Wanaque, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Wanaque, 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

Wanaque Housing Market Information

With a population of 11,848, 4,089 total housing units (homes and apartments), and a median house value of $342,426, real estate costs in Wanaque 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 Wanaque, accounting for 60.31% of the borough's housing units. Other types of housing that are prevalent in Wanaque include large apartment complexes or high rise apartments ( 19.69%), duplexes, homes converted to apartments or other small apartment buildings ( 10.51%), and a few row houses and other attached homes ( 9.48%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wanaque. Owner-occupied housing accounts for 78.93% of Wanaque's homes, and 49.38% 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. Wanaque's housing was primarily built during this period, from the '40s through the '60s. A full 32.47% of the borough's housing hails from this era. Other housing ages represented in Wanaque include homes built between 1970-1999 ( 28.97%) and housing constructed between 2000 and later ( 27.14%). There's also some housing in Wanaque built before 1939 ( 11.42%).

Wanaque Home Appreciation Rates

Homes have actually lost value in Wanaque over the last then years, as home values have seen a decline of 22.26% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Wanaque home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

NeighborhoodScout's data show that during the latest twelve months, Wanaque's appreciation rate, at 3.30%, has been at or slightly above the national average. In the latest quarter, Wanaque's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Wanaque's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$342,426

Wanaque, NJ HOME PRICES

Value Range
> $1,085,000 0.3
$814,001 - $1,085,000 0.4
$543,001 - $814,000 3.2
$434,001 - $543,000 9.2
$326,001 - $434,000 35.5
$217,001 - $326,000 37.3
$108,001 - $217,000 10.1
$54,001 - $108,000 1.3
$0 - $54,000 2.6

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.7153404429861 53.6585365853659

Number Of Homes And Apartments:
4,089

Wanaque 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
38.97% 1.93% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,108 / per month

Homeownership Rate

Homeownership
Owners 78.93
Renters 21.07
Vacant 4.48

Housing Market Details

 

Age of Homes

AGE OF Wanaque HOMES
2000 or Newer 27.1
1970 - 1999 29.0
1940 - 1969 32.5
1939 or Older 11.4

Types of Homes

TYPE OF Wanaque HOMES
Single-Family 60.3
Townhomes 9.5
Small Apt. Buildings 10.5
Apt. Complexes 19.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Wanaque HOMES
No Bedroom 0.00
1 Bedroom 7.17
2 Bedrooms 41.11
3 Bedrooms 30.06
4 Bedrooms 19.32
5 or more bedrooms 2.34

Popular Neighborhoods in Wanaque

Zip Codes in Wanaque, NJ