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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 26,168 people, 8,692 houses or apartments, and a median cost of homes of $1,176,263, 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 82.39% of Ridgewood's homes, and 65.84% have either three or four bedrooms, which is average sized relative to America.
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. Ridgewood's housing was primarily built during this period, from the '40s through the '60s. A full 48.55% of the village's housing hails from this era. Other housing ages represented in Ridgewood include homes built before 1939 ( 36.70%) and housing constructed between 1970-1999 ( 11.57%). There's also some housing in Ridgewood built between 2000 and later ( 3.17%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Ridgewood, where house values have increased just 44.40%, which is annualized rate of 3.74%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Ridgewood's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Ridgewood's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
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.
$1,176,263
for New jersey
for nation
8,692
$5,713 / per month