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 4,154, 2,012 total housing units (homes and apartments), and a median house value of $717,296, real estate costs in Lambertville 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.
Row houses and other attached homes are the single most common housing type in Lambertville, accounting for 46.88% of the city's housing units. Other types of housing that are prevalent in Lambertville include single-family detached homes ( 20.98%), duplexes, homes converted to apartments or other small apartment buildings ( 18.41%), and a few large apartment complexes or high rise apartments ( 13.73%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Owner-occupied, three and four bedroom dwellings, primarily in row houses and other attached homes are the most prevalent type of housing you will see in Lambertville. Owner-occupied housing accounts for 69.96% of Lambertville's homes, and 51.15% have either three or four bedrooms, which is average sized relative to America.
The housing in Lambertville was primarily built before 1939 ( 53.81%), making the housing stock in Lambertville some of the oldest overall in America, although there is a range of ages of homes in Lambertville. The next most important housing age is between 1970-1999 ( 21.40%), followed by between 2000 and later ( 15.01%). There's also some housing in Lambertville built between 1940-1969 ( 9.78%).
Lambertville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lambertville during the period has been just 5.04%, which is lower than 80% of US communities.
Appreciation rates are so strong in Lambertville that despite a nationwide downturn in the housing market, Lambertville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lambertville appreciation rates continue to be some of the highest in America, at 9.69%, which is higher than appreciation rates in 85.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lambertville. Lambertville 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 Lambertville's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.
$717,296
$3,252 / per month