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 3,812 people, 1,473 houses or apartments, and a median cost of homes of $449,735, Merchantville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Merchantville, accounting for 40.88% of the borough's housing units. Other types of housing that are prevalent in Merchantville include duplexes, homes converted to apartments or other small apartment buildings ( 22.88%), row houses and other attached homes ( 19.73%), and a few large apartment complexes or high rise apartments ( 16.51%).
People in Merchantville primarily live in small (one, two or no bedroom) single-family detached homes. Merchantville has a mixture of owner-occupied and renter-occupied housing.
The housing in Merchantville was primarily built before 1939 ( 52.07%), making the housing stock in Merchantville some of the oldest overall in America, although there is a range of ages of homes in Merchantville. The next most important housing age is between 1940-1969 ( 34.51%), followed by between 1970-1999 ( 8.84%). There's also some housing in Merchantville built between 2000 and later ( 4.58%).
Appreciation rates for homes in Merchantville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.55%, which ranks in the top 30% nationwide. This equates to an annual average Merchantville house appreciation rate of 7.63%.
Appreciation rates are so strong in Merchantville that despite a nationwide downturn in the housing market, Merchantville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Merchantville appreciation rates continue to be some of the highest in America, at 10.80%, which is higher than appreciation rates in 90.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Merchantville. Merchantville appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to New Jersey, our data show that Merchantville's latest annual appreciation rate is higher than 50% 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 borough. Individual neighborhoods within Merchantville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Merchantville - 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 Merchantville real estate investment or home purchase decisions.
$449,735
$1,925 / per month