West Creek, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating West Creek Neighborhoods Since 2000




West Creek, 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

West Creek Housing Market Information

With 4,276 people, 897 houses or apartments, and a median cost of homes of $195,533, West Creek real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, West Creek homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in West Creek, accounting for 73.70% of the town's housing units. Other types of housing that are prevalent in West Creek include mobile homes or trailers ( 15.03%), large apartment complexes or high rise apartments ( 5.12%), and a few row houses and other attached homes ( 4.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Creek. Owner-occupied housing accounts for 87.26% of West Creek's homes, and 49.52% have either three or four bedrooms, which is average sized relative to America.

West Creek homes and real estate are some of the newest in America. 46.93% of West Creek's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the West Creek real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 28.24%), and between 1940-1969 ( 14.53%). There's also some housing in West Creek built before 1939 ( 10.31%).

Vacant housing appears to be an issue in West Creek. Fully 16.40% of the housing stock is classified as vacant. Left unchecked, vacant West Creek homes and apartments can be a drag on the real estate market, holding West Creek 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.

West Creek Home Appreciation Rates

West Creek's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in West Creek during the period has been just -1.85%, which is lower than 80% of US communities.

Appreciation rates are so strong in West Creek that despite a nationwide downturn in the housing market, West Creek real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Creek appreciation rates continue to be some of the highest in America, at 8.77%, which is higher than appreciation rates in 89.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Creek. West Creek 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 West Creek's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$195,533

West Creek, NJ HOME PRICES

Value Range
> $1,097,000 0.6
$822,001 - $1,097,000 0.7
$548,001 - $822,000 3.6
$439,001 - $548,000 13.7
$329,001 - $439,000 14.2
$219,001 - $329,000 19.5
$110,001 - $219,000 38.2
$55,001 - $110,000 3.2
$0 - $55,000 6.3

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
33.3470057424118 87.6016260162602

Number Of Homes And Apartments:
897

West Creek 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
65.67% 2.97% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,358 / per month

Homeownership Rate

Homeownership
Owners 87.26
Renters 12.74
Vacant 16.40

Housing Market Details

 

Age of Homes

AGE OF West Creek HOMES
2000 or Newer 46.9
1970 - 1999 28.2
1940 - 1969 14.5
1939 or Older 10.3

Types of Homes

TYPE OF West Creek HOMES
Single-Family 73.7
Townhomes 4.6
Small Apt. Buildings 1.5
Apt. Complexes 5.1
Mobile Homes 15.0
Other 0.0

Home Size

SIZE OF West Creek HOMES
No Bedroom 0.24
1 Bedroom 7.22
2 Bedrooms 40.24
3 Bedrooms 28.96
4 Bedrooms 20.56
5 or more bedrooms 2.78