Wallington, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Wallington Neighborhoods Since 2000




Wallington, 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

Wallington Housing Market Information

With a population of 11,716, 4,594 total housing units (homes and apartments), and a median house value of $393,705, real estate costs in Wallington 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.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Wallington, accounting for 47.60% of the borough's housing units. Other types of housing that are prevalent in Wallington include large apartment complexes or high rise apartments ( 26.39%), single-family detached homes ( 23.11%), and a few row houses and other attached homes ( 2.78%). Boroughs that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of boroughs are often walkable and compact, and often have a lively downtown.

People in Wallington primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Wallington has a mixture of owner-occupied and renter-occupied housing.

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. Wallington's housing was primarily built during this period, from the '40s through the '60s. A full 56.37% of the borough's housing hails from this era. Other housing ages represented in Wallington include homes built before 1939 ( 22.95%) and housing constructed between 1970-1999 ( 17.38%). There's also some housing in Wallington built between 2000 and later ( 3.30%).

Wallington Home Appreciation Rates

Wallington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wallington during the period has been just -1.54%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Wallington's appreciation rate, at 5.55%, has been at or slightly above the national average. In the latest quarter, Wallington's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$393,705

Wallington, NJ HOME PRICES

Value Range
> $1,073,000 1.7
$805,001 - $1,073,000 0.4
$536,001 - $805,000 12.8
$429,001 - $536,000 23.8
$322,001 - $429,000 30.6
$215,001 - $322,000 22.3
$107,001 - $215,000 4.1
$53,001 - $107,000 0.8
$0 - $53,000 3.5

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
9.74452127036212 42.2764227642276

Number Of Homes And Apartments:
4,594

Wallington 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
68.46% 3.07% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,525 / per month

Homeownership Rate

Homeownership
Owners 42.11
Renters 57.89
Vacant 8.23

Housing Market Details

 

Age of Homes

AGE OF Wallington HOMES
2000 or Newer 3.3
1970 - 1999 17.4
1940 - 1969 56.4
1939 or Older 23.0

Types of Homes

TYPE OF Wallington HOMES
Single-Family 23.1
Townhomes 2.8
Small Apt. Buildings 47.6
Apt. Complexes 26.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Wallington HOMES
No Bedroom 1.80
1 Bedroom 30.18
2 Bedrooms 37.10
3 Bedrooms 19.28
4 Bedrooms 8.31
5 or more bedrooms 3.34