Sparta, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Sparta Neighborhoods Since 2000




Sparta, 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

Sparta Housing Market Information

With 21,499 people, 1,737 houses or apartments, and a median cost of homes of $453,067, real estate costs in Sparta 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 Sparta, accounting for 90.56% of the town's housing units. Other types of housing that are prevalent in Sparta include duplexes, homes converted to apartments or other small apartment buildings ( 3.28%), row houses and other attached homes ( 3.20%), and a few large apartment complexes or high rise apartments ( 2.95%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Sparta. Owner-occupied housing accounts for 90.99% of Sparta's homes, and 77.15% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Sparta built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sparta built between 1940-1969 ( 27.69%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.96%). There's also some housing in Sparta built before 1939 ( 10.83%).

Sparta Home Appreciation Rates

Homes have actually lost value in Sparta 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 Sparta home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Sparta appreciation rates have trailed the rest of the nation. In the last twelve months, Sparta's appreciation rate has been 1.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sparta were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Sparta's latest annual appreciation rate is lower than 70% 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 town. Individual neighborhoods within Sparta differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sparta - 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 Sparta real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$453,067

Sparta, NJ HOME PRICES

Value Range
> $1,025,000 4.8
$769,001 - $1,025,000 3.3
$513,001 - $769,000 20.5
$410,001 - $513,000 18.2
$308,001 - $410,000 25.5
$205,001 - $308,000 21.8
$102,001 - $205,000 4.0
$51,001 - $102,000 0.5
$0 - $51,000 1.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
7.28934724012657 31.0975609756098

Number Of Homes And Apartments:
1,737

Sparta 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
28.93% 1.48% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,302 / per month

Homeownership Rate

Homeownership
Owners 90.99
Renters 9.01
Vacant 9.50

Housing Market Details

 

Age of Homes

AGE OF Sparta HOMES
2000 or Newer 14.0
1970 - 1999 47.5
1940 - 1969 27.7
1939 or Older 10.8

Types of Homes

TYPE OF Sparta HOMES
Single-Family 90.6
Townhomes 3.2
Small Apt. Buildings 3.3
Apt. Complexes 3.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Sparta HOMES
No Bedroom 1.03
1 Bedroom 4.49
2 Bedrooms 10.04
3 Bedrooms 35.48
4 Bedrooms 41.67
5 or more bedrooms 7.30