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 8,920, 3,188 total housing units (homes and apartments), and a median house value of $313,867, Clayton real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Clayton homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Clayton, accounting for 78.62% of the borough's housing units. Other types of housing that are prevalent in Clayton include large apartment complexes or high rise apartments ( 14.37%), duplexes, homes converted to apartments or other small apartment buildings ( 5.80%), and a few row houses and other attached homes ( 1.01%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Clayton. Owner-occupied housing accounts for 73.43% of Clayton's homes, and 64.14% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Clayton 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 Clayton built between 1940-1969 ( 24.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.99%). There's also some housing in Clayton built before 1939 ( 17.12%).
Vacant housing appears to be an issue in Clayton. Fully 10.68% of the housing stock is classified as vacant. Left unchecked, vacant Clayton homes and apartments can be a drag on the real estate market, holding Clayton 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 Clayton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.52%, which ranks in the top 40% nationwide. This equates to an annual average Clayton house appreciation rate of 7.10%.
Appreciation rates are so strong in Clayton that despite a nationwide downturn in the housing market, Clayton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Clayton appreciation rates continue to be some of the highest in America, at 11.26%, which is higher than appreciation rates in 91.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Clayton. Clayton 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 Clayton's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.
$313,867
for New jersey
for nation
3,188
$2,323 / per month