River Edge, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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River Edge, 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

River Edge Housing Market Information

With 11,668 people, 3,949 houses or apartments, and a median cost of homes of $498,299, real estate costs in River Edge 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 River Edge, accounting for 76.53% of the borough's housing units. Other types of housing that are prevalent in River Edge include duplexes, homes converted to apartments or other small apartment buildings ( 12.84%), large apartment complexes or high rise apartments ( 7.86%), and a few row houses and other attached homes ( 2.46%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in River Edge. Owner-occupied housing accounts for 74.34% of River Edge's homes, and 68.42% 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. River Edge's housing was primarily built during this period, from the '40s through the '60s. A full 56.00% of the borough's housing hails from this era. Other housing ages represented in River Edge include homes built before 1939 ( 29.31%) and housing constructed between 1970-1999 ( 10.75%). There's also some housing in River Edge built between 2000 and later ( 3.94%).

River Edge Home Appreciation Rates

Real estate appreciation rates in River Edge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.76% during the period.

Over the last year, River Edge appreciation rates have trailed the rest of the nation. In the last twelve months, River Edge's appreciation rate has been 2.75%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in River Edge were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that River Edge's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$498,299

River Edge, NJ HOME PRICES

Value Range
> $1,084,000 2.8
$813,001 - $1,084,000 4.2
$542,001 - $813,000 28.4
$434,001 - $542,000 32.0
$325,001 - $434,000 19.9
$217,001 - $325,000 8.0
$108,001 - $217,000 2.3
$54,001 - $108,000 0.0
$0 - $54,000 2.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
6.00023438415563 25.609756097561

Number Of Homes And Apartments:
3,949

River Edge 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
57.49% 2.67% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,125 / per month

Homeownership Rate

Homeownership
Owners 74.34
Renters 25.66
Vacant 2.66

Housing Market Details

 

Age of Homes

AGE OF River Edge HOMES
2000 or Newer 3.9
1970 - 1999 10.7
1940 - 1969 56.0
1939 or Older 29.3

Types of Homes

TYPE OF River Edge HOMES
Single-Family 76.5
Townhomes 2.5
Small Apt. Buildings 12.8
Apt. Complexes 7.9
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF River Edge HOMES
No Bedroom 0.20
1 Bedroom 10.89
2 Bedrooms 14.74
3 Bedrooms 41.75
4 Bedrooms 26.67
5 or more bedrooms 5.74

Popular Neighborhoods in River Edge

Zip Codes in River Edge, NJ