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 19,801, 8,531 total housing units (homes and apartments), and a median house value of $697,811, real estate costs in Harrison 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.
Large apartment complexes or high rise apartments are the single most common housing type in Harrison, accounting for 50.45% of the town's housing units. Other types of housing that are prevalent in Harrison include duplexes, homes converted to apartments or other small apartment buildings ( 38.44%), single-family detached homes ( 6.40%), and a few row houses and other attached homes ( 4.55%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Harrison is dominated by renter-occupied one, two, or no bedrooms apartments. 78.10% of Harrison's dwellings are rentals.
Harrison homes and real estate are some of the newest in America. 38.24% of Harrison's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Harrison real estate market has to offer. Quite a bit of the housing here was also built before 1939 ( 23.57%), and between 1970-1999 ( 19.51%). There's also some housing in Harrison built between 1940-1969 ( 18.68%).
Appreciation rates for homes in Harrison have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.32%, which ranks in the top 40% nationwide. This equates to an annual average Harrison house appreciation rate of 6.98%.
Appreciation rates are so strong in Harrison that despite a nationwide downturn in the housing market, Harrison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harrison appreciation rates continue to be some of the highest in America, at 9.40%, which is higher than appreciation rates in 83.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harrison. Harrison 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 Harrison's latest annual appreciation rate is lower than 70% 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 town. Individual neighborhoods within Harrison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harrison - 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 Harrison real estate investment or home purchase decisions.
$697,811
for New jersey
for nation
8,531
$3,299 / per month