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 2,507, 833 total housing units (homes and apartments), and a median house value of $278,456, Beverly real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Beverly homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Beverly, accounting for 62.55% of the city's housing units. Other types of housing that are prevalent in Beverly include row houses and other attached homes ( 16.40%), duplexes, homes converted to apartments or other small apartment buildings ( 15.99%), and a few large apartment complexes or high rise apartments ( 5.06%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Beverly. Owner-occupied housing accounts for 78.03% of Beverly's homes, and 65.38% have either three or four bedrooms, which is average sized relative to America.
The housing in Beverly was primarily built before 1939 ( 42.61%), making the housing stock in Beverly some of the oldest overall in America, although there is a range of ages of homes in Beverly. The next most important housing age is between 1940-1969 ( 34.72%), followed by between 1970-1999 ( 18.42%). There's also some housing in Beverly built between 2000 and later ( 4.25%).
Vacant housing appears to be an issue in Beverly. Fully 15.69% of the housing stock is classified as vacant. Left unchecked, vacant Beverly homes and apartments can be a drag on the real estate market, holding Beverly real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Beverly have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.04%, which ranks in the top 40% nationwide. This equates to an annual average Beverly house appreciation rate of 7.13%.
NeighborhoodScout's data show that during the latest twelve months, Beverly's appreciation rate, at 6.79%, has been at or slightly above the national average. In the latest quarter, Beverly's appreciation rate has been 1.44%, which annualizes to a rate of 5.90%.
Relative to New Jersey, our data show that Beverly's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.
$278,456
for New jersey
for nation
833
$2,207 / per month