South River, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating South River Neighborhoods Since 2000




South River, 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 River Housing Market Information

With 16,399 people, 5,374 houses or apartments, and a median cost of homes of $288,910, South River real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in South River, accounting for 65.90% of the borough's housing units. Other types of housing that are prevalent in South River include duplexes, homes converted to apartments or other small apartment buildings ( 20.62%), large apartment complexes or high rise apartments ( 10.13%), and a few row houses and other attached homes ( 2.85%).

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 River. Owner-occupied housing accounts for 66.61% of South River's homes, and 59.55% 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 River's housing was primarily built during this period, from the '40s through the '60s. A full 55.19% of the borough's housing hails from this era. Other housing ages represented in South River include homes built before 1939 ( 23.32%) and housing constructed between 1970-1999 ( 18.12%). There's also some housing in South River built between 2000 and later ( 3.37%).

South River Home Appreciation Rates

Homes have actually lost value in South River over the last then years, as home values have seen a decline of 23.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows South River home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, South River appreciation rates have trailed the rest of the nation. In the last twelve months, South River's appreciation rate has been 0.98%, 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 River were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that South River's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$288,910

South River, NJ HOME PRICES

Value Range
> $1,066,000 0.0
$799,001 - $1,066,000 0.0
$533,001 - $799,000 4.4
$426,001 - $533,000 6.9
$320,001 - $426,000 26.4
$213,001 - $320,000 47.7
$106,001 - $213,000 11.0
$53,001 - $106,000 0.2
$0 - $53,000 3.4

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
17.4264619711707 68.0894308943089

Number Of Homes And Apartments:
5,374

South River 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
47.49% 2.28% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,614 / per month

Homeownership Rate

Homeownership
Owners 66.61
Renters 33.39
Vacant 9.98

Housing Market Details

 

Age of Homes

AGE OF South River HOMES
2000 or Newer 3.4
1970 - 1999 18.1
1940 - 1969 55.2
1939 or Older 23.3

Types of Homes

TYPE OF South River HOMES
Single-Family 65.9
Townhomes 2.8
Small Apt. Buildings 20.6
Apt. Complexes 10.1
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF South River HOMES
No Bedroom 1.44
1 Bedroom 13.89
2 Bedrooms 21.98
3 Bedrooms 41.56
4 Bedrooms 17.99
5 or more bedrooms 3.15