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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Phillipsburg, NJ Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Phillipsburg, NJ Housing Market Trends

With 15,320 people, 6,602 houses or apartments, and a median cost of homes of $215,672, house prices in Phillipsburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Phillipsburg, accounting for 54.16% of the town's housing units. Other types of housing that are prevalent in Phillipsburg include row houses and other attached homes ( 20.67%), duplexes, homes converted to apartments or other small apartment buildings ( 12.71%), and a few large apartment complexes or high rise apartments ( 12.46%).

The most prevalent building size and type in Phillipsburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 58.29% owning and 41.71% renting.

The housing in Phillipsburg was primarily built before 1939 ( 48.77%), making the housing stock in Phillipsburg some of the oldest overall in America, although there is a range of ages of homes in Phillipsburg. The next most important housing age is between 1940-1969 ( 34.79%), followed by between 1970-1999 ( 13.61%). There's also some housing in Phillipsburg built between 2000 and later ( 2.84%).

Phillipsburg Home Appreciation Rates

Real estate appreciation rates in Phillipsburg's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.86% during the period.

Appreciation rates are so strong in Phillipsburg that despite a nationwide downturn in the housing market, Phillipsburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Phillipsburg appreciation rates continue to be some of the highest in America, at 9.12%, which is higher than appreciation rates in 81.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Phillipsburg. Phillipsburg appreciation rates in the latest quarter were at 4.93%, which equates to an annual appreciation rate of 21.23%.

Importantly, this makes Phillipsburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to New Jersey, our data show that Phillipsburg's latest annual appreciation rate is lower than 70% 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 Phillipsburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Phillipsburg - 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 Phillipsburg real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$215,672

Phillipsburg, NJ Home Prices
> $1,405,000
$1,054,001 - $1,405,000
$703,001 - $1,054,000
$562,001 - $703,000
$421,001 - $562,000
$281,001 - $421,000
$141,001 - $281,000
$70,001 - $141,000
$0 - $70,000
0.0%
0.0%
0.0%
0.0%
2.2%
2.2%
1.4%
1.4%
5.0%
5.0%
22.4%
22.4%
48.1%
48.1%
15.2%
15.2%
5.7%
5.7%
0% 100.0%
% of Homes
Very Low

for New jersey

Low

for nation

Number of Homes And Apartments:

6,602

Phillipsburg Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,937 / per month

Homeownership Rate

Owners
Renters
58.3%
58.3%
41.7%
41.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.9%
8.9%
91.1%
91.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.8%
2.8%
13.6%
13.6%
34.8%
34.8%
48.8%
48.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
54.2%
54.2%
20.7%
20.7%
12.7%
12.7%
12.5%
12.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.1%
1.1%
12.1%
12.1%
22.7%
22.7%
48.6%
48.6%
12.7%
12.7%
2.9%
2.9%
0% 100.0%
% of Homes