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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 47,957, 17,344 total housing units (homes and apartments), and a median house value of $592,840, real estate costs in West Orange 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 West Orange, accounting for 56.48% of the township's housing units. Other types of housing that are prevalent in West Orange include large apartment complexes or high rise apartments ( 17.30%), duplexes, homes converted to apartments or other small apartment buildings ( 16.15%), and a few row houses and other attached homes ( 9.86%).
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 Orange. Owner-occupied housing accounts for 70.65% of West Orange's homes, and 57.24% 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. West Orange's housing was primarily built during this period, from the '40s through the '60s. A full 48.60% of the township's housing hails from this era. Other housing ages represented in West Orange include homes built before 1939 ( 25.06%) and housing constructed between 1970-1999 ( 20.57%). There's also some housing in West Orange built between 2000 and later ( 5.77%).
Real estate appreciation rates in West Orange's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.85% during the period.
NeighborhoodScout's data show that during the latest twelve months, West Orange's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, West Orange's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New Jersey, our data show that West Orange's latest annual appreciation rate is lower than 80% 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 township. Individual neighborhoods within West Orange differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Orange - 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 Orange real estate investment or home purchase decisions.
$592,840
for New jersey
for nation
17,344
$3,263 / per month