South Plainfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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South Plainfield, NJ Real Estate Data


South Plainfield Housing Market Information

With a population of 24,290, 8,035 total housing units (homes and apartments), and a median house value of $358,791, real estate costs in South Plainfield 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 Plainfield, accounting for 77.47% of the borough's housing units. Other types of housing that are prevalent in South Plainfield include large apartment complexes or high rise apartments ( 10.78%), duplexes, homes converted to apartments or other small apartment buildings ( 6.86%), and a few row houses and other attached homes ( 4.89%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in South Plainfield. Owner-occupied housing accounts for 80.46% of South Plainfield's homes, and 67.56% 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. South Plainfield's housing was primarily built during this period, from the '40s through the '60s. A full 53.33% of the borough's housing hails from this era. Other housing ages represented in South Plainfield include homes built between 1970-1999 ( 27.24%) and housing constructed between 2000 and later ( 12.31%). There's also some housing in South Plainfield built before 1939 ( 7.12%).

South Plainfield Home Appreciation Rates

South Plainfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Plainfield during the period has been just -1.23%, which is lower than 70% of US communities.

Over the last year, South Plainfield appreciation rates have trailed the rest of the nation. In the last twelve months, South Plainfield's appreciation rate has been 3.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Plainfield were at 1.43%, which equates to an annual appreciation rate of 5.85%.

Relative to New Jersey, our data show that South Plainfield's latest annual appreciation rate is higher than 50% 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 borough. Individual neighborhoods within South Plainfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South Plainfield - 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 Plainfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$358,791

South Plainfield, NJ HOME PRICES

Value Range
> $1,099,000 0.1
$824,001 - $1,099,000 0.2
$549,001 - $824,000 8.7
$440,001 - $549,000 13.1
$330,001 - $440,000 38.0
$220,001 - $330,000 33.9
$110,001 - $220,000 3.5
$55,001 - $110,000 0.1
$0 - $55,000 2.4

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
11.9868829419687 50.8130081300813

Number Of Homes And Apartments:
8,035

Rent & Ownership

 

Average Market Rent:
$1,790 / per month

Homeownership Rate

Homeownership
Owners 80.46
Renters 19.54
Vacant 2.94

Housing Market Details

 

Age of Homes

AGE OF South Plainfield HOMES
2000 or Newer 12.3
1970 - 1999 27.2
1940 - 1969 53.3
1939 or Older 7.1

Types of Homes

TYPE OF South Plainfield HOMES
Single-Family 77.5
Townhomes 4.9
Small Apt. Buildings 6.9
Apt. Complexes 10.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF South Plainfield HOMES
No Bedroom 1.41
1 Bedroom 5.54
2 Bedrooms 19.90
3 Bedrooms 38.57
4 Bedrooms 28.99
5 or more bedrooms 5.58

South Plainfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
67.34% 3.08% 7 8
* 10 is highest