South Plainfield, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating South Plainfield Neighborhoods Since 2000




South Plainfield, 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 Plainfield Housing Market Information

With 24,290 people, 8,018 houses or apartments, and a median cost of homes of $364,390, 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 79.70% of the borough's housing units. Other types of housing that are prevalent in South Plainfield include large apartment complexes or high rise apartments ( 10.59%), row houses and other attached homes ( 5.02%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.70%).

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 79.74% of South Plainfield's homes, and 68.30% 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 51.29% of the borough's housing hails from this era. Other housing ages represented in South Plainfield include homes built between 1970-1999 ( 30.12%) and housing constructed between 2000 and later ( 11.44%). There's also some housing in South Plainfield built before 1939 ( 7.16%).

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 -1.44%, which is lower than 80% 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 3.03%, 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 0.66%, which equates to an annual appreciation rate of 2.68%.

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:
$364,390

South Plainfield, NJ HOME PRICES

Value Range
> $1,089,000 0.1
$816,001 - $1,089,000 0.1
$545,001 - $816,000 8.1
$436,001 - $545,000 11.4
$327,001 - $436,000 39.6
$218,001 - $327,000 34.8
$109,001 - $218,000 3.3
$54,001 - $109,000 0.3
$0 - $54,000 2.4

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
11.2387202625103 48.5772357723577

Number Of Homes And Apartments:
8,018

South Plainfield 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
64.05% 2.91% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,262 / per month

Homeownership Rate

Homeownership
Owners 79.74
Renters 20.26
Vacant 2.87

Housing Market Details

 

Age of Homes

AGE OF South Plainfield HOMES
2000 or Newer 11.4
1970 - 1999 30.1
1940 - 1969 51.3
1939 or Older 7.2

Types of Homes

TYPE OF South Plainfield HOMES
Single-Family 79.7
Townhomes 5.0
Small Apt. Buildings 4.7
Apt. Complexes 10.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF South Plainfield HOMES
No Bedroom 1.08
1 Bedroom 5.11
2 Bedrooms 20.06
3 Bedrooms 39.82
4 Bedrooms 28.48
5 or more bedrooms 5.45