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 5,157, 2,461 total housing units (homes and apartments), and a median house value of $623,540, real estate costs in Wildwood 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.
Row houses and other attached homes are the single most common housing type in Wildwood, accounting for 31.62% of the city's housing units. Other types of housing that are prevalent in Wildwood include duplexes, homes converted to apartments or other small apartment buildings ( 27.16%), single-family detached homes ( 22.29%), and a few large apartment complexes or high rise apartments ( 18.94%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
The most prevalent building size and type in Wildwood are three and four bedroom dwellings, chiefly found in row houses and other attached homes. The city has a mixture of owners and renters, with 46.47% owning and 53.53% renting.
The housing in Wildwood was primarily built before 1939 ( 33.01%), making the housing stock in Wildwood some of the oldest overall in America, although there is a range of ages of homes in Wildwood. The next most important housing age is between 2000 and later ( 28.67%), followed by between 1970-1999 ( 21.54%). There's also some housing in Wildwood built between 1940-1969 ( 16.78%).
A decent proportion of the Wildwood housing stock is seasonally occupied. That is, homes and condos in Wildwood are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Wildwood housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Wildwood has experienced some of the highest home appreciation rates of any community in the nation. Wildwood real estate appreciated 163.00% over the last ten years, which is an average annual home appreciation rate of 10.15%, putting Wildwood in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wildwood definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Wildwood that despite a nationwide downturn in the housing market, Wildwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wildwood appreciation rates continue to be some of the highest in America, at 21.75%, which is higher than appreciation rates in 99.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wildwood. Wildwood appreciation rates in the latest quarter were at 1.06%, which equates to an annual appreciation rate of 4.31%.
Relative to New Jersey, our data show that Wildwood's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.
$623,540
for New jersey
for nation
2,461
$2,444 / per month