Atlantic City, NJ Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Atlantic City, NJ Housing Market Trends

With a population of 37,743, 15,504 total housing units (homes and apartments), and a median house value of $175,854, Atlantic City real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Atlantic City homes are still considered rather expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Atlantic City, accounting for 48.95% of the city's housing units. Other types of housing that are prevalent in Atlantic City include single-family detached homes ( 17.68%), duplexes, homes converted to apartments or other small apartment buildings ( 17.24%), and a few row houses and other attached homes ( 15.92%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Atlantic City is dominated by renter-occupied one, two, or no bedrooms apartments. 73.27% of Atlantic City's dwellings are rentals.

The housing in Atlantic City was primarily built before 1939 ( 32.30%), making the housing stock in Atlantic City some of the oldest overall in America, although there is a range of ages of homes in Atlantic City. The next most important housing age is between 1940-1969 ( 31.43%), followed by between 1970-1999 ( 28.91%). There's also some housing in Atlantic City built between 2000 and later ( 7.37%).

Vacant housing appears to be an issue in Atlantic City. Fully 24.11% of the housing stock is classified as vacant. Left unchecked, vacant Atlantic City homes and apartments can be a drag on the real estate market, holding Atlantic City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Atlantic City Home Appreciation Rates

Homes have actually lost value in Atlantic City over the last then years, as home values have seen a decline of 8.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Atlantic City home appreciation rates at 1.38%, which equates to an annual appreciation rate of 5.63%.

Appreciation rates are so strong in Atlantic City that despite a nationwide downturn in the housing market, Atlantic City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Atlantic City appreciation rates continue to be some of the highest in America, at 9.45%, which is higher than appreciation rates in 87.11% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Atlantic City. Atlantic City appreciation rates in the latest quarter were at 1.38%, which equates to an annual appreciation rate of 5.63%.

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

Average Home Values

 

Median Home Value:
$175,854

Atlantic City, NJ HOME PRICES

> $1,233,000
1.0%
1.0%
$925,001 - $1,233,000
1.2%
1.2%
$617,001 - $925,000
0.8%
0.8%
$494,001 - $617,000
1.7%
1.7%
$370,001 - $494,000
11.4%
11.4%
$246,001 - $370,000
18.7%
18.7%
$124,001 - $246,000
41.3%
41.3%
$62,001 - $124,000
18.4%
18.4%
$0 - $62,000
5.6%
5.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
15,504

Atlantic City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
47.05% 1.83%
1
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,477 / per month

Homeownership Rate

Owners
26.7%
26.7%
Renters
73.3%
73.3%
Vacant
24.1%
24.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.4%
7.4%
1970 - 1999
28.9%
28.9%
1940 - 1969
31.4%
31.4%
1939 or Older
32.3%
32.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
17.7%
17.7%
Townhomes
15.9%
15.9%
Small Apt. Buildings
17.2%
17.2%
Apt. Complexes
49.0%
49.0%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
11.3%
11.3%
1 Bedroom
26.9%
26.9%
2 Bedrooms
27.0%
27.0%
3 Bedrooms
24.9%
24.9%
4 Bedrooms
8.2%
8.2%
5 or more bedrooms
1.7%
1.7%
0.0% 100.0%
% OF HOMES