Scotch Plains NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Scotch Plains Housing Market Information

With 24,351 people, 2,298 houses or apartments, and a median cost of homes of $636,970, 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.

Mobile homes or trailers are the single most common housing type in Scotch Plains, accounting for 0.00% of the town's housing units.

Owner-occupied, three and four bedroom dwellings, primarily in mobile homes or trailers are the most prevalent type of housing you will see in Scotch Plains. Owner-occupied housing accounts for 80.59% of Scotch Plains's homes, and 64.37% 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 54.37% of the town's housing hails from this era. Other housing ages represented in Scotch Plains include homes built between 1970-1999 ( 29.03%) and housing constructed before 1939 ( 9.81%). There's also some housing in Scotch Plains built between 2000 and later ( 6.80%).

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 1.85% during the period.

Over the last year, Scotch Plains appreciation rates have trailed the rest of the nation. In the last twelve months, Scotch Plains's appreciation rate has been 2.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Scotch Plains were at 0.47%, which equates to an annual appreciation rate of 1.87%.

Notably, Scotch Plains's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$636,970

Scotch Plains, NJ HOME PRICES

Value Range
> $1,142,000 4.8
$856,001 - $1,142,000 12.1
$571,001 - $856,000 29.2
$457,001 - $571,000 21.1
$343,001 - $457,000 22.6
$228,001 - $343,000 5.1
$114,001 - $228,000 2.0
$57,001 - $114,000 1.0
$0 - $57,000 2.1

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
4.20437956204379 16.5656565656566

Number Of Homes And Apartments:
2,298

Scotch Plains Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
81.54% 3.07%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,281 / per month

Homeownership Rate

Homeownership
Owners 80.59
Renters 19.41
Vacant 4.61

Housing Market Details

 

Age of Homes

AGE OF Scotch Plains HOMES
2000 or Newer 6.8
1970 - 1999 29.0
1940 - 1969 54.4
1939 or Older 9.8

Types of Homes

TYPE OF Scotch Plains HOMES
Single-Family 0.0
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Scotch Plains HOMES
No Bedroom 0.53
1 Bedroom 11.40
2 Bedrooms 14.12
3 Bedrooms 33.28
4 Bedrooms 31.09
5 or more bedrooms 9.57