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 13,110, 5,070 total housing units (homes and apartments), and a median house value of $627,014, real estate costs in Ridgefield Park 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.
Single-family detached homes are the single most common housing type in Ridgefield Park, accounting for 40.05% of the village's housing units. Other types of housing that are prevalent in Ridgefield Park include duplexes, homes converted to apartments or other small apartment buildings ( 30.94%), large apartment complexes or high rise apartments ( 26.79%), and a few row houses and other attached homes ( 2.22%).
People in Ridgefield Park primarily live in small (one, two or no bedroom) single-family detached homes. Ridgefield Park has a mixture of owner-occupied and renter-occupied housing.
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. Ridgefield Park's housing was primarily built during this period, from the '40s through the '60s. A full 41.32% of the village's housing hails from this era. Other housing ages represented in Ridgefield Park include homes built before 1939 ( 41.08%) and housing constructed between 1970-1999 ( 15.37%). There's also some housing in Ridgefield Park built between 2000 and later ( 2.24%).
Appreciation rates for homes in Ridgefield Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.48%, which ranks in the top 50% nationwide. This equates to an annual average Ridgefield Park house appreciation rate of 6.71%.
Appreciation rates are so strong in Ridgefield Park that despite a nationwide downturn in the housing market, Ridgefield Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ridgefield Park appreciation rates continue to be some of the highest in America, at 11.85%, which is higher than appreciation rates in 93.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ridgefield Park. Ridgefield Park 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 Ridgefield Park's latest annual appreciation rate is higher than 60% of the other cities and towns in New Jersey.
$627,014
for New jersey
for nation
5,070
$3,161 / per month