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Rahway, NJ Real Estate Market

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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rahway, NJ Housing Market Trends

With 29,556 people, 11,621 houses or apartments, and a median cost of homes of $359,092, Rahway real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Rahway, accounting for 50.62% of the city's housing units. Other types of housing that are prevalent in Rahway include large apartment complexes or high rise apartments ( 27.09%), duplexes, homes converted to apartments or other small apartment buildings ( 13.63%), and a few row houses and other attached homes ( 6.77%).

People in Rahway primarily live in small (one, two or no bedroom) single-family detached homes. Rahway has a mixture of owner-occupied and renter-occupied housing.

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. Rahway's housing was primarily built during this period, from the '40s through the '60s. A full 42.63% of the city's housing hails from this era. Other housing ages represented in Rahway include homes built between 2000 and later ( 19.81%) and housing constructed between 1970-1999 ( 19.46%). There's also some housing in Rahway built before 1939 ( 18.10%).

Rahway Home Appreciation Rates

Appreciation rates for homes in Rahway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 68.65%, which ranks in the top 50% nationwide. This equates to an annual average Rahway house appreciation rate of 5.37%.

NeighborhoodScout's data show that during the latest twelve months, Rahway's appreciation rate, at 13.18%, has been at or slightly above the national average. In the latest quarter, Rahway's appreciation rate has been 0.99%, which annualizes to a rate of 4.03%.

Notably, Rahway's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New Jersey, our data show that Rahway's latest annual appreciation rate is higher than 70% 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 Rahway differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rahway - 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 Rahway real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$359,092

Rahway, NJ HOME PRICES

> $1,356,000
$1,017,001 - $1,356,000
$678,001 - $1,017,000
$542,001 - $678,000
$407,001 - $542,000
$271,001 - $407,000
$136,001 - $271,000
$68,001 - $136,000
$0 - $68,000
0.5%
0.5%
0.5%
0.5%
2.4%
2.4%
4.8%
4.8%
30.4%
30.4%
42.2%
42.2%
16.1%
16.1%
0.6%
0.6%
2.7%
2.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
11,621

Rahway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
136.38% 3.90%
8
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,492 / per month

Homeownership Rate

Owners
Renters
Vacant
57.3%
57.3%
42.7%
42.7%
5.1%
5.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.8%
19.8%
19.5%
19.5%
42.6%
42.6%
18.1%
18.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
50.6%
50.6%
6.8%
6.8%
13.6%
13.6%
27.1%
27.1%
0.0%
0.0%
1.9%
1.9%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.5%
4.5%
17.3%
17.3%
29.2%
29.2%
34.4%
34.4%
12.1%
12.1%
2.5%
2.5%
0.0% 100.0%
% OF HOMES