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 4,620 people, 2,515 houses or apartments, and a median cost of homes of $617,628, real estate costs in Highlands 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 Highlands, accounting for 38.67% of the borough's housing units. Other types of housing that are prevalent in Highlands include large apartment complexes or high rise apartments ( 36.44%), duplexes, homes converted to apartments or other small apartment buildings ( 15.38%), and a few row houses and other attached homes ( 7.52%).
Dwellings in Highlands tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 64.38% of the homes in Highlands have two or fewer bedrooms.
There is a lot of housing in Highlands 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 Highlands built before 1939 ( 27.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.85%). There's also some housing in Highlands built between 2000 and later ( 12.72%).
Vacant housing appears to be an issue in Highlands. Fully 14.02% of the housing stock is classified as vacant. Left unchecked, vacant Highlands homes and apartments can be a drag on the real estate market, holding Highlands 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.
In the last 10 years, Highlands has experienced some of the highest home appreciation rates of any community in the nation. Highlands real estate appreciated 116.11% over the last ten years, which is an average annual home appreciation rate of 8.01%, putting Highlands in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Highlands definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Highlands's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Highlands's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New Jersey, our data show that Highlands's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.
$617,628
for New jersey
for nation
2,515
$3,179 / per month