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 4,865, 2,414 total housing units (homes and apartments), and a median house value of $740,252, real estate costs in Spring Lake Heights 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 Spring Lake Heights, accounting for 51.33% of the borough's housing units. Other types of housing that are prevalent in Spring Lake Heights include large apartment complexes or high rise apartments ( 21.04%), row houses and other attached homes ( 18.45%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.17%).
People in Spring Lake Heights primarily live in small (one, two or no bedroom) single-family detached homes. Spring Lake Heights has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Spring Lake Heights built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Spring Lake Heights built between 1940-1969 ( 40.66%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.46%). There's also some housing in Spring Lake Heights built before 1939 ( 6.24%).
Spring Lake Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Spring Lake Heights during the period has been just 5.61%, which is lower than 70% of US communities.
Appreciation rates are so strong in Spring Lake Heights that despite a nationwide downturn in the housing market, Spring Lake Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spring Lake Heights appreciation rates continue to be some of the highest in America, at 12.65%, which is higher than appreciation rates in 94.93% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spring Lake Heights. Spring Lake Heights 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 Spring Lake Heights's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.
$740,252
for New jersey
for nation
2,414
$3,405 / per month