Washington, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Washington Neighborhoods Since 2000




Washington, 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

Washington Housing Market Information

With a population of 6,498, 2,506 total housing units (homes and apartments), and a median house value of $214,337, 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 49.04% 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 ( 24.95%), large apartment complexes or high rise apartments ( 14.54%), and a few row houses and other attached homes ( 11.48%).

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 54.75% owning and 45.25% renting.

The housing in Washington was primarily built before 1939 ( 45.79%), 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 ( 24.63%), followed by between 1970-1999 ( 21.70%). There's also some housing in Washington built between 2000 and later ( 7.88%).

Vacant housing appears to be an issue in Washington. Fully 10.69% 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 28.81% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Washington home appreciation rates at 0.88%, which equates to an annual appreciation rate of 3.57%.

Over the last year, Washington appreciation rates have trailed the rest of the nation. In the last twelve months, Washington's appreciation rate has been 1.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Washington were at 0.88%, which equates to an annual appreciation rate of 3.57%.

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

Average Home Values

 

Median Home Value:
$214,337

Washington, NJ HOME PRICES

Value Range
> $1,038,000 0.0
$779,001 - $1,038,000 0.0
$519,001 - $779,000 0.0
$415,001 - $519,000 0.9
$312,001 - $415,000 10.3
$208,001 - $312,000 45.4
$104,001 - $208,000 42.8
$52,001 - $104,000 0.0
$0 - $52,000 0.6

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
28.876127973749 83.130081300813

Number Of Homes And Apartments:
2,506

Washington 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
30.03% 1.53% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,192 / per month

Homeownership Rate

Homeownership
Owners 54.75
Renters 45.25
Vacant 10.69

Housing Market Details

 

Age of Homes

AGE OF Washington HOMES
2000 or Newer 7.9
1970 - 1999 21.7
1940 - 1969 24.6
1939 or Older 45.8

Types of Homes

TYPE OF Washington HOMES
Single-Family 49.0
Townhomes 11.5
Small Apt. Buildings 24.9
Apt. Complexes 14.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Washington HOMES
No Bedroom 3.31
1 Bedroom 12.87
2 Bedrooms 22.10
3 Bedrooms 37.03
4 Bedrooms 21.13
5 or more bedrooms 3.56