Somerdale, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Somerdale Neighborhoods Since 2000




Somerdale, NJ Real Estate Data


Somerdale Housing Market Information

With 5,460 people, 2,143 houses or apartments, and a median cost of homes of $159,619, Somerdale real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Somerdale homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Somerdale, accounting for 70.13% of the borough's housing units. Other types of housing that are prevalent in Somerdale include large apartment complexes or high rise apartments ( 19.17%), duplexes, homes converted to apartments or other small apartment buildings ( 6.29%), and a few row houses and other attached homes ( 4.41%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Somerdale. Owner-occupied housing accounts for 69.46% of Somerdale's homes, and 61.70% 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. Somerdale's housing was primarily built during this period, from the '40s through the '60s. A full 63.10% of the borough's housing hails from this era. Other housing ages represented in Somerdale include homes built between 1970-1999 ( 21.44%) and housing constructed before 1939 ( 8.91%). There's also some housing in Somerdale built between 2000 and later ( 6.55%).

Somerdale Home Appreciation Rates

Homes have actually lost value in Somerdale over the last then years, as home values have seen a decline of 24.64% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Somerdale home appreciation rates at -1.95%, which equates to an annual appreciation rate of -7.57%.

Over the last year, Somerdale appreciation rates have trailed the rest of the nation. In the last twelve months, Somerdale's appreciation rate has been -2.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Somerdale were at -1.95%, which equates to an annual appreciation rate of -7.57%.

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

Relative to New Jersey, our data show that Somerdale's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$159,619

Somerdale, NJ HOME PRICES

Value Range
> $975,000 0.0
$731,001 - $975,000 0.0
$487,001 - $731,000 0.4
$390,001 - $487,000 0.7
$292,001 - $390,000 0.5
$195,001 - $292,000 21.9
$98,001 - $195,000 67.2
$49,001 - $98,000 5.3
$0 - $49,000 4.0

Very Low for NJ
Average for Nation

Value Relative to Nation Value Relative to State
45.5818586663542 94.5121951219512

Number Of Homes And Apartments:
2,143

Rent & Ownership

 

Average Market Rent:
$1,051 / per month

Homeownership Rate

Homeownership
Owners 69.46
Renters 30.54
Vacant 6.42

Housing Market Details

 

Age of Homes

AGE OF Somerdale HOMES
2000 or Newer 6.6
1970 - 1999 21.4
1940 - 1969 63.1
1939 or Older 8.9

Types of Homes

TYPE OF Somerdale HOMES
Single-Family 70.1
Townhomes 4.4
Small Apt. Buildings 6.3
Apt. Complexes 19.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Somerdale HOMES
No Bedroom 1.09
1 Bedroom 20.92
2 Bedrooms 13.32
3 Bedrooms 47.77
4 Bedrooms 13.93
5 or more bedrooms 2.97

Somerdale Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
43.34% 2.11% 3 5
* 10 is highest