant Point Pleasant homes and apartments can be a drag on the real estate market, holding Point Pleasant 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.

Point Pleasant Home Appreciation Rates

Point Pleasant's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Point Pleasant during the period has been just -1.06%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Point Pleasant's appreciation rate, at 4.41%, has been at or slightly above the national average. In the latest quarter, Point Pleasant's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Point Pleasant's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$396,384

Point Pleasant, NJ HOME PRICES

Value Range
> $1,085,000 2.5
$814,001 - $1,085,000 3.4
$543,001 - $814,000 13.5
$434,001 - $543,000 18.4
$326,001 - $434,000 30.8
$217,001 - $326,000 25.2
$109,001 - $217,000 2.9
$54,001 - $109,000 0.5
$0 - $54,000 2.7

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
9.63318879643736 41.6666666666667

Number Of Homes And Apartments:
7,127

Point Pleasant 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
83.37% 3.58% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,126 / per month

Homeownership Rate

Homeownership
Owners 81.63
Renters 18.37
Vacant 12.67

Housing Market Details

 

Age of Homes

AGE OF Point Pleasant HOMES
2000 or Newer 7.5
1970 - 1999 31.6
1940 - 1969 53.5
1939 or Older 7.3

Types of Homes

TYPE OF Point Pleasant HOMES
Single-Family 86.5
Townhomes 2.9
Small Apt. Buildings 4.5
Apt. Complexes 6.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Point Pleasant HOMES
No Bedroom 0.17
1 Bedroom 3.88
2 Bedrooms 24.38
3 Bedrooms 42.25
4 Bedrooms 23.24
5 or more bedrooms 6.07