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 11,786, 4,994 total housing units (homes and apartments), and a median house value of $607,248, real estate costs in Wallington 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.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Wallington, accounting for 44.53% of the borough's housing units. Other types of housing that are prevalent in Wallington include large apartment complexes or high rise apartments ( 30.26%), single-family detached homes ( 22.61%), and a few row houses and other attached homes ( 2.59%). Boroughs with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact boroughs that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Wallington is dominated by renter-occupied one, two, or no bedrooms apartments. 65.58% of Wallington's dwellings are rentals.
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. Wallington's housing was primarily built during this period, from the '40s through the '60s. A full 52.17% of the borough's housing hails from this era. Other housing ages represented in Wallington include homes built between 1970-1999 ( 21.98%) and housing constructed before 1939 ( 20.59%). There's also some housing in Wallington built between 2000 and later ( 5.27%).
Real estate appreciation rates in Wallington's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.80% during the period.
Appreciation rates are so strong in Wallington that despite a nationwide downturn in the housing market, Wallington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wallington appreciation rates continue to be some of the highest in America, at 9.20%, which is higher than appreciation rates in 82.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wallington. Wallington appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New Jersey, our data show that Wallington's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
$607,248
for New jersey
for nation
4,994
$3,096 / per month