South Amboy, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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South Amboy, 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

South Amboy Housing Market Information

With a population of 8,846, 3,775 total housing units (homes and apartments), and a median house value of $351,678, real estate costs in South Amboy are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in South Amboy, accounting for 56.26% of the city's housing units. Other types of housing that are prevalent in South Amboy include duplexes, homes converted to apartments or other small apartment buildings ( 16.73%), large apartment complexes or high rise apartments ( 13.77%), and a few row houses and other attached homes ( 13.01%).

The most prevalent building size and type in South Amboy are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.82% owning and 35.18% renting.

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. South Amboy's housing was primarily built during this period, from the '40s through the '60s. A full 38.44% of the city's housing hails from this era. Other housing ages represented in South Amboy include homes built before 1939 ( 32.84%) and housing constructed between 1970-1999 ( 16.17%). There's also some housing in South Amboy built between 2000 and later ( 12.55%).

South Amboy Home Appreciation Rates

South Amboy's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Amboy during the period has been just -1.94%, which is lower than 80% of US communities.

Appreciation rates are so strong in South Amboy that despite a nationwide downturn in the housing market, South Amboy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Amboy appreciation rates continue to be some of the highest in America, at 6.11%, which is higher than appreciation rates in 74.95% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Amboy. South Amboy appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within South Amboy differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South Amboy - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best South Amboy real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$351,678

South Amboy, NJ HOME PRICES

Value Range
> $1,117,000 0.9
$838,001 - $1,117,000 1.8
$559,001 - $838,000 4.5
$447,001 - $559,000 7.0
$335,001 - $447,000 22.0
$223,001 - $335,000 44.8
$112,001 - $223,000 15.4
$56,001 - $112,000 1.0
$0 - $56,000 2.6

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.0649244111098 51.219512195122

Number Of Homes And Apartments:
3,775

South Amboy 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
60.44% 2.78% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,802 / per month

Homeownership Rate

Homeownership
Owners 64.82
Renters 35.18
Vacant 3.90

Housing Market Details

 

Age of Homes

AGE OF South Amboy HOMES
2000 or Newer 12.6
1970 - 1999 16.2
1940 - 1969 38.4
1939 or Older 32.8

Types of Homes

TYPE OF South Amboy HOMES
Single-Family 56.3
Townhomes 13.0
Small Apt. Buildings 16.7
Apt. Complexes 13.8
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF South Amboy HOMES
No Bedroom 0.66
1 Bedroom 13.26
2 Bedrooms 30.93
3 Bedrooms 39.03
4 Bedrooms 13.11
5 or more bedrooms 3.00