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 7,506, 2,835 total housing units (homes and apartments), and a median house value of $437,958, Berlin real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Berlin, accounting for 71.40% of the borough's housing units. Other types of housing that are prevalent in Berlin include row houses and other attached homes ( 11.97%), duplexes, homes converted to apartments or other small apartment buildings ( 10.81%), and a few large apartment complexes or high rise apartments ( 5.82%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Berlin. Owner-occupied housing accounts for 78.25% of Berlin's homes, and 69.70% 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. Berlin's housing was primarily built during this period, from the '40s through the '60s. A full 37.55% of the borough's housing hails from this era. Other housing ages represented in Berlin include homes built between 1970-1999 ( 33.69%) and housing constructed between 2000 and later ( 16.16%). There's also some housing in Berlin built before 1939 ( 12.60%).
Real estate appreciation rates in Berlin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.49% during the period.
Appreciation rates are so strong in Berlin that despite a nationwide downturn in the housing market, Berlin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Berlin appreciation rates continue to be some of the highest in America, at 9.49%, which is higher than appreciation rates in 84.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Berlin. Berlin appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to New Jersey, our data show that Berlin's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
$437,958
for New jersey
for nation
2,835
$2,797 / per month