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 10,074 people, 3,851 houses or apartments, and a median cost of homes of $616,262, real estate costs in Wood-Ridge 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 Wood-Ridge, accounting for 49.56% of the borough's housing units. Other types of housing that are prevalent in Wood-Ridge include large apartment complexes or high rise apartments ( 22.52%), duplexes, homes converted to apartments or other small apartment buildings ( 16.64%), and a few row houses and other attached homes ( 11.29%).
The most prevalent building size and type in Wood-Ridge are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 63.12% owning and 36.88% renting.
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. Wood-Ridge's housing was primarily built during this period, from the '40s through the '60s. A full 36.35% of the borough's housing hails from this era. Other housing ages represented in Wood-Ridge include homes built between 2000 and later ( 25.25%) and housing constructed before 1939 ( 21.89%). There's also some housing in Wood-Ridge built between 1970-1999 ( 16.51%).
Wood-Ridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wood-Ridge during the period has been just 4.73%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Wood-Ridge's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Wood-Ridge's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New Jersey, our data show that Wood-Ridge's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.
$616,262
for New jersey
for nation
3,851
$4,236 / per month