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 53,437 people, 1,986 houses or apartments, and a median cost of homes of $375,652, real estate costs in Union 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.
Mobile homes or trailers are the single most common housing type in Union, accounting for 0.00% of the town's housing units.
Owner-occupied, three and four bedroom dwellings, primarily in mobile homes or trailers are the most prevalent type of housing you will see in Union. Owner-occupied housing accounts for 72.68% of Union's homes, and 63.48% 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. Union's housing was primarily built during this period, from the '40s through the '60s. A full 61.81% of the town's housing hails from this era. Other housing ages represented in Union include homes built before 1939 ( 19.99%) and housing constructed between 1970-1999 ( 13.97%). There's also some housing in Union built between 2000 and later ( 4.23%).
Union's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Union during the period has been just 0.97%, which is lower than 70% of US communities.
Over the last year, Union appreciation rates have trailed the rest of the nation. In the last twelve months, Union's appreciation rate has been 1.82%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Union were at 0.47%, which equates to an annual appreciation rate of 1.87%.
Notably, Union's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New Jersey, our data show that Union's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Union differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Union - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Union real estate investment or home purchase decisions.
|$888,001 - $1,184,000||0.4|
|$592,001 - $888,000||2.3|
|$474,001 - $592,000||8.9|
|$355,001 - $474,000||47.6|
|$237,001 - $355,000||29.6|
|$118,001 - $237,000||8.2|
|$59,001 - $118,000||0.7|
|$0 - $59,000||2.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Union HOMES|
|2000 or Newer||4.2|
|1970 - 1999||14.0|
|1940 - 1969||61.8|
|1939 or Older||20.0|
|TYPE OF Union HOMES|
|Small Apt. Buildings||0.0|
|SIZE OF Union HOMES|
|5 or more bedrooms||2.88|