Pompton Lakes, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pompton Lakes, 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

Pompton Lakes Housing Market Information

With a population of 11,202, 4,120 total housing units (homes and apartments), and a median house value of $306,074, Pompton Lakes real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Pompton Lakes, accounting for 61.51% of the borough's housing units. Other types of housing that are prevalent in Pompton Lakes include large apartment complexes or high rise apartments ( 19.88%), row houses and other attached homes ( 9.76%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.86%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pompton Lakes. Owner-occupied housing accounts for 74.81% of Pompton Lakes's homes, and 56.46% 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. Pompton Lakes's housing was primarily built during this period, from the '40s through the '60s. A full 54.83% of the borough's housing hails from this era. Other housing ages represented in Pompton Lakes include homes built between 1970-1999 ( 23.71%) and housing constructed before 1939 ( 14.87%). There's also some housing in Pompton Lakes built between 2000 and later ( 6.58%).

Pompton Lakes Home Appreciation Rates

Homes have actually lost value in Pompton Lakes over the last then years, as home values have seen a decline of 27.65% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Pompton Lakes home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Pompton Lakes appreciation rates have trailed the rest of the nation. In the last twelve months, Pompton Lakes's appreciation rate has been 0.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pompton Lakes were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$306,074

Pompton Lakes, NJ HOME PRICES

Value Range
> $1,036,000 0.0
$777,001 - $1,036,000 0.0
$518,001 - $777,000 4.4
$415,001 - $518,000 17.2
$311,001 - $415,000 26.0
$207,001 - $311,000 37.3
$103,001 - $207,000 11.3
$52,001 - $103,000 2.2
$0 - $52,000 1.5

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
15.8385093167702 61.3821138211382

Number Of Homes And Apartments:
4,120

Pompton Lakes 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
31.39% 1.60% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,872 / per month

Homeownership Rate

Homeownership
Owners 74.81
Renters 25.19
Vacant 7.14

Housing Market Details

 

Age of Homes

AGE OF Pompton Lakes HOMES
2000 or Newer 6.6
1970 - 1999 23.7
1940 - 1969 54.8
1939 or Older 14.9

Types of Homes

TYPE OF Pompton Lakes HOMES
Single-Family 61.5
Townhomes 9.8
Small Apt. Buildings 8.9
Apt. Complexes 19.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Pompton Lakes HOMES
No Bedroom 0.29
1 Bedroom 14.09
2 Bedrooms 23.75
3 Bedrooms 33.06
4 Bedrooms 23.39
5 or more bedrooms 5.41

Popular Neighborhoods in Pompton Lakes

Zip Codes in Pompton Lakes, NJ