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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Sussex HOMES|
|2000 or Newer||1.2|
|1970 - 1999||18.1|
|1940 - 1969||36.6|
|1939 or Older||44.1|
|TYPE OF Sussex HOMES|
|Small Apt. Buildings||25.5|
|SIZE OF Sussex HOMES|
|5 or more bedrooms||3.02|