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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.



Sussex, 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

Sussex, NJ Housing Market Trends

With 2,048 people, 875 houses or apartments, and a median cost of homes of $357,012, Sussex real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Sussex homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Sussex, accounting for 48.52% of the borough's housing units. Other types of housing that are prevalent in Sussex include duplexes, homes converted to apartments or other small apartment buildings ( 24.26%), large apartment complexes or high rise apartments ( 22.56%), and a few row houses and other attached homes ( 4.66%).

People in Sussex primarily live in small (one, two or no bedroom) single-family detached homes. Sussex has a mixture of owner-occupied and renter-occupied housing.

The housing in Sussex was primarily built before 1939 ( 42.90%), making the housing stock in Sussex some of the oldest overall in America, although there is a range of ages of homes in Sussex. The next most important housing age is between 1940-1969 ( 28.50%), followed by between 1970-1999 ( 25.32%). There's also some housing in Sussex built between 2000 and later ( 3.28%).

Sussex Home Appreciation Rates

Real estate appreciation rates in Sussex's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.14% during the period.

Appreciation rates are so strong in Sussex that despite a nationwide downturn in the housing market, Sussex real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sussex appreciation rates continue to be some of the highest in America, at 11.29%, which is higher than appreciation rates in 91.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sussex. Sussex 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 Sussex's latest annual appreciation rate is higher than 60% 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 Sussex differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sussex - 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 Sussex real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$357,012

Sussex, NJ Home Prices
> $1,464,000
$1,098,001 - $1,464,000
$732,001 - $1,098,000
$586,001 - $732,000
$439,001 - $586,000
$292,001 - $439,000
$147,001 - $292,000
$73,001 - $147,000
$0 - $73,000
2.6%
2.6%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
20.4%
20.4%
42.5%
42.5%
26.2%
26.2%
4.8%
4.8%
3.5%
3.5%
0% 100.0%
% of Homes
Very Low

for New jersey

High

for nation

Number of Homes And Apartments:

875

Sussex Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,689 / per month

Homeownership Rate

Owners
Renters
44.3%
44.3%
55.7%
55.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.3%
7.3%
92.7%
92.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.3%
3.3%
25.3%
25.3%
28.5%
28.5%
42.9%
42.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
48.5%
48.5%
4.7%
4.7%
24.3%
24.3%
22.6%
22.6%
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
2.3%
2.3%
28.6%
28.6%
31.3%
31.3%
24.5%
24.5%
10.7%
10.7%
2.6%
2.6%
0% 100.0%
% of Homes