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 9,072, 3,060 total housing units (homes and apartments), and a median house value of $1,109,925, Cresskill house prices are not only among the most expensive in New Jersey, Cresskill real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Cresskill, accounting for 76.12% of the borough's housing units. Other types of housing that are prevalent in Cresskill include large apartment complexes or high rise apartments ( 12.63%), row houses and other attached homes ( 7.11%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.89%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cresskill. Owner-occupied housing accounts for 79.07% of Cresskill's homes, and 72.67% have either three or four bedrooms, which is average sized relative to America.
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. Cresskill's housing was primarily built during this period, from the '40s through the '60s. A full 50.89% of the borough's housing hails from this era. Other housing ages represented in Cresskill include homes built between 2000 and later ( 20.44%) and housing constructed between 1970-1999 ( 17.67%). There's also some housing in Cresskill built before 1939 ( 11.00%).
Cresskill's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cresskill during the period has been just 5.16%, which is lower than 80% of US communities.
Appreciation rates are so strong in Cresskill that despite a nationwide downturn in the housing market, Cresskill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cresskill appreciation rates continue to be some of the highest in America, at 13.33%, which is higher than appreciation rates in 95.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cresskill. Cresskill 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 Cresskill's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.
$1,109,925
for New jersey
for nation
3,060
$4,602 / per month