Westville, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Westville Neighborhoods Since 2000




Westville, 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

Westville Housing Market Information

With a population of 4,224, 1,720 total housing units (homes and apartments), and a median house value of $159,396, Westville real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Westville homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Westville, accounting for 67.04% of the borough's housing units. Other types of housing that are prevalent in Westville include duplexes, homes converted to apartments or other small apartment buildings ( 20.98%), large apartment complexes or high rise apartments ( 7.29%), and a few row houses and other attached homes ( 4.69%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westville. Owner-occupied housing accounts for 68.92% of Westville's homes, and 58.04% 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. Westville's housing was primarily built during this period, from the '40s through the '60s. A full 56.34% of the borough's housing hails from this era. Other housing ages represented in Westville include homes built before 1939 ( 33.49%) and housing constructed between 1970-1999 ( 9.69%).

Westville Home Appreciation Rates

Homes have actually lost value in Westville over the last then years, as home values have seen a decline of 24.13% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Westville home appreciation rates at 0.08%, which equates to an annual appreciation rate of 0.32%.

Over the last year, Westville appreciation rates have trailed the rest of the nation. In the last twelve months, Westville's appreciation rate has been 0.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westville were at 0.08%, which equates to an annual appreciation rate of 0.32%.

Relative to New Jersey, our data show that Westville's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$159,396

Westville, NJ HOME PRICES

Value Range
> $982,000 1.5
$736,001 - $982,000 0.0
$491,001 - $736,000 1.0
$392,001 - $491,000 0.0
$294,001 - $392,000 0.6
$196,001 - $294,000 26.4
$98,001 - $196,000 60.0
$49,001 - $98,000 8.0
$0 - $49,000 2.4

Very Low for NJ
Average for Nation

Value Relative to Nation Value Relative to State
45.9480839095277 94.5121951219512

Number Of Homes And Apartments:
1,720

Westville 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
38.27% 1.90% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,144 / per month

Homeownership Rate

Homeownership
Owners 68.92
Renters 31.08
Vacant 8.41

Housing Market Details

 

Age of Homes

AGE OF Westville HOMES
2000 or Newer 0.5
1970 - 1999 9.7
1940 - 1969 56.3
1939 or Older 33.5

Types of Homes

TYPE OF Westville HOMES
Single-Family 67.0
Townhomes 4.7
Small Apt. Buildings 21.0
Apt. Complexes 7.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Westville HOMES
No Bedroom 2.93
1 Bedroom 16.45
2 Bedrooms 21.73
3 Bedrooms 42.71
4 Bedrooms 15.34
5 or more bedrooms 0.85