Washington, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Washington Neighborhoods Since 2000




Washington, NJ Real Estate Data


Washington Housing Market Information

With 6,498 people, 2,521 houses or apartments, and a median cost of homes of $228,006, Washington real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Washington homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Washington, accounting for 47.15% of the borough's housing units. Other types of housing that are prevalent in Washington include duplexes, homes converted to apartments or other small apartment buildings ( 25.13%), large apartment complexes or high rise apartments ( 17.73%), and a few row houses and other attached homes ( 9.98%).

The most prevalent building size and type in Washington are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 51.19% owning and 48.81% renting.

The housing in Washington was primarily built before 1939 ( 45.98%), making the housing stock in Washington some of the oldest overall in America, although there is a range of ages of homes in Washington. The next most important housing age is between 1940-1969 ( 25.31%), followed by between 1970-1999 ( 22.19%). There's also some housing in Washington built between 2000 and later ( 6.51%).

Vacant housing appears to be an issue in Washington. Fully 10.76% of the housing stock is classified as vacant. Left unchecked, vacant Washington homes and apartments can be a drag on the real estate market, holding Washington real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Washington Home Appreciation Rates

Homes have actually lost value in Washington over the last then years, as home values have seen a decline of 28.03% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Washington home appreciation rates at 1.92%, which equates to an annual appreciation rate of 7.90%.

NeighborhoodScout's data show that during the latest twelve months, Washington's appreciation rate, at 4.44%, has been at or slightly above the national average. In the latest quarter, Washington's appreciation rate has been 1.92%, which annualizes to a rate of 7.90%.

Relative to New Jersey, our data show that Washington's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$228,006

Washington, NJ HOME PRICES

Value Range
> $1,054,000 0.0
$790,001 - $1,054,000 0.0
$527,001 - $790,000 0.0
$422,001 - $527,000 2.8
$316,001 - $422,000 12.8
$211,001 - $316,000 42.2
$105,001 - $211,000 41.6
$53,001 - $105,000 0.0
$0 - $53,000 0.6

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
26.966094747321 81.9105691056911

Number Of Homes And Apartments:
2,521

Rent & Ownership

 

Average Market Rent:
$1,278 / per month

Homeownership Rate

Homeownership
Owners 51.19
Renters 48.81
Vacant 10.76

Housing Market Details

 

Age of Homes

AGE OF Washington HOMES
2000 or Newer 6.5
1970 - 1999 22.2
1940 - 1969 25.3
1939 or Older 46.0

Types of Homes

TYPE OF Washington HOMES
Single-Family 47.2
Townhomes 10.0
Small Apt. Buildings 25.1
Apt. Complexes 17.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Washington HOMES
No Bedroom 3.19
1 Bedroom 13.77
2 Bedrooms 26.48
3 Bedrooms 33.66
4 Bedrooms 21.10
5 or more bedrooms 1.81

Washington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
33.78% 1.73% 1 4
* 10 is highest