Teaneck, 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

Teaneck, NJ Housing Market Trends

With a population of 40,284, 2,287 total housing units (homes and apartments), and a median house value of $472,259, real estate costs in Teaneck 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 Teaneck, accounting for 73.35% of the town's housing units. Other types of housing that are prevalent in Teaneck include large apartment complexes or high rise apartments ( 15.10%), duplexes, homes converted to apartments or other small apartment buildings ( 7.91%), and a few row houses and other attached homes ( 3.55%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Teaneck. Owner-occupied housing accounts for 72.22% of Teaneck's homes, and 61.14% 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. Teaneck's housing was primarily built during this period, from the '40s through the '60s. A full 45.73% of the town's housing hails from this era. Other housing ages represented in Teaneck include homes built before 1939 ( 35.84%) and housing constructed between 1970-1999 ( 13.91%). There's also some housing in Teaneck built between 2000 and later ( 4.53%).

Teaneck Home Appreciation Rates

Teaneck's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Teaneck during the period has been just 2.77%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Teaneck's appreciation rate, at 8.85%, has been at or slightly above the national average. In the latest quarter, Teaneck's appreciation rate has been 3.16%, which annualizes to a rate of 13.24%.

Relative to New Jersey, our data show that Teaneck's latest annual appreciation rate is lower than 60% 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 town. Individual neighborhoods within Teaneck differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Teaneck - 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 Teaneck real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$472,259

Teaneck, NJ HOME PRICES

> $1,196,000
5.0%
5.0%
$897,001 - $1,196,000
5.9%
5.9%
$598,001 - $897,000
13.6%
13.6%
$478,001 - $598,000
26.0%
26.0%
$359,001 - $478,000
35.7%
35.7%
$239,001 - $359,000
9.7%
9.7%
$120,001 - $239,000
2.6%
2.6%
$60,001 - $120,000
0.9%
0.9%
$0 - $60,000
0.6%
0.6%
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:
2,287

Teaneck 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
87.23% 2.96%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,531 / per month

Homeownership Rate

Owners
72.2%
72.2%
Renters
27.8%
27.8%
Vacant
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.5%
4.5%
1970 - 1999
13.9%
13.9%
1940 - 1969
45.7%
45.7%
1939 or Older
35.8%
35.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.4%
73.4%
Townhomes
3.6%
3.6%
Small Apt. Buildings
7.9%
7.9%
Apt. Complexes
15.1%
15.1%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.2%
1.2%
1 Bedroom
10.3%
10.3%
2 Bedrooms
18.0%
18.0%
3 Bedrooms
42.1%
42.1%
4 Bedrooms
19.1%
19.1%
5 or more bedrooms
9.3%
9.3%
0.0% 100.0%
% OF HOMES