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 7,575 people, 2,446 houses or apartments, and a median cost of homes of $498,996, Dunellen real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Dunellen, accounting for 66.15% of the borough's housing units. Other types of housing that are prevalent in Dunellen include duplexes, homes converted to apartments or other small apartment buildings ( 22.46%), large apartment complexes or high rise apartments ( 9.44%), and a few row houses and other attached homes ( 1.73%).
The most prevalent building size and type in Dunellen are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 62.70% owning and 37.30% renting.
The housing in Dunellen was primarily built before 1939 ( 39.01%), making the housing stock in Dunellen some of the oldest overall in America, although there is a range of ages of homes in Dunellen. The next most important housing age is between 1940-1969 ( 35.76%), followed by between 1970-1999 ( 15.57%). There's also some housing in Dunellen built between 2000 and later ( 9.66%).
Vacant housing appears to be an issue in Dunellen. Fully 11.82% of the housing stock is classified as vacant. Left unchecked, vacant Dunellen homes and apartments can be a drag on the real estate market, holding Dunellen 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.
Dunellen's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Dunellen during the period has been just 5.72%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Dunellen's appreciation rate, at 7.36%, has been at or slightly above the national average. In the latest quarter, Dunellen's appreciation rate has been 2.82%, which annualizes to a rate of 11.77%.
Relative to New Jersey, our data show that Dunellen's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.
$498,996
for New jersey
for nation
2,446
$2,756 / per month