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 39,862 people, 14,703 houses or apartments, and a median cost of homes of $551,677, real estate costs in Kearny 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.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Kearny, accounting for 41.85% of the town's housing units. Other types of housing that are prevalent in Kearny include single-family detached homes ( 33.64%), large apartment complexes or high rise apartments ( 20.30%), and a few row houses and other attached homes ( 4.04%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.
People in Kearny primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Kearny has a mixture of owner-occupied and renter-occupied housing.
The housing in Kearny was primarily built before 1939 ( 38.35%), making the housing stock in Kearny some of the oldest overall in America, although there is a range of ages of homes in Kearny. The next most important housing age is between 1940-1969 ( 37.78%), followed by between 1970-1999 ( 18.00%). There's also some housing in Kearny built between 2000 and later ( 5.87%).
Appreciation rates for homes in Kearny have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.64%, which ranks in the top 50% nationwide. This equates to an annual average Kearny house appreciation rate of 6.94%.
Appreciation rates are so strong in Kearny that despite a nationwide downturn in the housing market, Kearny real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kearny appreciation rates continue to be some of the highest in America, at 11.94%, which is higher than appreciation rates in 93.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kearny. Kearny 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 Kearny'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 town. Individual neighborhoods within Kearny differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Kearny - 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 Kearny real estate investment or home purchase decisions.
$551,677
for New jersey
for nation
14,703
$3,085 / per month