West New York, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating West New York Neighborhoods Since 2000




West New York, 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 New York Housing Market Information

With 53,366 people, 19,161 houses or apartments, and a median cost of homes of $347,291, real estate costs in West New York 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 West New York, accounting for 62.42% of the town's housing units. Other types of housing that are prevalent in West New York include duplexes, homes converted to apartments or other small apartment buildings ( 27.81%), single-family detached homes ( 5.53%), and a few row houses and other attached homes ( 4.16%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

West New York is dominated by renter-occupied one, two, or no bedrooms apartments. 80.50% of West New York's dwellings are rentals.

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. West New York's housing was primarily built during this period, from the '40s through the '60s. A full 33.96% of the town's housing hails from this era. Other housing ages represented in West New York include homes built before 1939 ( 28.86%) and housing constructed between 1970-1999 ( 21.87%). There's also some housing in West New York built between 2000 and later ( 15.31%).

West New York Home Appreciation Rates

West New York's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in West New York during the period has been just -1.92%, which is lower than 80% of US communities.

Over the last year, West New York appreciation rates have trailed the rest of the nation. In the last twelve months, West New York's appreciation rate has been 2.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West New York were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that West New York's latest annual appreciation rate is lower 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 West New York differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West New York - 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 West New York real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$347,291

West New York, NJ HOME PRICES

Value Range
> $1,169,000 1.3
$877,001 - $1,169,000 1.8
$585,001 - $877,000 7.7
$468,001 - $585,000 16.7
$351,001 - $468,000 25.2
$234,001 - $351,000 27.5
$117,001 - $234,000 16.0
$58,001 - $117,000 1.5
$0 - $58,000 2.4

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.4106410406657 52.4390243902439

Number Of Homes And Apartments:
19,161

West New York 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
80.88% 3.50% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,514 / per month

Homeownership Rate

Homeownership
Owners 19.50
Renters 80.50
Vacant 7.04

Housing Market Details

 

Age of Homes

AGE OF West New York HOMES
2000 or Newer 15.3
1970 - 1999 21.9
1940 - 1969 34.0
1939 or Older 28.9

Types of Homes

TYPE OF West New York HOMES
Single-Family 5.5
Townhomes 4.2
Small Apt. Buildings 27.8
Apt. Complexes 62.4
Mobile Homes 0.0
Other 0.1

Home Size

SIZE OF West New York HOMES
No Bedroom 7.26
1 Bedroom 30.81
2 Bedrooms 39.43
3 Bedrooms 17.93
4 Bedrooms 3.43
5 or more bedrooms 1.14