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 11,971, 4,567 total housing units (homes and apartments), and a median house value of $497,924, Bound Brook real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Bound Brook, accounting for 43.94% of the borough's housing units. Other types of housing that are prevalent in Bound Brook include duplexes, homes converted to apartments or other small apartment buildings ( 24.97%), large apartment complexes or high rise apartments ( 23.47%), and a few row houses and other attached homes ( 7.62%).
People in Bound Brook primarily live in small (one, two or no bedroom) single-family detached homes. Bound Brook has a mixture of owner-occupied and renter-occupied housing.
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. Bound Brook's housing was primarily built during this period, from the '40s through the '60s. A full 40.97% of the borough's housing hails from this era. Other housing ages represented in Bound Brook include homes built before 1939 ( 27.63%) and housing constructed between 2000 and later ( 16.33%). There's also some housing in Bound Brook built between 1970-1999 ( 15.07%).
Real estate appreciation rates in Bound Brook's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.08% during the period.
Appreciation rates are so strong in Bound Brook that despite a nationwide downturn in the housing market, Bound Brook real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bound Brook appreciation rates continue to be some of the highest in America, at 9.61%, which is higher than appreciation rates in 85.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bound Brook. Bound Brook 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 Bound Brook's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.
$497,924
for New jersey
for nation
4,567
$3,360 / per month