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 13,191 people, 5,294 houses or apartments, and a median cost of homes of $724,875, real estate costs in Woodland Park 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 Woodland Park, accounting for 31.29% of the borough's housing units. Other types of housing that are prevalent in Woodland Park include duplexes, homes converted to apartments or other small apartment buildings ( 29.62%), large apartment complexes or high rise apartments ( 26.71%), and a few row houses and other attached homes ( 12.38%).
People in Woodland Park primarily live in small (one, two or no bedroom) single-family detached homes. Woodland Park has a mixture of owner-occupied and renter-occupied housing.
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. Woodland Park's housing was primarily built during this period, from the '40s through the '60s. A full 43.78% of the borough's housing hails from this era. Other housing ages represented in Woodland Park include homes built between 1970-1999 ( 26.15%) and housing constructed between 2000 and later ( 20.84%). There's also some housing in Woodland Park built before 1939 ( 9.23%).
Real estate appreciation rates in Woodland Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.11% during the period.
Appreciation rates are so strong in Woodland Park that despite a nationwide downturn in the housing market, Woodland Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Woodland Park appreciation rates continue to be some of the highest in America, at 12.25%, which is higher than appreciation rates in 94.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Woodland Park. Woodland Park 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 Woodland Park's latest annual appreciation rate is higher than 70% 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 Woodland Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Woodland Park - 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 Woodland Park real estate investment or home purchase decisions.
$724,875
for New jersey
for nation
5,294
$3,283 / per month