Whippany, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Whippany Neighborhoods Since 2000




Whippany, 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

Whippany Housing Market Information

With a population of 9,032, 1,703 total housing units (homes and apartments), and a median house value of $540,924, real estate costs in Whippany 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 Whippany, accounting for 70.29% of the town's housing units. Other types of housing that are prevalent in Whippany include large apartment complexes or high rise apartments ( 14.32%), row houses and other attached homes ( 12.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Whippany. Owner-occupied housing accounts for 86.98% of Whippany's homes, and 64.21% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Whippany built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Whippany built between 1940-1969 ( 41.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.52%). There's also some housing in Whippany built before 1939 ( 4.08%).

Whippany Home Appreciation Rates

Real estate appreciation rates in Whippany's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.24% during the period.

Over the last year, Whippany appreciation rates have trailed the rest of the nation. In the last twelve months, Whippany's appreciation rate has been 2.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Whippany were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Whippany's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$540,924

Whippany, NJ HOME PRICES

Value Range
> $1,102,000 0.5
$826,001 - $1,102,000 13.9
$551,001 - $826,000 26.7
$441,001 - $551,000 29.0
$331,001 - $441,000 18.6
$220,001 - $331,000 2.8
$110,001 - $220,000 1.9
$55,001 - $110,000 3.4
$0 - $55,000 3.2

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
4.89276924879878 21.5447154471545

Number Of Homes And Apartments:
1,703

Whippany 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
63.62% 2.90% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,848 / per month

Homeownership Rate

Homeownership
Owners 86.98
Renters 13.02
Vacant 3.76

Housing Market Details

 

Age of Homes

AGE OF Whippany HOMES
2000 or Newer 10.5
1970 - 1999 44.0
1940 - 1969 41.4
1939 or Older 4.1

Types of Homes

TYPE OF Whippany HOMES
Single-Family 70.3
Townhomes 12.6
Small Apt. Buildings 2.8
Apt. Complexes 14.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Whippany HOMES
No Bedroom 1.95
1 Bedroom 10.47
2 Bedrooms 17.37
3 Bedrooms 29.62
4 Bedrooms 34.59
5 or more bedrooms 6.00