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 2,806 people, 1,208 houses or apartments, and a median cost of homes of $343,420, Thorofare real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Thorofare homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Thorofare, accounting for 58.92% of the town's housing units. Other types of housing that are prevalent in Thorofare include large apartment complexes or high rise apartments ( 24.98%), row houses and other attached homes ( 12.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.46%).
Dwellings in Thorofare tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 54.75% of the homes in Thorofare have two or fewer bedrooms.
Thorofare homes and real estate are some of the newest in America. 45.48% of Thorofare's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Thorofare real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 24.27%), and between 1940-1969 ( 16.89%). There's also some housing in Thorofare built before 1939 ( 13.35%).
Real estate appreciation rates in Thorofare's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.92% during the period.
Appreciation rates are so strong in Thorofare that despite a nationwide downturn in the housing market, Thorofare real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Thorofare appreciation rates continue to be some of the highest in America, at 10.48%, which is higher than appreciation rates in 89.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Thorofare. Thorofare appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to New Jersey, our data show that Thorofare's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.
$343,420
for New jersey
for nation
1,208
$2,972 / per month