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 8,847, 3,628 total housing units (homes and apartments), and a median house value of $704,908, real estate costs in Caldwell are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.
Large apartment complexes or high rise apartments are the single most common housing type in Caldwell, accounting for 39.13% of the borough's housing units. Other types of housing that are prevalent in Caldwell include single-family detached homes ( 35.73%), duplexes, homes converted to apartments or other small apartment buildings ( 17.65%), and a few row houses and other attached homes ( 7.04%). Boroughs that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of boroughs are often walkable and compact, and often have a lively downtown.
People in Caldwell primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Caldwell 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. Caldwell's housing was primarily built during this period, from the '40s through the '60s. A full 42.77% of the borough's housing hails from this era. Other housing ages represented in Caldwell include homes built before 1939 ( 31.31%) and housing constructed between 1970-1999 ( 21.61%). There's also some housing in Caldwell built between 2000 and later ( 4.31%).
Caldwell's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Caldwell during the period has been just 4.62%, which is lower than 80% of US communities.
Appreciation rates are so strong in Caldwell that despite a nationwide downturn in the housing market, Caldwell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Caldwell appreciation rates continue to be some of the highest in America, at 11.81%, which is higher than appreciation rates in 93.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Caldwell. Caldwell 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 Caldwell's latest annual appreciation rate is higher than 60% of the other cities and towns in New Jersey.
One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Caldwell differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Caldwell - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Caldwell real estate investment or home purchase decisions.
$704,908
$3,625 / per month