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 11,986 people, 4,369 houses or apartments, and a median cost of homes of $898,750, River Edge house prices are not only among the most expensive in New Jersey, River Edge real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in River Edge, accounting for 73.52% of the borough's housing units. Other types of housing that are prevalent in River Edge include duplexes, homes converted to apartments or other small apartment buildings ( 15.29%), large apartment complexes or high rise apartments ( 7.99%), and a few row houses and other attached homes ( 2.95%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in River Edge. Owner-occupied housing accounts for 78.04% of River Edge's homes, and 66.94% have either three or four bedrooms, which is average sized relative to America.
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. River Edge's housing was primarily built during this period, from the '40s through the '60s. A full 58.01% of the borough's housing hails from this era. Other housing ages represented in River Edge include homes built before 1939 ( 18.44%) and housing constructed between 1970-1999 ( 14.88%). There's also some housing in River Edge built between 2000 and later ( 8.66%).
River Edge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in River Edge during the period has been just 5.68%, which is lower than 70% of US communities.
Appreciation rates are so strong in River Edge that despite a nationwide downturn in the housing market, River Edge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, River Edge appreciation rates continue to be some of the highest in America, at 10.28%, which is higher than appreciation rates in 88.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in River Edge. River Edge 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 River Edge's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.
$898,750
$4,073 / per month