Verona, NJ


Highest Appreciating Verona Neighborhoods Since 2000

Verona, 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

Verona Housing Market Information

With a population of 13,569, 1,742 total housing units (homes and apartments), and a median house value of $535,660, real estate costs in Verona 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 Verona, accounting for 61.08% of the town's housing units. Other types of housing that are prevalent in Verona include large apartment complexes or high rise apartments ( 26.24%), duplexes, homes converted to apartments or other small apartment buildings ( 11.39%), and a few row houses and other attached homes ( 1.30%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Verona. Owner-occupied housing accounts for 76.60% of Verona's homes, and 51.78% 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. Verona's housing was primarily built during this period, from the '40s through the '60s. A full 46.54% of the town's housing hails from this era. Other housing ages represented in Verona include homes built before 1939 ( 28.23%) and housing constructed between 1970-1999 ( 19.42%). There's also some housing in Verona built between 2000 and later ( 5.81%).

Verona Home Appreciation Rates

Real estate appreciation rates in Verona's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.26% during the period.

Over the last year, Verona appreciation rates have trailed the rest of the nation. In the last twelve months, Verona's appreciation rate has been 2.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Verona were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values


Median Home Value:


Value Range
> $1,102,000 1.5
$826,001 - $1,102,000 5.6
$551,001 - $826,000 26.5
$441,001 - $551,000 25.1
$330,001 - $441,000 26.7
$220,001 - $330,000 8.4
$110,001 - $220,000 4.8
$55,001 - $110,000 0.2
$0 - $55,000 1.0

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
5.0158209305051 22.3577235772358

Number Of Homes And Apartments:

Verona Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
68.27% 3.06% 8 8
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,895 / per month

Homeownership Rate

Owners 76.60
Renters 23.40
Vacant 5.63

Housing Market Details


Age of Homes

2000 or Newer 5.8
1970 - 1999 19.4
1940 - 1969 46.5
1939 or Older 28.2

Types of Homes

Single-Family 61.1
Townhomes 1.3
Small Apt. Buildings 11.4
Apt. Complexes 26.2
Mobile Homes 0.0
Other 0.0

Home Size

No Bedroom 1.35
1 Bedroom 22.25
2 Bedrooms 18.68
3 Bedrooms 36.20
4 Bedrooms 15.58
5 or more bedrooms 5.94