Margate 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 Q2 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

Margate City, NJ Housing Market Trends

With 5,865 people, 2,933 houses or apartments, and a median cost of homes of $618,025, real estate costs in Margate City 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 Margate City, accounting for 60.52% of the city's housing units. Other types of housing that are prevalent in Margate City include large apartment complexes or high rise apartments ( 22.47%), duplexes, homes converted to apartments or other small apartment buildings ( 12.23%), and a few row houses and other attached homes ( 4.78%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Margate City. Owner-occupied housing accounts for 81.04% of Margate City's homes, and 53.29% 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. Margate City's housing was primarily built during this period, from the '40s through the '60s. A full 46.23% of the city's housing hails from this era. Other housing ages represented in Margate City include homes built between 1970-1999 ( 23.66%) and housing constructed before 1939 ( 15.40%). There's also some housing in Margate City built between 2000 and later ( 14.72%).

A decent proportion of the Margate City housing stock is seasonally occupied. That is, homes and condos in Margate City are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Margate City housing market speaks to its popularity as a vacation location of choice.

Margate City Home Appreciation Rates

Real estate appreciation rates in Margate City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.05% during the period.

Appreciation rates are so strong in Margate City that despite a nationwide downturn in the housing market, Margate City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Margate City appreciation rates continue to be some of the highest in America, at 10.73%, which is higher than appreciation rates in 73.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Margate City. Margate City appreciation rates in the latest quarter were at 5.94%, which equates to an annual appreciation rate of 25.98%.

Importantly, this makes Margate 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 Margate City's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$618,025

Margate City, NJ HOME PRICES

> $1,283,000
8.3%
8.3%
$962,001 - $1,283,000
14.4%
14.4%
$641,001 - $962,000
23.4%
23.4%
$513,001 - $641,000
19.8%
19.8%
$385,001 - $513,000
14.1%
14.1%
$256,001 - $385,000
10.2%
10.2%
$128,001 - $256,000
6.7%
6.7%
$64,001 - $128,000
1.5%
1.5%
$0 - $64,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for NJ

Value Relative To Nation

Number Of Homes And Apartments:
2,933

Margate City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
164.06% 4.62%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,904 / per month

Homeownership Rate

Owners
81.0%
81.0%
Renters
19.0%
19.0%
Vacant
58.5%
58.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.7%
14.7%
1970 - 1999
23.7%
23.7%
1940 - 1969
46.2%
46.2%
1939 or Older
15.4%
15.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
60.5%
60.5%
Townhomes
4.8%
4.8%
Small Apt. Buildings
12.2%
12.2%
Apt. Complexes
22.5%
22.5%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.1%
3.1%
1 Bedroom
11.4%
11.4%
2 Bedrooms
20.7%
20.7%
3 Bedrooms
29.0%
29.0%
4 Bedrooms
24.3%
24.3%
5 or more bedrooms
11.4%
11.4%
0.0% 100.0%
% OF HOMES