Trenton, 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

Trenton, NJ Housing Market Trends

With a population of 83,203, 27,561 total housing units (homes and apartments), and a median house value of $110,986, house prices in Trenton are some of the most affordable in New Jersey as well as the nation.

Row houses and other attached homes are the single most common housing type in Trenton, accounting for 47.61% of the city's housing units. Other types of housing that are prevalent in Trenton include large apartment complexes or high rise apartments ( 22.30%), duplexes, homes converted to apartments or other small apartment buildings ( 15.95%), and a few single-family detached homes ( 14.02%). 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.

Renters dominate Trenton's housing market, and most live in three of four bedroom dwellings, chiefly found in row houses and other attached homes.

The housing in Trenton was primarily built before 1939 ( 60.59%), making the housing stock in Trenton some of the oldest overall in America, although there is a range of ages of homes in Trenton. The next most important housing age is between 1940-1969 ( 26.20%), followed by between 1970-1999 ( 8.73%). There's also some housing in Trenton built between 2000 and later ( 4.49%).

Vacant housing appears to be an issue in Trenton. Fully 20.43% of the housing stock is classified as vacant. Left unchecked, vacant Trenton homes and apartments can be a drag on the real estate market, holding Trenton 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.

Trenton Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Trenton, where house values have increased just 0.53%, which is annualized rate of 0.10%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Trenton that despite a nationwide downturn in the housing market, Trenton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Trenton appreciation rates continue to be some of the highest in America, at 8.92%, which is higher than appreciation rates in 83.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Trenton. Trenton appreciation rates in the latest quarter were at 1.54%, which equates to an annual appreciation rate of 6.31%.

Relative to New Jersey, our data show that Trenton'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 Trenton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Trenton - 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 Trenton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$110,986

Trenton, NJ HOME PRICES

> $1,195,000
0.7%
0.7%
$896,001 - $1,195,000
0.6%
0.6%
$597,001 - $896,000
1.4%
1.4%
$478,001 - $597,000
0.4%
0.4%
$358,001 - $478,000
2.9%
2.9%
$239,001 - $358,000
4.8%
4.8%
$119,001 - $239,000
30.1%
30.1%
$60,001 - $119,000
48.8%
48.8%
$0 - $60,000
10.3%
10.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for NJ

Value Relative To Nation

Number Of Homes And Apartments:
27,561

Trenton 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
45.13% 1.77%
1
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,600 / per month

Homeownership Rate

Owners
34.4%
34.4%
Renters
65.6%
65.6%
Vacant
20.4%
20.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.5%
4.5%
1970 - 1999
8.7%
8.7%
1940 - 1969
26.2%
26.2%
1939 or Older
60.6%
60.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
14.0%
14.0%
Townhomes
47.6%
47.6%
Small Apt. Buildings
15.9%
15.9%
Apt. Complexes
22.3%
22.3%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.9%
5.9%
1 Bedroom
17.3%
17.3%
2 Bedrooms
21.4%
21.4%
3 Bedrooms
39.2%
39.2%
4 Bedrooms
11.7%
11.7%
5 or more bedrooms
4.5%
4.5%
0.0% 100.0%
% OF HOMES