Red Bank, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Red Bank Neighborhoods Since 2000




Red Bank, 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

Red Bank Housing Market Information

With a population of 12,204, 5,114 total housing units (homes and apartments), and a median house value of $423,680, real estate costs in Red Bank 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 Red Bank, accounting for 37.93% of the borough's housing units. Other types of housing that are prevalent in Red Bank include large apartment complexes or high rise apartments ( 32.12%), duplexes, homes converted to apartments or other small apartment buildings ( 21.05%), and a few row houses and other attached homes ( 8.91%).

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

The housing in Red Bank was primarily built before 1939 ( 40.90%), making the housing stock in Red Bank some of the oldest overall in America, although there is a range of ages of homes in Red Bank. The next most important housing age is between 1940-1969 ( 33.91%), followed by between 1970-1999 ( 20.31%). There's also some housing in Red Bank built between 2000 and later ( 4.88%).

Red Bank Home Appreciation Rates

Real estate appreciation rates in Red Bank's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.78% during the period.

NeighborhoodScout's data show that during the latest twelve months, Red Bank's appreciation rate, at 4.62%, has been at or slightly above the national average. In the latest quarter, Red Bank's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Red Bank'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 borough. Individual neighborhoods within Red Bank differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Red Bank - 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 Red Bank real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$423,680

Red Bank, NJ HOME PRICES

Value Range
> $1,110,000 1.5
$833,001 - $1,110,000 1.0
$555,001 - $833,000 11.2
$444,001 - $555,000 17.2
$333,001 - $444,000 24.9
$222,001 - $333,000 27.8
$111,001 - $222,000 14.6
$55,001 - $111,000 0.4
$0 - $55,000 1.5

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
8.39095277159264 35.1626016260163

Number Of Homes And Apartments:
5,114

Red Bank 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
79.17% 3.44% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,792 / per month

Homeownership Rate

Homeownership
Owners 45.86
Renters 54.14
Vacant 8.55

Housing Market Details

 

Age of Homes

AGE OF Red Bank HOMES
2000 or Newer 4.9
1970 - 1999 20.3
1940 - 1969 33.9
1939 or Older 40.9

Types of Homes

TYPE OF Red Bank HOMES
Single-Family 37.9
Townhomes 8.9
Small Apt. Buildings 21.0
Apt. Complexes 32.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Red Bank HOMES
No Bedroom 5.67
1 Bedroom 27.13
2 Bedrooms 26.57
3 Bedrooms 28.79
4 Bedrooms 8.39
5 or more bedrooms 3.45