Rumson, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Rumson Neighborhoods Since 2000




Rumson, 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

Rumson Housing Market Information

With 6,926 people, 2,298 houses or apartments, and a median cost of homes of $918,470, Rumson house prices are not only among the most expensive in New Jersey, Rumson real estate also is some of the most expensive in all of America.

Rumson is a borough of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Rumson than is found in 98% of the communities in America.

The large homes that make up Rumson are primarily owner-occupied ( 88.63%).

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. Rumson's housing was primarily built during this period, from the '40s through the '60s. A full 35.86% of the borough's housing hails from this era. Other housing ages represented in Rumson include homes built before 1939 ( 23.43%) and housing constructed between 1970-1999 ( 21.13%). There's also some housing in Rumson built between 2000 and later ( 19.58%).

Vacant housing appears to be an issue in Rumson. Fully 10.72% of the housing stock is classified as vacant. Left unchecked, vacant Rumson homes and apartments can be a drag on the real estate market, holding Rumson real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Rumson Home Appreciation Rates

Appreciation rates for homes in Rumson have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.21%, which ranks in the top 30% nationwide. This equates to an annual average Rumson house appreciation rate of 0.88%.

Over the last year, Rumson appreciation rates have trailed the rest of the nation. In the last twelve months, Rumson's appreciation rate has been -0.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rumson were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Rumson's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$918,470

Rumson, NJ HOME PRICES

Value Range
> $1,106,000 47.0
$829,001 - $1,106,000 17.8
$553,001 - $829,000 20.0
$442,001 - $553,000 5.6
$332,001 - $442,000 6.4
$221,001 - $332,000 1.6
$110,001 - $221,000 0.4
$55,001 - $110,000 0.4
$0 - $55,000 0.9

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
1.33598968709715 3.45528455284553

Number Of Homes And Apartments:
2,298

Rumson 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
101.08% 4.13% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,723 / per month

Homeownership Rate

Homeownership
Owners 88.63
Renters 11.37
Vacant 10.72

Housing Market Details

 

Age of Homes

AGE OF Rumson HOMES
2000 or Newer 19.6
1970 - 1999 21.1
1940 - 1969 35.9
1939 or Older 23.4

Types of Homes

TYPE OF Rumson HOMES
Single-Family 93.8
Townhomes 2.7
Small Apt. Buildings 1.9
Apt. Complexes 0.8
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Rumson HOMES
No Bedroom 1.36
1 Bedroom 1.40
2 Bedrooms 11.85
3 Bedrooms 20.86
4 Bedrooms 38.77
5 or more bedrooms 25.76