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 11,041 people, 4,277 houses or apartments, and a median cost of homes of $511,239, Wanaque real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Wanaque, accounting for 59.71% of the borough's housing units. Other types of housing that are prevalent in Wanaque include large apartment complexes or high rise apartments ( 16.49%), duplexes, homes converted to apartments or other small apartment buildings ( 14.97%), and a few row houses and other attached homes ( 8.83%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wanaque. Owner-occupied housing accounts for 74.06% of Wanaque's homes, and 50.23% 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. Wanaque's housing was primarily built during this period, from the '40s through the '60s. A full 35.55% of the borough's housing hails from this era. Other housing ages represented in Wanaque include homes built between 1970-1999 ( 23.78%) and housing constructed between 2000 and later ( 21.73%). There's also some housing in Wanaque built before 1939 ( 18.95%).
Appreciation rates for homes in Wanaque have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.42%, which ranks in the top 50% nationwide. This equates to an annual average Wanaque house appreciation rate of 6.76%.
Appreciation rates are so strong in Wanaque that despite a nationwide downturn in the housing market, Wanaque real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wanaque appreciation rates continue to be some of the highest in America, at 13.41%, which is higher than appreciation rates in 96.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wanaque. Wanaque 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 Wanaque's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.
$511,239
for New jersey
for nation
4,277
$3,631 / per month