Wayne, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wayne Neighborhoods Since 2000




Wayne, 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

Wayne Housing Market Information

With a population of 55,210, 1,738 total housing units (homes and apartments), and a median house value of $493,815, real estate costs in Wayne 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 Wayne, accounting for 71.41% of the town's housing units. Other types of housing that are prevalent in Wayne include large apartment complexes or high rise apartments ( 14.15%), row houses and other attached homes ( 9.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wayne. Owner-occupied housing accounts for 77.54% of Wayne's homes, and 65.58% 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. Wayne's housing was primarily built during this period, from the '40s through the '60s. A full 52.97% of the town's housing hails from this era. Other housing ages represented in Wayne include homes built between 1970-1999 ( 36.01%) and housing constructed before 1939 ( 7.65%). There's also some housing in Wayne built between 2000 and later ( 3.37%).

Wayne Home Appreciation Rates

Wayne's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wayne during the period has been just -1.47%, which is lower than 80% of US communities.

Over the last year, Wayne appreciation rates have trailed the rest of the nation. In the last twelve months, Wayne's appreciation rate has been 3.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wayne were at 0.66%, which equates to an annual appreciation rate of 2.68%.

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

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Wayne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wayne - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Wayne real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$493,815

Wayne, NJ HOME PRICES

Value Range
> $1,069,000 1.3
$802,001 - $1,069,000 5.3
$535,001 - $802,000 27.6
$428,001 - $535,000 25.6
$320,001 - $428,000 22.7
$214,001 - $320,000 10.7
$107,001 - $214,000 2.9
$53,001 - $107,000 0.1
$0 - $53,000 3.6

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
6.08226883862651 25.8130081300813

Number Of Homes And Apartments:
1,738

Wayne 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
42.85% 2.09% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,195 / per month

Homeownership Rate

Homeownership
Owners 77.54
Renters 22.46
Vacant 3.95

Housing Market Details

 

Age of Homes

AGE OF Wayne HOMES
2000 or Newer 3.4
1970 - 1999 36.0
1940 - 1969 53.0
1939 or Older 7.7

Types of Homes

TYPE OF Wayne HOMES
Single-Family 71.4
Townhomes 9.6
Small Apt. Buildings 3.8
Apt. Complexes 14.2
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Wayne HOMES
No Bedroom 1.02
1 Bedroom 10.69
2 Bedrooms 13.41
3 Bedrooms 34.65
4 Bedrooms 30.93
5 or more bedrooms 9.30