Scotch Plains, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Scotch Plains Neighborhoods Since 2000




Scotch Plains, 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

Scotch Plains Housing Market Information

With 24,149 people, 2,267 houses or apartments, and a median cost of homes of $562,926, Scotch Plains house prices are not only among the most expensive in New Jersey, Scotch Plains real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Scotch Plains, accounting for 76.63% of the town's housing units. Other types of housing that are prevalent in Scotch Plains include duplexes, homes converted to apartments or other small apartment buildings ( 8.37%), large apartment complexes or high rise apartments ( 8.28%), and a few row houses and other attached homes ( 6.46%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Scotch Plains. Owner-occupied housing accounts for 78.11% of Scotch Plains's homes, and 64.47% 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. Scotch Plains's housing was primarily built during this period, from the '40s through the '60s. A full 50.34% of the town's housing hails from this era. Other housing ages represented in Scotch Plains include homes built between 1970-1999 ( 30.58%) and housing constructed before 1939 ( 10.78%). There's also some housing in Scotch Plains built between 2000 and later ( 8.29%).

Scotch Plains Home Appreciation Rates

Real estate appreciation rates in Scotch Plains's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.08% during the period.

NeighborhoodScout's data show that during the latest twelve months, Scotch Plains's appreciation rate, at 3.85%, has been at or slightly above the national average. In the latest quarter, Scotch Plains's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Scotch Plains's latest annual appreciation rate is higher than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$562,926

Scotch Plains, NJ HOME PRICES

Value Range
> $1,109,000 5.1
$833,001 - $1,109,000 9.7
$555,001 - $833,000 27.6
$444,001 - $555,000 21.8
$333,001 - $444,000 21.3
$222,001 - $333,000 9.2
$111,001 - $222,000 2.1
$56,001 - $111,000 0.9
$0 - $56,000 2.2

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
4.46501816477206 18.6991869918699

Number Of Homes And Apartments:
2,267

Scotch Plains 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
68.38% 3.07% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,951 / per month

Homeownership Rate

Homeownership
Owners 78.11
Renters 21.89
Vacant 4.27

Housing Market Details

 

Age of Homes

AGE OF Scotch Plains HOMES
2000 or Newer 8.3
1970 - 1999 30.6
1940 - 1969 50.3
1939 or Older 10.8

Types of Homes

TYPE OF Scotch Plains HOMES
Single-Family 76.6
Townhomes 6.5
Small Apt. Buildings 8.4
Apt. Complexes 8.3
Mobile Homes 0.0
Other 0.3

Home Size

SIZE OF Scotch Plains HOMES
No Bedroom 0.07
1 Bedroom 12.35
2 Bedrooms 13.69
3 Bedrooms 32.91
4 Bedrooms 31.55
5 or more bedrooms 9.43