Totowa, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Totowa Neighborhoods Since 2000




Totowa, 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

Totowa Housing Market Information

With a population of 10,973, 3,308 total housing units (homes and apartments), and a median house value of $474,747, real estate costs in Totowa 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 Totowa, accounting for 72.01% of the borough's housing units. Other types of housing that are prevalent in Totowa include duplexes, homes converted to apartments or other small apartment buildings ( 18.72%), large apartment complexes or high rise apartments ( 6.03%), and a few row houses and other attached homes ( 3.24%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Totowa. Owner-occupied housing accounts for 74.04% of Totowa's homes, and 67.16% 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. Totowa's housing was primarily built during this period, from the '40s through the '60s. A full 56.03% of the borough's housing hails from this era. Other housing ages represented in Totowa include homes built between 1970-1999 ( 24.72%) and housing constructed before 1939 ( 12.05%). There's also some housing in Totowa built between 2000 and later ( 7.20%).

Totowa Home Appreciation Rates

Totowa's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Totowa during the period has been just -1.60%, which is lower than 80% of US communities.

Appreciation rates are so strong in Totowa that despite a nationwide downturn in the housing market, Totowa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Totowa appreciation rates continue to be some of the highest in America, at 5.62%, which is higher than appreciation rates in 70.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Totowa. Totowa appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$474,747

Totowa, NJ HOME PRICES

Value Range
> $1,087,000 0.0
$815,001 - $1,087,000 4.5
$544,001 - $815,000 18.4
$435,001 - $544,000 20.0
$326,001 - $435,000 32.8
$217,001 - $326,000 19.5
$109,001 - $217,000 3.4
$54,001 - $109,000 0.0
$0 - $54,000 1.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
6.63893120825032 28.8617886178862

Number Of Homes And Apartments:
3,308

Totowa 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
47.29% 2.27% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,097 / per month

Homeownership Rate

Homeownership
Owners 74.04
Renters 25.96
Vacant 7.70

Housing Market Details

 

Age of Homes

AGE OF Totowa HOMES
2000 or Newer 7.2
1970 - 1999 24.7
1940 - 1969 56.0
1939 or Older 12.1

Types of Homes

TYPE OF Totowa HOMES
Single-Family 72.0
Townhomes 3.2
Small Apt. Buildings 18.7
Apt. Complexes 6.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Totowa HOMES
No Bedroom 2.43
1 Bedroom 4.41
2 Bedrooms 22.60
3 Bedrooms 43.64
4 Bedrooms 23.52
5 or more bedrooms 3.40