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 1,483, 860 total housing units (homes and apartments), and a median house value of $509,193, Waretown real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Waretown, accounting for 95.24% of the town's housing units. Other types of housing that are prevalent in Waretown include large apartment complexes or high rise apartments ( 3.91%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Waretown. Owner-occupied housing accounts for 90.12% of Waretown's homes, and 57.29% 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. Waretown's housing was primarily built during this period, from the '40s through the '60s. A full 51.06% of the town's housing hails from this era. Other housing ages represented in Waretown include homes built between 1970-1999 ( 26.43%) and housing constructed before 1939 ( 13.32%). There's also some housing in Waretown built between 2000 and later ( 9.20%).
Appreciation rates for homes in Waretown have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 111.62%, which ranks in the top 30% nationwide. This equates to an annual average Waretown house appreciation rate of 7.78%.
Appreciation rates are so strong in Waretown that despite a nationwide downturn in the housing market, Waretown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waretown appreciation rates continue to be some of the highest in America, at 12.74%, which is higher than appreciation rates in 95.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waretown. Waretown 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 Waretown's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.
$509,193
for New jersey
for nation
860
$3,989 / per month