Weehawken, 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

Weehawken, NJ Housing Market Trends

With a population of 14,009, 1,700 total housing units (homes and apartments), and a median house value of $761,752, Weehawken house prices are not only among the most expensive in New Jersey, Weehawken real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Weehawken, accounting for 53.23% of the town's housing units. Other types of housing that are prevalent in Weehawken include duplexes, homes converted to apartments or other small apartment buildings ( 34.43%), single-family detached homes ( 8.13%), and a few row houses and other attached homes ( 4.22%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

Weehawken is dominated by renter-occupied one, two, or no bedrooms apartments. 69.80% of Weehawken's dwellings are rentals.

The housing in Weehawken was primarily built before 1939 ( 48.80%), making the housing stock in Weehawken some of the oldest overall in America, although there is a range of ages of homes in Weehawken. The next most important housing age is between 2000 and later ( 20.63%), followed by between 1940-1969 ( 19.22%). There's also some housing in Weehawken built between 1970-1999 ( 11.34%).

Weehawken Home Appreciation Rates

In the last 10 years, Weehawken has experienced some of the highest home appreciation rates of any community in the nation. Weehawken real estate appreciated 87.63% over the last ten years, which is an average annual home appreciation rate of 6.50%, putting Weehawken in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Weehawken definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Weehawken appreciation rates have trailed the rest of the nation. In the last twelve months, Weehawken's appreciation rate has been 6.69%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Weehawken were at 3.14%, which equates to an annual appreciation rate of 13.14%.

Relative to New Jersey, our data show that Weehawken's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$761,752

Weehawken, NJ HOME PRICES

> $1,282,000
14.1%
14.1%
$962,001 - $1,282,000
17.6%
17.6%
$641,001 - $962,000
30.7%
30.7%
$513,001 - $641,000
10.6%
10.6%
$385,001 - $513,000
15.0%
15.0%
$257,001 - $385,000
4.2%
4.2%
$128,001 - $257,000
7.7%
7.7%
$64,001 - $128,000
0.0%
0.0%
$0 - $64,000
0.1%
0.1%
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:
1,700

Weehawken 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
216.37% 5.50%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,246 / per month

Homeownership Rate

Owners
30.2%
30.2%
Renters
69.8%
69.8%
Vacant
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
20.6%
20.6%
1970 - 1999
11.3%
11.3%
1940 - 1969
19.2%
19.2%
1939 or Older
48.8%
48.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
8.1%
8.1%
Townhomes
4.2%
4.2%
Small Apt. Buildings
34.4%
34.4%
Apt. Complexes
53.2%
53.2%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.9%
4.9%
1 Bedroom
32.4%
32.4%
2 Bedrooms
33.4%
33.4%
3 Bedrooms
21.6%
21.6%
4 Bedrooms
5.0%
5.0%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES