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 47,957, 17,344 total housing units (homes and apartments), and a median house value of $672,734, real estate costs in West Orange 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 West Orange, accounting for 56.48% of the township's housing units. Other types of housing that are prevalent in West Orange include large apartment complexes or high rise apartments ( 17.30%), duplexes, homes converted to apartments or other small apartment buildings ( 16.15%), and a few row houses and other attached homes ( 9.86%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Orange. Owner-occupied housing accounts for 70.65% of West Orange's homes, and 57.24% 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. West Orange's housing was primarily built during this period, from the '40s through the '60s. A full 48.60% of the township's housing hails from this era. Other housing ages represented in West Orange include homes built before 1939 ( 25.06%) and housing constructed between 1970-1999 ( 20.57%). There's also some housing in West Orange built between 2000 and later ( 5.77%).
Appreciation rates for homes in West Orange have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.68%, which ranks in the top 50% nationwide. This equates to an annual average West Orange house appreciation rate of 6.78%.
Appreciation rates are so strong in West Orange that despite a nationwide downturn in the housing market, West Orange real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Orange appreciation rates continue to be some of the highest in America, at 12.00%, which is higher than appreciation rates in 93.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Orange. West Orange 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 West Orange'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 township. Individual neighborhoods within West Orange differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Orange - 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 West Orange real estate investment or home purchase decisions.
$672,734
for New jersey
for nation
17,344
$3,431 / per month