Short Hills NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Short Hills, 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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Short Hills Housing Market Information

With a population of 13,446, 4,050 total housing units (homes and apartments), and a median house value of $1,738,002, Short Hills house prices are not only among the most expensive in New Jersey, Short Hills real estate also is some of the most expensive in all of America.

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

The large homes that make up Short Hills are primarily owner-occupied ( 91.43%).

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. Short Hills's housing was primarily built during this period, from the '40s through the '60s. A full 46.43% of the town's housing hails from this era. Other housing ages represented in Short Hills include homes built before 1939 ( 32.00%) and housing constructed between 1970-1999 ( 12.02%). There's also some housing in Short Hills built between 2000 and later ( 9.55%).

Short Hills Home Appreciation Rates

In the last 10 years, Short Hills has experienced some of the highest home appreciation rates of any community in the nation. Short Hills real estate appreciated 44.98% over the last ten years, which is an average annual home appreciation rate of 3.78%, putting Short Hills in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Short Hills definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Short Hills appreciation rates have trailed the rest of the nation. In the last twelve months, Short Hills's appreciation rate has been 3.28%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Short Hills were at 1.08%, which equates to an annual appreciation rate of 4.41%.

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

Average Home Values

 

Median Home Value:
$1,738,002

Short Hills, NJ HOME PRICES

Value Range
> $1,151,000 74.5
$863,001 - $1,151,000 13.9
$575,001 - $863,000 6.8
$460,001 - $575,000 1.7
$345,001 - $460,000 0.5
$230,001 - $345,000 1.0
$115,001 - $230,000 0.9
$58,001 - $115,000 0.0
$0 - $58,000 0.7

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
0.373722627737226 1.41414141414141

Number Of Homes And Apartments:
4,050

Short Hills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
125.00% 4.14%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$5,307 / per month

Homeownership Rate

Homeownership
Owners 91.43
Renters 8.57
Vacant 2.62

Housing Market Details

 

Age of Homes

AGE OF Short Hills HOMES
2000 or Newer 9.5
1970 - 1999 12.0
1940 - 1969 46.4
1939 or Older 32.0

Types of Homes

TYPE OF Short Hills HOMES
Single-Family 93.2
Townhomes 1.5
Small Apt. Buildings 1.5
Apt. Complexes 3.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Short Hills HOMES
No Bedroom 0.24
1 Bedroom 2.43
2 Bedrooms 4.88
3 Bedrooms 19.07
4 Bedrooms 34.74
5 or more bedrooms 38.64

Popular Neighborhoods in Short Hills

Zip Codes in Short Hills, NJ