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 2,534 people, 1,144 houses or apartments, and a median cost of homes of $409,138, Belvidere real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Belvidere homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Belvidere, accounting for 60.46% of the town's housing units. Other types of housing that are prevalent in Belvidere include duplexes, homes converted to apartments or other small apartment buildings ( 24.06%), large apartment complexes or high rise apartments ( 12.24%), and a few row houses and other attached homes ( 3.23%).
The most prevalent building size and type in Belvidere are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.70% owning and 45.30% renting.
The housing in Belvidere was primarily built before 1939 ( 53.15%), making the housing stock in Belvidere some of the oldest overall in America, although there is a range of ages of homes in Belvidere. The next most important housing age is between 1940-1969 ( 25.00%), followed by between 1970-1999 ( 20.49%). There's also some housing in Belvidere built between 2000 and later ( 1.36%).
Appreciation rates for homes in Belvidere have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.87%, which ranks in the top 40% nationwide. This equates to an annual average Belvidere house appreciation rate of 7.28%.
Appreciation rates are so strong in Belvidere that despite a nationwide downturn in the housing market, Belvidere real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Belvidere appreciation rates continue to be some of the highest in America, at 14.23%, which is higher than appreciation rates in 96.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Belvidere. Belvidere appreciation rates in the latest quarter were at 4.93%, which equates to an annual appreciation rate of 21.23%.
Importantly, this makes Belvidere one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to New Jersey, our data show that Belvidere's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.
$409,138
for New jersey
for nation
1,144
$1,417 / per month