Ridgefield Park, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Ridgefield Park Neighborhoods Since 2000




Ridgefield Park, 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

Ridgefield Park Housing Market Information

With 13,102 people, 4,633 houses or apartments, and a median cost of homes of $347,858, real estate costs in Ridgefield Park 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 Ridgefield Park, accounting for 41.97% of the village's housing units. Other types of housing that are prevalent in Ridgefield Park include duplexes, homes converted to apartments or other small apartment buildings ( 31.84%), large apartment complexes or high rise apartments ( 24.53%), and a few row houses and other attached homes ( 1.66%).

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

The housing in Ridgefield Park was primarily built before 1939 ( 49.97%), making the housing stock in Ridgefield Park some of the oldest overall in America, although there is a range of ages of homes in Ridgefield Park. The next most important housing age is between 1940-1969 ( 35.42%), followed by between 1970-1999 ( 12.59%). There's also some housing in Ridgefield Park built between 2000 and later ( 2.02%).

Ridgefield Park Home Appreciation Rates

Homes have actually lost value in Ridgefield Park over the last then years, as home values have seen a decline of 21.10% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Ridgefield Park home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Appreciation rates are so strong in Ridgefield Park that despite a nationwide downturn in the housing market, Ridgefield Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ridgefield Park appreciation rates continue to be some of the highest in America, at 6.43%, which is higher than appreciation rates in 77.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ridgefield Park. Ridgefield Park appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Ridgefield Park's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$347,858

Ridgefield Park, NJ HOME PRICES

Value Range
> $1,114,000 0.7
$836,001 - $1,114,000 0.3
$557,001 - $836,000 7.2
$446,001 - $557,000 14.7
$334,001 - $446,000 34.1
$223,001 - $334,000 30.7
$111,001 - $223,000 9.2
$56,001 - $111,000 2.0
$0 - $56,000 1.1

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.375483417321 52.2357723577236

Number Of Homes And Apartments:
4,633

Ridgefield Park 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
52.75% 2.49% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,723 / per month

Homeownership Rate

Homeownership
Owners 55.83
Renters 44.17
Vacant 7.28

Housing Market Details

 

Age of Homes

AGE OF Ridgefield Park HOMES
2000 or Newer 2.0
1970 - 1999 12.6
1940 - 1969 35.4
1939 or Older 50.0

Types of Homes

TYPE OF Ridgefield Park HOMES
Single-Family 42.0
Townhomes 1.7
Small Apt. Buildings 31.8
Apt. Complexes 24.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Ridgefield Park HOMES
No Bedroom 4.74
1 Bedroom 25.34
2 Bedrooms 25.52
3 Bedrooms 32.66
4 Bedrooms 9.29
5 or more bedrooms 2.46

Popular Neighborhoods in Ridgefield Park

Zip Codes in Ridgefield Park, NJ