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 1,675 people, 582 houses or apartments, and a median cost of homes of $774,523, real estate costs in Chester 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.
Single-family detached homes are the single most common housing type in Chester, accounting for 73.83% of the borough's housing units. Other types of housing that are prevalent in Chester include large apartment complexes or high rise apartments ( 10.40%), duplexes, homes converted to apartments or other small apartment buildings ( 8.05%), and a few row houses and other attached homes ( 4.03%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chester. Owner-occupied housing accounts for 73.07% of Chester's homes, and 58.56% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Chester built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Chester built between 1940-1969 ( 34.06%). A lesser amount of the housing stock also hails from before 1939 ( 14.43%). There's also some housing in Chester built between 2000 and later ( 13.42%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Chester, where house values have increased just 37.96%, which is annualized rate of 3.27%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Chester's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Chester's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New Jersey, our data show that Chester's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.
$774,523
for New jersey
for nation
582
$2,820 / per month