Weehawken, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Weehawken Neighborhoods Since 2000




Weehawken, 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

Weehawken Housing Market Information

With 14,040 people, 1,539 houses or apartments, and a median cost of homes of $508,571, real estate costs in Weehawken 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.

Large apartment complexes or high rise apartments are the single most common housing type in Weehawken, accounting for 48.77% of the town's housing units. Other types of housing that are prevalent in Weehawken include duplexes, homes converted to apartments or other small apartment buildings ( 38.14%), single-family detached homes ( 9.86%), and a few row houses and other attached homes ( 3.22%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

Weehawken is dominated by renter-occupied one, two, or no bedrooms apartments. 68.04% of Weehawken's dwellings are rentals.

The housing in Weehawken was primarily built before 1939 ( 54.70%), making the housing stock in Weehawken some of the oldest overall in America, although there is a range of ages of homes in Weehawken. The next most important housing age is between 1940-1969 ( 19.26%), followed by between 1970-1999 ( 15.27%). There's also some housing in Weehawken built between 2000 and later ( 10.78%).

Vacant housing appears to be an issue in Weehawken. Fully 10.97% of the housing stock is classified as vacant. Left unchecked, vacant Weehawken homes and apartments can be a drag on the real estate market, holding Weehawken 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.

Weehawken Home Appreciation Rates

In the last 10 years, Weehawken has experienced some of the highest home appreciation rates of any community in the nation. Weehawken real estate appreciated 17.32% over the last ten years, which is an average annual home appreciation rate of 1.61%, putting Weehawken in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Weehawken definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Weehawken that despite a nationwide downturn in the housing market, Weehawken real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Weehawken appreciation rates continue to be some of the highest in America, at 8.80%, which is higher than appreciation rates in 90.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Weehawken. Weehawken appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Weehawken's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$508,571

Weehawken, NJ HOME PRICES

Value Range
> $1,230,000 9.2
$923,001 - $1,230,000 10.4
$615,001 - $923,000 27.1
$492,001 - $615,000 13.7
$369,001 - $492,000 10.7
$246,001 - $369,000 20.9
$123,001 - $246,000 5.7
$62,001 - $123,000 1.7
$0 - $62,000 0.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
5.72483300128911 24.7967479674797

Number Of Homes And Apartments:
1,539

Weehawken 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
140.01% 5.21% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,630 / per month

Homeownership Rate

Homeownership
Owners 31.96
Renters 68.04
Vacant 10.97

Housing Market Details

 

Age of Homes

AGE OF Weehawken HOMES
2000 or Newer 10.8
1970 - 1999 15.3
1940 - 1969 19.3
1939 or Older 54.7

Types of Homes

TYPE OF Weehawken HOMES
Single-Family 9.9
Townhomes 3.2
Small Apt. Buildings 38.1
Apt. Complexes 48.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Weehawken HOMES
No Bedroom 5.64
1 Bedroom 30.54
2 Bedrooms 33.70
3 Bedrooms 19.70
4 Bedrooms 6.06
5 or more bedrooms 4.37