Ridgefield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ridgefield, 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 Housing Market Information

With a population of 11,373, 4,002 total housing units (homes and apartments), and a median house value of $533,200, real estate costs in Ridgefield 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.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Ridgefield, accounting for 44.88% of the borough's housing units. Other types of housing that are prevalent in Ridgefield include single-family detached homes ( 39.12%), large apartment complexes or high rise apartments ( 11.51%), and a few row houses and other attached homes ( 3.99%). This particular housing mix is relatively uncommon and characteristic of boroughs that are compact and walkable, and which often have a lively downtown.

People in Ridgefield primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Ridgefield 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. Ridgefield's housing was primarily built during this period, from the '40s through the '60s. A full 56.06% of the borough's housing hails from this era. Other housing ages represented in Ridgefield include homes built before 1939 ( 21.84%) and housing constructed between 1970-1999 ( 17.58%). There's also some housing in Ridgefield built between 2000 and later ( 4.51%).

Ridgefield Home Appreciation Rates

Ridgefield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ridgefield during the period has been just -1.02%, which is lower than 70% of US communities.

Appreciation rates are so strong in Ridgefield that despite a nationwide downturn in the housing market, Ridgefield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ridgefield appreciation rates continue to be some of the highest in America, at 6.82%, which is higher than appreciation rates in 80.08% 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. Ridgefield 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's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$533,200

Ridgefield, NJ HOME PRICES

Value Range
> $1,156,000 0.8
$867,001 - $1,156,000 10.9
$578,001 - $867,000 29.8
$463,001 - $578,000 20.6
$347,001 - $463,000 25.7
$231,001 - $347,000 8.2
$116,001 - $231,000 2.4
$58,001 - $116,000 0.8
$0 - $58,000 0.9

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
5.10957459275753 22.7642276422764

Number Of Homes And Apartments:
4,002

Ridgefield 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
58.55% 2.71% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,925 / per month

Homeownership Rate

Homeownership
Owners 52.13
Renters 47.87
Vacant 5.41

Housing Market Details

 

Age of Homes

AGE OF Ridgefield HOMES
2000 or Newer 4.5
1970 - 1999 17.6
1940 - 1969 56.1
1939 or Older 21.8

Types of Homes

TYPE OF Ridgefield HOMES
Single-Family 39.1
Townhomes 4.0
Small Apt. Buildings 44.9
Apt. Complexes 11.5
Mobile Homes 0.0
Other 0.5

Home Size

SIZE OF Ridgefield HOMES
No Bedroom 2.17
1 Bedroom 13.97
2 Bedrooms 36.09
3 Bedrooms 33.28
4 Bedrooms 13.21
5 or more bedrooms 1.28

Popular Neighborhoods in Ridgefield

Zip Codes in Ridgefield, NJ