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 14,531, 5,756 total housing units (homes and apartments), and a median house value of $430,713, Hopatcong real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Hopatcong, accounting for 93.97% of the borough's housing units. Other types of housing that are prevalent in Hopatcong include duplexes, homes converted to apartments or other small apartment buildings ( 2.89%), large apartment complexes or high rise apartments ( 1.66%), and a few row houses and other attached homes ( 1.48%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hopatcong. Owner-occupied housing accounts for 87.36% of Hopatcong's homes, and 61.65% 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. Hopatcong's housing was primarily built during this period, from the '40s through the '60s. A full 56.17% of the borough's housing hails from this era. Other housing ages represented in Hopatcong include homes built between 1970-1999 ( 32.79%) and housing constructed before 1939 ( 7.39%). There's also some housing in Hopatcong built between 2000 and later ( 3.65%).
Vacant housing appears to be an issue in Hopatcong. Fully 11.39% of the housing stock is classified as vacant. Left unchecked, vacant Hopatcong homes and apartments can be a drag on the real estate market, holding Hopatcong 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.
Appreciation rates for homes in Hopatcong have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.65%, which ranks in the top 50% nationwide. This equates to an annual average Hopatcong house appreciation rate of 6.94%.
Appreciation rates are so strong in Hopatcong that despite a nationwide downturn in the housing market, Hopatcong real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hopatcong appreciation rates continue to be some of the highest in America, at 12.45%, which is higher than appreciation rates in 94.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hopatcong. Hopatcong 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 Hopatcong's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.
$430,713
for New jersey
for nation
5,756
$3,609 / per month