Spotswood, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Spotswood Neighborhoods Since 2000




Spotswood, NJ Real Estate Data


Spotswood Housing Market Information

With 8,476 people, 3,275 houses or apartments, and a median cost of homes of $222,642, Spotswood real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Spotswood homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Spotswood, accounting for 67.65% of the borough's housing units. Other types of housing that are prevalent in Spotswood include large apartment complexes or high rise apartments ( 12.40%), mobile homes or trailers ( 8.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spotswood. Owner-occupied housing accounts for 81.89% of Spotswood's homes, and 59.20% 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. Spotswood's housing was primarily built during this period, from the '40s through the '60s. A full 54.31% of the borough's housing hails from this era. Other housing ages represented in Spotswood include homes built between 1970-1999 ( 32.06%) and housing constructed between 2000 and later ( 7.34%). There's also some housing in Spotswood built before 1939 ( 6.29%).

Spotswood Home Appreciation Rates

Homes have actually lost value in Spotswood over the last then years, as home values have seen a decline of 19.64% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Spotswood home appreciation rates at -0.70%, which equates to an annual appreciation rate of -2.77%.

Over the last year, Spotswood appreciation rates have trailed the rest of the nation. In the last twelve months, Spotswood's appreciation rate has been -1.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Spotswood were at -0.70%, which equates to an annual appreciation rate of -2.77%.

Notably, Spotswood's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$222,642

Spotswood, NJ HOME PRICES

Value Range
> $1,023,000 0.0
$767,001 - $1,023,000 0.0
$511,001 - $767,000 4.6
$409,001 - $511,000 7.2
$306,001 - $409,000 31.0
$205,001 - $306,000 36.9
$102,001 - $205,000 10.5
$51,001 - $102,000 4.7
$0 - $51,000 5.2

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
26.8428454236494 82.1138211382114

Number Of Homes And Apartments:
3,275

Rent & Ownership

 

Average Market Rent:
$1,299 / per month

Homeownership Rate

Homeownership
Owners 81.89
Renters 18.11
Vacant 4.21

Housing Market Details

 

Age of Homes

AGE OF Spotswood HOMES
2000 or Newer 7.3
1970 - 1999 32.1
1940 - 1969 54.3
1939 or Older 6.3

Types of Homes

TYPE OF Spotswood HOMES
Single-Family 67.7
Townhomes 5.2
Small Apt. Buildings 6.1
Apt. Complexes 12.4
Mobile Homes 8.6
Other 0.0

Home Size

SIZE OF Spotswood HOMES
No Bedroom 1.35
1 Bedroom 12.28
2 Bedrooms 24.66
3 Bedrooms 38.17
4 Bedrooms 21.03
5 or more bedrooms 2.52

Spotswood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
51.68% 2.44% 5 6
* 10 is highest