Ridgewood, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Ridgewood, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Ridgewood Housing Market Information

With 25,692 people, 8,352 houses or apartments, and a median cost of homes of $726,357, Ridgewood house prices are not only among the most expensive in New Jersey, Ridgewood real estate also is some of the most expensive in all of America.

Ridgewood is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Ridgewood 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 Ridgewood. Owner-occupied housing accounts for 76.07% of Ridgewood's homes, and 60.90% have either three or four bedrooms, which is average sized relative to America.

The housing in Ridgewood was primarily built before 1939 ( 44.23%), making the housing stock in Ridgewood some of the oldest overall in America, although there is a range of ages of homes in Ridgewood. The next most important housing age is between 1940-1969 ( 42.03%), followed by between 1970-1999 ( 11.02%). There's also some housing in Ridgewood built between 2000 and later ( 2.72%).

Ridgewood Home Appreciation Rates

Appreciation rates for homes in Ridgewood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 16.97%, which ranks in the top 50% nationwide. This equates to an annual average Ridgewood house appreciation rate of 1.58%.

Over the last year, Ridgewood appreciation rates have trailed the rest of the nation. In the last twelve months, Ridgewood's appreciation rate has been 1.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ridgewood were at 0.62%, which equates to an annual appreciation rate of 2.49%.

Relative to New Jersey, our data show that Ridgewood's latest annual appreciation rate is lower than 50% 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 village. Individual neighborhoods within Ridgewood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ridgewood - 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 Ridgewood real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$726,357

Ridgewood, NJ HOME PRICES

Value Range
> $1,117,000 22.8
$838,001 - $1,117,000 25.9
$559,001 - $838,000 32.6
$447,001 - $559,000 10.9
$335,001 - $447,000 3.6
$223,001 - $335,000 2.0
$112,001 - $223,000 0.7
$56,001 - $112,000 0.7
$0 - $56,000 0.8

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
2.91386861313869 10.1010101010101

Number Of Homes And Apartments:
8,352

Ridgewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
84.51% 3.23%
8
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,711 / per month

Homeownership Rate

Homeownership
Owners 76.07
Renters 23.93
Vacant 2.58

Housing Market Details

 

Age of Homes

AGE OF Ridgewood HOMES
2000 or Newer 2.7
1970 - 1999 11.0
1940 - 1969 42.0
1939 or Older 44.2

Types of Homes

TYPE OF Ridgewood HOMES
Single-Family 78.3
Townhomes 2.7
Small Apt. Buildings 10.4
Apt. Complexes 8.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Ridgewood HOMES
No Bedroom 1.32
1 Bedroom 7.99
2 Bedrooms 11.28
3 Bedrooms 28.29
4 Bedrooms 32.61
5 or more bedrooms 18.51