Sussex, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Sussex Neighborhoods Since 2000




Sussex, 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

Sussex Housing Market Information

With a population of 2,043, 832 total housing units (homes and apartments), and a median house value of $205,795, Sussex real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Sussex homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Sussex, accounting for 35.51% of the borough's housing units. Other types of housing that are prevalent in Sussex include large apartment complexes or high rise apartments ( 34.21%), duplexes, homes converted to apartments or other small apartment buildings ( 25.45%), and a few row houses and other attached homes ( 4.83%).

People in Sussex primarily live in small (one, two or no bedroom) single-family detached homes. Sussex has a mixture of owner-occupied and renter-occupied housing.

The housing in Sussex was primarily built before 1939 ( 44.06%), making the housing stock in Sussex some of the oldest overall in America, although there is a range of ages of homes in Sussex. The next most important housing age is between 1940-1969 ( 36.62%), followed by between 1970-1999 ( 18.11%). There's also some housing in Sussex built between 2000 and later ( 1.21%).

Vacant housing appears to be an issue in Sussex. Fully 16.30% of the housing stock is classified as vacant. Left unchecked, vacant Sussex homes and apartments can be a drag on the real estate market, holding Sussex 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.

Sussex Home Appreciation Rates

Homes have actually lost value in Sussex over the last then years, as home values have seen a decline of 28.86% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Sussex home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Sussex appreciation rates have trailed the rest of the nation. In the last twelve months, Sussex's appreciation rate has been 2.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sussex were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Sussex's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$205,795

Sussex 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
25.13% 1.31% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,552 / per month

Homeownership Rate

Homeownership
Owners 38.59
Renters 61.41
Vacant 16.30

Housing Market Details

 

Age of Homes

AGE OF Sussex HOMES
2000 or Newer 1.2
1970 - 1999 18.1
1940 - 1969 36.6
1939 or Older 44.1

Types of Homes

TYPE OF Sussex HOMES
Single-Family 35.5
Townhomes 4.8
Small Apt. Buildings 25.5
Apt. Complexes 34.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Sussex HOMES
No Bedroom 7.04
1 Bedroom 28.47
2 Bedrooms 27.06
3 Bedrooms 26.26
4 Bedrooms 8.15
5 or more bedrooms 3.02