Rockaway, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Rockaway Neighborhoods Since 2000




Rockaway, 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

Rockaway Housing Market Information

With a population of 6,494, 2,510 total housing units (homes and apartments), and a median house value of $356,326, real estate costs in Rockaway 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 Rockaway, accounting for 64.22% of the borough's housing units. Other types of housing that are prevalent in Rockaway include large apartment complexes or high rise apartments ( 17.78%), duplexes, homes converted to apartments or other small apartment buildings ( 9.70%), and a few row houses and other attached homes ( 6.86%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rockaway. Owner-occupied housing accounts for 70.06% of Rockaway's homes, and 61.20% 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. Rockaway's housing was primarily built during this period, from the '40s through the '60s. A full 34.75% of the borough's housing hails from this era. Other housing ages represented in Rockaway include homes built between 1970-1999 ( 32.20%) and housing constructed before 1939 ( 30.51%). There's also some housing in Rockaway built between 2000 and later ( 2.55%).

Rockaway Home Appreciation Rates

Rockaway's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rockaway during the period has been just -1.89%, which is lower than 80% of US communities.

Over the last year, Rockaway appreciation rates have trailed the rest of the nation. In the last twelve months, Rockaway's appreciation rate has been 2.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rockaway were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Rockaway'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 borough. Individual neighborhoods within Rockaway differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rockaway - 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 Rockaway real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$356,326

Rockaway, NJ HOME PRICES

Value Range
> $1,072,000 0.0
$804,001 - $1,072,000 0.0
$536,001 - $804,000 4.6
$429,001 - $536,000 17.5
$321,001 - $429,000 42.6
$214,001 - $321,000 28.5
$107,001 - $214,000 2.7
$54,001 - $107,000 0.0
$0 - $54,000 4.2

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
11.7309269893355 50.0

Number Of Homes And Apartments:
2,510

Rockaway 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
48.29% 2.31% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,744 / per month

Homeownership Rate

Homeownership
Owners 70.06
Renters 29.94
Vacant 7.41

Housing Market Details

 

Age of Homes

AGE OF Rockaway HOMES
2000 or Newer 2.5
1970 - 1999 32.2
1940 - 1969 34.7
1939 or Older 30.5

Types of Homes

TYPE OF Rockaway HOMES
Single-Family 64.2
Townhomes 6.9
Small Apt. Buildings 9.7
Apt. Complexes 17.8
Mobile Homes 1.4
Other 0.0

Home Size

SIZE OF Rockaway HOMES
No Bedroom 3.58
1 Bedroom 8.71
2 Bedrooms 20.44
3 Bedrooms 38.29
4 Bedrooms 22.91
5 or more bedrooms 6.09