Randolph, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Randolph, 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

Randolph Housing Market Information

With a population of 25,959, 1,855 total housing units (homes and apartments), and a median house value of $559,097, Randolph house prices are not only among the most expensive in New Jersey, Randolph real estate also is some of the most expensive in all of America.

Randolph is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Randolph than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Randolph. Owner-occupied housing accounts for 76.42% of Randolph's homes, and 62.70% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Randolph 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 Randolph built between 1940-1969 ( 27.45%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.37%). There's also some housing in Randolph built before 1939 ( 4.14%).

Randolph Home Appreciation Rates

Randolph's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Randolph during the period has been just -1.32%, which is lower than 70% of US communities.

Over the last year, Randolph appreciation rates have trailed the rest of the nation. In the last twelve months, Randolph's appreciation rate has been 2.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Randolph were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Randolph's latest annual appreciation rate is lower than 60% 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 Randolph differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Randolph - 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 Randolph real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$559,097

Randolph, NJ HOME PRICES

Value Range
> $1,066,000 2.6
$799,001 - $1,066,000 11.1
$533,001 - $799,000 36.0
$426,001 - $533,000 20.3
$320,001 - $426,000 21.4
$213,001 - $320,000 6.6
$107,001 - $213,000 0.7
$53,001 - $107,000 0.4
$0 - $53,000 0.9

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
4.55291222313372 19.9186991869919

Number Of Homes And Apartments:
1,855

Randolph 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
40.60% 1.99% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,012 / per month

Homeownership Rate

Homeownership
Owners 76.42
Renters 23.58
Vacant 2.53

Housing Market Details

 

Age of Homes

AGE OF Randolph HOMES
2000 or Newer 7.4
1970 - 1999 61.0
1940 - 1969 27.5
1939 or Older 4.1

Types of Homes

TYPE OF Randolph HOMES
Single-Family 74.9
Townhomes 4.4
Small Apt. Buildings 3.9
Apt. Complexes 16.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Randolph HOMES
No Bedroom 0.52
1 Bedroom 15.25
2 Bedrooms 8.86
3 Bedrooms 20.83
4 Bedrooms 41.87
5 or more bedrooms 12.67