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 4,906, 1,898 total housing units (homes and apartments), and a median house value of $553,356, real estate costs in Flemington 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 Flemington, accounting for 36.04% of the borough's housing units. Other types of housing that are prevalent in Flemington include large apartment complexes or high rise apartments ( 30.55%), duplexes, homes converted to apartments or other small apartment buildings ( 29.46%), and a few row houses and other attached homes ( 3.95%).
People in Flemington primarily live in small (one, two or no bedroom) single-family detached homes. Flemington has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Flemington 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 Flemington built between 1940-1969 ( 32.33%). A lesser amount of the housing stock also hails from before 1939 ( 25.90%). There's also some housing in Flemington built between 2000 and later ( 6.23%).
Flemington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Flemington during the period has been just 5.47%, which is lower than 70% of US communities.
Appreciation rates are so strong in Flemington that despite a nationwide downturn in the housing market, Flemington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Flemington appreciation rates continue to be some of the highest in America, at 11.30%, which is higher than appreciation rates in 92.01% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Flemington. Flemington 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 Flemington'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 Flemington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Flemington - 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 Flemington real estate investment or home purchase decisions.
$553,356
$2,882 / per month