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 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

Short Hills Housing Market Information

With 13,446 people, 4,002 houses or apartments, and a median cost of homes of $1,449,960, 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 ( 91.85%).

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 50.33% of the town's housing hails from this era. Other housing ages represented in Short Hills include homes built before 1939 ( 30.86%) and housing constructed between 1970-1999 ( 12.17%). There's also some housing in Short Hills built between 2000 and later ( 6.65%).

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 21.03% over the last ten years, which is an average annual home appreciation rate of 1.93%, 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.

NeighborhoodScout's data show that during the latest twelve months, Short Hills's appreciation rate, at 4.93%, has been at or slightly above the national average. In the latest quarter, Short Hills's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$1,449,960

Short Hills, NJ HOME PRICES

Value Range
> $1,153,000 67.4
$865,001 - $1,153,000 17.7
$576,001 - $865,000 9.5
$461,001 - $576,000 1.4
$346,001 - $461,000 1.4
$230,001 - $346,000 1.2
$115,001 - $230,000 0.3
$58,001 - $115,000 0.2
$0 - $58,000 0.8

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
0.468768311262159 1.21951219512195

Number Of Homes And Apartments:
4,002

Short Hills 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
101.07% 4.13% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,885 / per month

Homeownership Rate

Homeownership
Owners 91.85
Renters 8.15
Vacant 3.59

Housing Market Details

 

Age of Homes

AGE OF Short Hills HOMES
2000 or Newer 6.6
1970 - 1999 12.2
1940 - 1969 50.3
1939 or Older 30.9

Types of Homes

TYPE OF Short Hills HOMES
Single-Family 93.0
Townhomes 0.7
Small Apt. Buildings 2.2
Apt. Complexes 4.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Short Hills HOMES
No Bedroom 0.14
1 Bedroom 3.71
2 Bedrooms 2.84
3 Bedrooms 21.27
4 Bedrooms 31.70
5 or more bedrooms 40.33

Popular Neighborhoods in Short Hills

Zip Codes in Short Hills, NJ