Pompton Lakes, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pompton Lakes, NJ Real Estate Data


Pompton Lakes Housing Market Information

With a population of 11,202, 4,151 total housing units (homes and apartments), and a median house value of $334,309, real estate costs in Pompton Lakes 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 Pompton Lakes, accounting for 61.70% of the borough's housing units. Other types of housing that are prevalent in Pompton Lakes include large apartment complexes or high rise apartments ( 18.16%), duplexes, homes converted to apartments or other small apartment buildings ( 10.28%), and a few row houses and other attached homes ( 9.86%).

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 78.17% of Pompton Lakes's homes, and 55.83% 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 55.43% of the borough's housing hails from this era. Other housing ages represented in Pompton Lakes include homes built between 1970-1999 ( 21.55%) and housing constructed before 1939 ( 14.97%). There's also some housing in Pompton Lakes built between 2000 and later ( 8.05%).

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 24.51% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Pompton Lakes home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

NeighborhoodScout's data show that during the latest twelve months, Pompton Lakes's appreciation rate, at 4.45%, has been at or slightly above the national average. In the latest quarter, Pompton Lakes's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

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

Average Home Values

 

Median Home Value:
$334,309

Pompton Lakes, NJ HOME PRICES

Value Range
> $1,058,000 0.0
$793,001 - $1,058,000 0.0
$529,001 - $793,000 3.2
$423,001 - $529,000 21.0
$317,001 - $423,000 29.6
$211,001 - $317,000 31.5
$106,001 - $211,000 9.5
$53,001 - $106,000 2.2
$0 - $53,000 2.9

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
13.7436317854424 56.0975609756098

Number Of Homes And Apartments:
4,151

Rent & Ownership

 

Average Market Rent:
$1,580 / per month

Homeownership Rate

Homeownership
Owners 78.17
Renters 21.83
Vacant 7.41

Housing Market Details

 

Age of Homes

AGE OF Pompton Lakes HOMES
2000 or Newer 8.1
1970 - 1999 21.5
1940 - 1969 55.4
1939 or Older 15.0

Types of Homes

TYPE OF Pompton Lakes HOMES
Single-Family 61.7
Townhomes 9.9
Small Apt. Buildings 10.3
Apt. Complexes 18.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Pompton Lakes HOMES
No Bedroom 0.31
1 Bedroom 13.41
2 Bedrooms 25.25
3 Bedrooms 33.57
4 Bedrooms 22.26
5 or more bedrooms 5.20

Pompton Lakes 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
38.29% 1.93% 2 4
* 10 is highest

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Zip Codes in Pompton Lakes, NJ