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 4,385, 1,655 total housing units (homes and apartments), and a median house value of $242,314, house prices in Egg Harbor City are solidly below the national average.
Single-family detached homes are the single most common housing type in Egg Harbor City, accounting for 65.45% of the city's housing units. Other types of housing that are prevalent in Egg Harbor City include large apartment complexes or high rise apartments ( 19.63%), duplexes, homes converted to apartments or other small apartment buildings ( 8.89%), and a few row houses and other attached homes ( 6.03%).
The most prevalent building size and type in Egg Harbor City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.69% owning and 48.31% 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. Egg Harbor City's housing was primarily built during this period, from the '40s through the '60s. A full 45.87% of the city's housing hails from this era. Other housing ages represented in Egg Harbor City include homes built before 1939 ( 26.67%) and housing constructed between 1970-1999 ( 15.13%). There's also some housing in Egg Harbor City built between 2000 and later ( 12.33%).
Vacant housing appears to be an issue in Egg Harbor City. Fully 12.43% of the housing stock is classified as vacant. Left unchecked, vacant Egg Harbor City homes and apartments can be a drag on the real estate market, holding Egg Harbor 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.
Egg Harbor City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Egg Harbor City during the period has been just 5.98%, which is lower than 70% of US communities.
Appreciation rates are so strong in Egg Harbor City that despite a nationwide downturn in the housing market, Egg Harbor City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Egg Harbor City appreciation rates continue to be some of the highest in America, at 11.72%, which is higher than appreciation rates in 94.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Egg Harbor City. Egg Harbor City appreciation rates in the latest quarter were at 3.18%, which equates to an annual appreciation rate of 13.33%.
Importantly, this makes Egg Harbor City one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to New Jersey, our data show that Egg Harbor City's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
$242,314
for New jersey
for nation
1,655
$2,303 / per month