Ridgewood, 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

Ridgewood, NJ Housing Market Trends

With a population of 25,056, 8,300 total housing units (homes and apartments), and a median house value of $818,909, Ridgewood house prices are not only among the most expensive in New Jersey, Ridgewood real estate also is some of the most expensive in all of America.

Ridgewood is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Ridgewood than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ridgewood. Owner-occupied housing accounts for 77.40% of Ridgewood's homes, and 60.95% 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. Ridgewood's housing was primarily built during this period, from the '40s through the '60s. A full 43.21% of the village's housing hails from this era. Other housing ages represented in Ridgewood include homes built before 1939 ( 41.63%) and housing constructed between 1970-1999 ( 12.23%). There's also some housing in Ridgewood built between 2000 and later ( 2.93%).

Ridgewood Home Appreciation Rates

Ridgewood's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ridgewood during the period has been just 2.37%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Ridgewood's appreciation rate, at 9.63%, has been at or slightly above the national average. In the latest quarter, Ridgewood's appreciation rate has been 3.20%, which annualizes to a rate of 13.43%.

Relative to New Jersey, our data show that Ridgewood's latest annual appreciation rate is higher than 50% 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 village. Individual neighborhoods within Ridgewood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ridgewood - 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 Ridgewood real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$818,909

Ridgewood, NJ HOME PRICES

> $1,150,000
21.0%
21.0%
$862,001 - $1,150,000
28.5%
28.5%
$575,001 - $862,000
34.1%
34.1%
$460,001 - $575,000
10.3%
10.3%
$345,001 - $460,000
2.0%
2.0%
$230,001 - $345,000
1.4%
1.4%
$115,001 - $230,000
1.5%
1.5%
$57,001 - $115,000
0.5%
0.5%
$0 - $57,000
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for NJ

Value Relative To Nation

Number Of Homes And Apartments:
8,300

Ridgewood 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
96.13% 3.18%
6
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,621 / per month

Homeownership Rate

Owners
77.4%
77.4%
Renters
22.6%
22.6%
Vacant
3.0%
3.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
2.9%
2.9%
1970 - 1999
12.2%
12.2%
1940 - 1969
43.2%
43.2%
1939 or Older
41.6%
41.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
78.4%
78.4%
Townhomes
3.1%
3.1%
Small Apt. Buildings
8.8%
8.8%
Apt. Complexes
9.7%
9.7%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.1%
2.1%
1 Bedroom
8.0%
8.0%
2 Bedrooms
10.7%
10.7%
3 Bedrooms
27.5%
27.5%
4 Bedrooms
33.4%
33.4%
5 or more bedrooms
18.2%
18.2%
0.0% 100.0%
% OF HOMES