Stanhope, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Stanhope Neighborhoods Since 2000




Stanhope, 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

Stanhope Housing Market Information

With a population of 3,410, 1,367 total housing units (homes and apartments), and a median house value of $212,975, Stanhope real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Stanhope homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Stanhope, accounting for 65.45% of the borough's housing units. Other types of housing that are prevalent in Stanhope include large apartment complexes or high rise apartments ( 12.70%), row houses and other attached homes ( 11.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.95%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Stanhope. Owner-occupied housing accounts for 90.30% of Stanhope's homes, and 62.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Stanhope 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 Stanhope built between 1940-1969 ( 28.08%). A lesser amount of the housing stock also hails from before 1939 ( 15.31%). There's also some housing in Stanhope built between 2000 and later ( 5.50%).

Vacant housing appears to be an issue in Stanhope. Fully 10.54% of the housing stock is classified as vacant. Left unchecked, vacant Stanhope homes and apartments can be a drag on the real estate market, holding Stanhope real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Stanhope Home Appreciation Rates

Homes have actually lost value in Stanhope over the last then years, as home values have seen a decline of 31.41% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Stanhope home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Stanhope appreciation rates have trailed the rest of the nation. In the last twelve months, Stanhope's appreciation rate has been 0.86%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Stanhope were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Stanhope's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$212,975

Stanhope, NJ HOME PRICES

Value Range
> $1,020,000 0.6
$765,001 - $1,020,000 0.0
$510,001 - $765,000 2.1
$408,001 - $510,000 4.6
$306,001 - $408,000 12.3
$204,001 - $306,000 32.4
$102,001 - $204,000 41.2
$51,001 - $102,000 0.8
$0 - $51,000 6.1

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
29.2218446033048 83.3333333333333

Number Of Homes And Apartments:
1,367

Stanhope 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
26.69% 1.38% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,107 / per month

Homeownership Rate

Homeownership
Owners 90.30
Renters 9.70
Vacant 10.54

Housing Market Details

 

Age of Homes

AGE OF Stanhope HOMES
2000 or Newer 5.5
1970 - 1999 51.1
1940 - 1969 28.1
1939 or Older 15.3

Types of Homes

TYPE OF Stanhope HOMES
Single-Family 65.4
Townhomes 11.9
Small Apt. Buildings 9.9
Apt. Complexes 12.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Stanhope HOMES
No Bedroom 0.00
1 Bedroom 16.10
2 Bedrooms 18.26
3 Bedrooms 39.46
4 Bedrooms 23.30
5 or more bedrooms 2.88